Urban Exposure plc: Proposal by Wellesley Group Investors Limited

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