UKML.L Regulatory News (UKML)

UK Mortgages Ltd - Securitisation Mandate Announced for TML Portfolio

PR Newswire

London, March 28

UK Mortgages Ltd: Securitisation Mandate for TML Portfolio

THE INFORMATION IN THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION DIRECTLY OR INDIRECTLY IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN.

28 March 2019

UK MORTGAGES LIMITED(a closed-ended investment company incorporated in Guernsey with registration number 60440)

LEI 549300388LT7VTHCIT59

Investment update

UK Mortgages Limited – Securitisation Mandate for TML Portfolio

28 March 2019

The Board of UK Mortgages Limited (“UKML”, or the “Company”) and TwentyFour Asset Management LLP (“TwentyFour”) are pleased to announce that Barley Hill No.1 PLC, the impending securitisation of the portfolio of first ranking, owner-occupied mortgage loans originated by The Mortgage Lender Limited (“TML”), has been mandated to NatWest Markets as Arranger; Citi and NatWest Markets as Joint Lead Managers and Standard Chartered Bank as Co-Manager.

TML have been originating loans for the Company since 2016 with warehouse financing provided by NatWest Markets. The portfolio has now grown to a size considered appropriate to initiate a securitisation.

Meetings are being offered to potential securitisation investors from Friday 29th of March 2019 and a transaction is expected to follow, subject to market conditions.

An update will be provided once the transaction has progressed.

Further information:TwentyFour Asset Management LLPRob Ford020 7015 8900Numis Securities Limited, Corporate BrokerNathan Brown

Hugh Jonathan020 7260 1000

Important notice

This announcement has been prepared for information purposes only, it is not a prospectus.

The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required by the UKML, TwentyFour and Numis to inform themselves about, and to observe, such restrictions.

Certain statements in this announcement are forward-looking statements which are based on UKML’s expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. TwentyFour's estimate of the potential gross IRR for this investment is calculated based on certain scenarios and subject to certain assumptions. This and any other references herein to potential future returns or distributions are targets and not forecasts and there can be no guarantee or assurance that they will be achieved. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, UKML undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

The information contained in this announcement is subject to change without notice and neither the UKML, TwentyFour nor Numis assume any responsibility or obligation to update publicly or review any of the forward-looking statements contained herein.

Recipients of this announcement who are considering acquiring New Shares in UKML are reminded that any such acquisition must be made only on the basis of the information contained in the Prospectus and any supplementary prospectus(es) thereto which may be different from the information contained in this announcement. This announcement does not constitute or form part of and may not be construed as an offer to sell, or an invitation to purchase, investments of any description, nor as a recommendation regarding the possible offering or the provision of investment advice by any party. No information in this announcement should be construed as providing financial, investment or other professional advice and each prospective investor should consult its own legal, business, tax and other advisers in evaluating any investment opportunity. In particular, an investment in UKML involves a high degree of risk and prospective investors should read the section in the Prospectus entitled "Risk Factors" for further information.