3 Jul 2018 07:07
Urban Exposure plc (UEX) Urban Exposure plc: Trading Update 03-Jul-2018 / 07:00 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. 3 July 2018 Urban Exposure plc
Trading Update
Urban Exposure plc (the "Company" or "Urban Exposure"), a specialist residential development finance firm and asset manager, today announces an update on trading.
Following the successful placing to raise gross proceeds of £150 million for balance sheet lending and admission to AIM on 9 May 2018, the Company is pleased to announce that since Admission, it has successfully closed its first 3 loans with a total value of £104m. The loans cover development projects in Nottingham, Cardiff and Greenwich and have values of £13.65m, £18.525m and £71.8m respectively.
The Company is working on a number of other potential loans which it expects to close shortly.
Commenting, Randeesh Sandhu, Chief Executive of Urban Exposure said: "We are pleased to have committed almost 70% of the funds raised at our IPO in May this year and have begun our life as a listed company with positive trading momentum.
In line with our strategy, we continue to review further opportunities to provide finance to residential developers around the UK, utilising our balance sheet lending funds, while continuing to grow our third-party asset management business."
Enquiries:
Notes to Editors
Urban Exposure plc is a specialist residential development finance and asset management company that has been formed to provide finance for UK real estate development loans. The Company focuses on two main revenue streams: interest and fees generated on principal lending from its own balance sheet; and asset management income generated from managing and servicing real estate development loans financed by third parties. |
| ISIN: | GB00BFNSQ303 |
| Category Code: | TST |
| TIDM: | UEX |
| LEI Code: | 213800Q7WLHGIHUFBT43 |
| Sequence No.: | 5713 |
| EQS News ID: | 700911 |
| 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.