One Heritage Group plc (OHG) One Heritage Group plc: Repayment of One Heritage SPC Loan and Extension of Facility 14-Apr-2023 / 07:00 GMT/BST


14 April 2023


(the "Company" or "One Heritage")

Repayment of One Heritage SPC Loan and Extension of Facility

One Heritage Group PLC (LSE: OHG), the UK-based residential developer focused on the North of England, is pleased to announce that it has signed an agreement with its majority shareholder to reschedule its loans on more favourable terms.

A loan (the SPC loan) of GBP1,007,000, with an 18-month repayment term at 12% interest, was entered into with One Heritage SPC on 11 August 2020, later extended by 12 months.

The Company has now repaid this loan in full. At the same time, the Company has increased its GBP11 million debt facility (the "Facility") by GBP1.3m to GBP12.3m, provided by its parent company and majority shareholder One Heritage Property Development Ltd (OHPD). The Facility carries an interest rate of 7%. OHPD has also agreed that it will not demand repayment of the Facility until the Company can repay without impacting its going concern basis.

Jason Upton, CEO, commented: "We are very grateful to our majority shareholder for its ongoing support by enabling us to pay off the SPC loan and extend the Facility. In so doing, we have improved the interest rate on GBP1.3 million of debt at 12% to a better rate of 7% for the Company. As previously highlighted, revenue from our development pipeline is building and the second half of our financial year is looking strong, with a series of practical completions on track and a large proportion of related units either sold or with sales agreed. We look forward to providing further updates in due course."


One Heritage Group plc

Jason Upton

Chief Executive Officer


Anthony Unsworth

Chief Financial Officer


Hybridan LLP (Financial Adviser and Broker)

Claire Louise Noyce


Tel: +44 (0)203 764 2341

Yellow Jersey PR (Financial PR)

Charles Goodwin/Annabelle Wills/Bessie Elliot


Tel: +44 (0)203 004 9512

About One Heritage Group

One Heritage Group PLC is a property development and management company. It focuses on the residential sector primarily in the North of England, seeking out value and maximising opportunities for investors. In 2020 One Heritage Group PLC became one of the first publicly listed residential developers with a focus on co-living.

The Company is listed on the Standard List of the Main Market of the London Stock Exchange, trading under the ticker OHG.

For further information, please visit the Company's website at

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ISIN:           GB00BLF79495 
Category Code:  UPD 
TIDM:           OHG 
LEI Code:       2138008ZZUCCE4UZHY23 
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State 
Sequence No.:   236762 
EQS News ID:    1607251 
End of Announcement  EQS News Service 

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(END) Dow Jones Newswires

April 14, 2023 02:00 ET (06:00 GMT)

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