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Urban Exposure plc: Proposal by Wellesley Group Investors Limited

24 Apr 2020 09:15

Urban Exposure plc (UEX) Urban Exposure plc: Proposal by Wellesley Group Investors Limited 24-Apr-2020 / 09:15 GMT/BST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.


24 April 2020

 

Urban Exposure Plc

 

Proposal by Wellesley Group Investors Limited

 

As announced on 17 April 2020, Urban Exposure plc (the "Company"), has received a number of enquiries in respect of the potential sale of its loan book.

Following discussions with numerous of its shareholders following that announcement, the Company wishes to clarify certain aspects of a proposal that has been made both to the Company and directly to a number of the Company's shareholders by Wellesley Group Investors Limited ("Wellesley") and its representatives.

The Wellesley proposal is to acquire the Company's assets, including its management operations, on terms which Wellesley equates to a value of 76.9 pence per ordinary share of the Company.

The Company has not received certain proof of funds on which the Wellesley proposal would be financed nor is there a definitive timeline on which the Wellesley proposal would be capable of execution.

Accordingly, the Company has no reason to believe that the Wellesley proposal is any more credible than any other speculative unsolicited approach that may be made to the Company.

The Company wishes further to clarify that it will give due consideration to, and treat on the same terms (including as regards access to information), all credible and bona fide proposals which may be forthcoming in respect of the sale of its assets.

As previously announced, the Company cannot provide any guarantee that any proposal regarding the acquisition of any of its assets would lead to a satisfactory deal, particularly given current market conditions.

Enquiries:

Urban Exposure plc        Tel: +44(0)207 408 0022

William McKee, Chairman

Randeesh Sandhu, Chief Executive Officer

Sam Dobbyn, Chief Financial Officer

 

Jefferies (Financial adviser and Joint Corporate Broker)  Tel: +44(0)20 7029 8000

Rishi Bhuchar

Ed Matthews

James Thomlinson

William Brown

 

Liberum (NOMAD and Joint Corporate Broker)   Tel: +44(0)203 100 2000

Neil Patel

Gillian Martin

Jonathan Wilkes-Green

Louis Davies

 

MHP Communications (Financial Public Relations)  

Charlie Barker

Sophia Samaras

Tel: +44(0)203 128 8540 / +44(0)203 128 8731

UrbanExposure@mhpc.com

 


ISIN:GB00BFNSQ303
Category Code:MSCU
TIDM:UEX
LEI Code:213800Q7WLHGIHUFBT43
Sequence No.:60217
EQS News ID:1029155
 
End of AnnouncementEQS News Service

UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

Date   Source Headline
23rd Jun 20217:00 amRNSCancellation - Urban Exposure plc
22nd Jun 20215:30 pmRNSUrban Exposure
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16th Jun 20214:18 pmRNSArrangements for General Meeting on 22 June 2021
10th Jun 20216:35 pmRNSTR-1: Notification of major holdings
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21st May 20217:00 amRNSCancellation on AIM and Notice of General Meeting
11th May 20217:00 amRNSVesting of staff share options
20th Apr 20217:00 amRNSTrading Update
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17th Feb 20213:38 pmRNSHolding(s) in Company
11th Jan 20213:23 pmRNSTR-1: Notification of major holdings
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23rd Dec 20204:16 pmRNSHolding(s) in Company
23rd Dec 20201:14 pmRNSCompletion of Tender Offer and total voting rights
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24th Nov 202012:45 pmRNSProposed Tender Offer
10th Nov 20209:55 amRNSTR-1: Notification of major holdings
9th Nov 20201:48 pmRNSTR-1: Notification of Major Holdings
23rd Oct 20202:54 pmRNSNotification of Major Holdings
22nd Oct 202010:25 amRNSTR-1: Notification of major holdings
21st Oct 20204:38 pmRNSCompany Update
19th Oct 20209:49 amRNSTR-1: Notification of major holdings
16th Oct 20203:10 pmRNSTR-1: Notification of major holdings
13th Oct 20204:27 pmRNSTR-1: Notification of major holdings
12th Oct 20208:29 amRNSTR-1: Notification of major holdings
8th Oct 20208:35 amRNSTR-1: Notification of major holdings

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