MCAP.L Regulatory News (MCAP)

Early Closure Announcement

The information contained herein may only be released, published or distributed in the United Kingdom, the Isle of Man, Jersey and the Bailiwick of Guernsey in accordance with applicable regulatory requirements. The information contained herein is not for release, publication or distribution in or into the United States, Australia, Canada, Japan, South Africa, the Republic of Ireland or in any other jurisdiction where it is unlawful to distribute this document. The bonds referred to below may only be sold in Jersey in compliance with the provisions of the Control of Borrowing (Jersey) Order 1958 and the Financial Services (Jersey) Law 1998, as amended.

Hightown Praetorian & Churches Housing Association Retail Charity Bond 4.40% due 2025 (the "Bonds")

On 31st March 2015, Retail Charity Bonds PLC announced an offer of the Bonds. This announcement confirms that the Offer Period will close at 12 noon (London time) on 17th April 2015 (the End of Offer Date), such date and time being earlier than the originally scheduled end to the Offer Period which was at 12 noon (London time) on 27th April 2015.

Retail Charity Bonds PLC will release its announcement constituting the Issue Size Announcement as referred to in the Prospectus dated 31st March 2015 at a time and a date shortly after the End of Offer Date.

Defined terms used herein shall have the meanings attributed to them in the Prospectus dated 31st March 2015 in relation to the Bonds.

-Ends-

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About Hightown Praetorian & Churches Housing Association

Hightown Praetorian & Churches Housing Association Limited is a charity incorporated in 1967. It is the result of a number of mergers of Hertfordshire housing associations which had been formed in the late 1960s and early 1970s to help address the homeless and affordable housing problems of that era - problems that had been highlighted by the 'Cathy Come Home' television play.

Hightown has grown considerably since 2003, largely as a result of an active, new build development programme.

The Charity operates in Hertfordshire, Buckinghamshire and Bedfordshire with its head office located in Hemel Hempstead.

It manages over 4,400 homes and employs about 600 full and part time staff. As at 31 March 2014, the Charity had an annual turnover of £45 million and assets of £398 million.

The Charity has three main activities:

· it is a social landlord managing over 4,400 units of housing of which approximately 2,602 are affordable homes for rent, 667 are supported housing units, 598 are homes for shared ownership and 566 are leasehold homes,

· a provider of housing and support to people with support needs including people with learning disabilities and mental health problems, young people and homeless people (approximately 860 clients and 10,000 hours of support a week), and

· a developer of new affordable housing at a rate of approximately 300 new homes a year.

The Charity's revenue is mostly generated by the provision of social housing and specialist landlord services including:

· Rental revenues from General Needs, Supported Housing and Care & Nursing Homes, which account for approximately 72% of the revenue, and

· Shared Ownership Rental, Staircasing and Sales for approximately a further 26% of the revenue, and

· The remaining 2% includes Management Services and Charity Shop Revenues.

About Retail Charity Bonds

Retail Charity Bonds is a platform that issues retail eligible bonds for UK charities. It is an initiative of Allia, a UK charity and social investment specialist, and established in association with Canaccord Genuity.Retail Charity Bonds PLC is a public limited company; it was established as a special purpose issuing vehicle but is not itself a charity. It is governed by an independent and experienced board of directors from the financial and charity sectors who are acting on a pro-bono basis.

The platform is also supported by a range of patrons, including Cabinet Office, Allen & Overy, Bank of New York Mellon, Bell Pottinger, Berwin Leighton Paisner, Big Society Capital, Ecclesiastical Investment Management, Linklaters, London Stock Exchange, Prudential Trustee Company Limited, Rathbones and Threadneedle Investments.

For more information visit www.retailcharitybonds.co.uk

About the bonds

1. The bonds may not be suitable for all investors. Investors should ensure they fully understand the risks and seek independent financial advice.

2. Investors should note that the market price of the bonds can rise and fall during the life of the investment and the price of the bonds could fall below the issue price of £100.

3. In the event that Retail Charity Bonds PLC or Hightown Praetorian and Churches Housing Association Limited defaults, becomes insolvent or goes out of business, investors may lose some or all of their investment.

IMPORTANT INFORMATION

This announcement is an advertisement and is not a prospectus for the purposes of EU Directive 2003/71/EC, as amended, and/or Part VI of the Financial Services and Markets Act 2000 (the "FSMA"). A prospectus dated 31 March 2015 (the "Prospectus") has been prepared and made available to the public as required by Part VI of the FSMA. Investors should not subscribe for any bonds referred to in this announcement except on the basis of information in the Prospectus. Full information on Retail Charity Bonds PLC and the offer of the bonds is only available on the basis of the combination of the Prospectus and this announcement which have been published by Retail Charity Bonds PLC on the Regulatory News Service operated by the London Stock Exchange.

The restriction on financial promotions contained in section 21(1) of the Financial Services and Markets Act 2000 does not apply to this announcement by virtue of article 70(1A) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended.

The offering and the distribution of this announcement and other information in connection with the offer in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase any Bonds. Any purchase of Bonds pursuant to the offer should only be made on the basis of the information contained in the prospectus dated 31 March 2015 (the "Prospectus". The Prospectus is available at the website of Retail Charity Bonds PLC and Hightown Praetorian and Churches Housing Association Limited as above and the website of the London Stock Exchange plc (www.londonstockexchange.com/newissues).

The Bonds have not been and will not be registered under the United States Securities Act of 1933 (as amended) (the "Securities Act") and, subject to certain exceptions, may not be offered or sold within the United States or to United States persons. The Bonds are being offered and sold outside of the United States in reliance on Regulation S of the Securities Act.