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 Announcement | EQS 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.