Last checked at 26 Apr 2024 14:00
One Heritage Group plc (OHG) Speculation relating to a company connected with the Company’s Majority Shareholder 26-Apr-2024 / 14:00 GMT/BST 26 April 2024 ONE HERITAGE GROUP PLC (the “Company” or “OHG”)
Speculation relating to a company connected with the Company’s Majority Shareholder
One Heritage Group PLC (“the Company” or “OHG”), the UK-based residential developer, development manager, and property manager focused on the North of England, notes the speculation with respect to a company connected with OHG’s majority shareholder, One Heritage Property Development Limited, namely One Heritage Trust Limited.
On the evening of 25th April, the directors of the Company became aware of allegations regarding two directors and ultimate beneficial owners of its Hong Kong based majority shareholder, One Heritage Property Development Limited, and business related to One Heritage Trust Limited. It is important to clarify that any allegations and suspicion is specific to China and affects China-based investors. One Heritage Property Development Limited, the Group’s majority shareholder which owns 65.3%, based in Hong Kong, so far as the directors are aware, is not implicated in the allegations. It should be noted that One Heritage Trust Limited is not part of the Company’s group.
It is important to note that OHG has a shareholder facility of up to £14 million, which, at OHG’s discretion, is not due for repayment to One Heritage Property Development Limited until December 2028.
OHG operates independently of One Heritage Property Development Limited and its other businesses and is conducting business as usual. We want to reassure our stakeholders and investors that our operations remain unaffected by any of these allegations or speculation.
Contacts
One Heritage Group plc Jason Upton Chief Executive Officer Email: jason.upton@one-heritage.com
Hybridan LLP (Financial Adviser and Broker) Claire Louise Noyce Email: claire.noyce@hybridan.com Tel: +44 (0)203 764 2341
About One Heritage Group One Heritage Group PLC is a property development and management company. It focuses on the residential sector primarily in the North of England, seeking out value and maximising opportunities for investors. In 2020 One Heritage Group PLC became one of the first publicly listed residential developers with a focus on co-living. The Company is listed on the Standard List of the Main Market of the London Stock Exchange, trading under the ticker OHG. For further information, please visit the Company’s website at https://www.oneheritageplc.com/.
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| ISIN: | GB00BLF79495 |
| Category Code: | MSCM |
| TIDM: | OHG |
| LEI Code: | 2138008ZZUCCE4UZHY23 |
| OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
| Sequence No.: | 318315 |
| EQS News ID: | 1890865 |
| End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by EQS Group AG. The issuer is solely responsible for the content of this announcement.