8 April 2024
ONE HERITAGE GROUP
PLC
(the
“Company”)
Directorate
Change
One Heritage Group PLC
("the Company" or "OHG"), the UK-based residential developer,
development manager, and property manager focused on the North of
England, announces that Yiu Tak (Peter) Cheung has tendered his
resignation as Chief Investment Officer (CIO), effective 30th April
2024.
Peter Cheung has
decided to step down from his part time role as Chief Investment
Officer (CIO) due to personal reasons. After some discussion, the
Board of Directors accepts and respects his decision and expresses
gratitude for his significant contributions throughout his tenure
with the Company.
To ensure a seamless
transition and effective management, the Company has recruited a
new Head of Investment, who will officially start in post on 15th
April 2024. In assuming all duties previously held by Peter Cheung,
among others, it should be noted that this position, at this time,
will not be a board role. The Head of Investment role is a
permanent position and is UK based and represents a critical
appointment for the Company as it focuses on new investments and
the growth of its development pipeline.
An Interim Head of
Finance was appointed in March 2024 to oversee financial operations
while the Company undertakes a search for a full time Head of
Finance.
It is also important to
state that Peter Cheung's resignation does not impact the strong
relationship the Company maintains with its majority shareholder.
OHG recently announced improved terms of its shareholder facility
agreement on 26th March 2024. These enhancements include the option
for an extension up to 31st December 2028, at the discretion of the
Company.
Jason Upton, CEO of One
Heritage Group PLC said: “The Board of Directors extends its best
wishes to Peter Cheung and I, personally, want to thank Peter for
the pivotal part he has played in our IPO and in the early days of
being a listed Company. We are confident of a successful future for
OHG under its enhanced senior management team and will update the
market when appropriate as we continue to seek and secure new
talent.”
Contacts
One
Heritage Group plc
Jason Upton
Chief Executive
Officer
Email:
jason.upton@one-heritage.com
Hybridan LLP
(Financial Adviser and Broker)
Claire Louise
Noyce
Email:
claire.noyce@hybridan.com
Tel: +44 (0)203 764
2341
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 https://www.oneheritageplc.com/.