26 April
2024
ONE HERITAGE GROUP
PLC
(the “Company” or
“OHG”)
Speculation
relating to a company connected with the Company’s Majority
Shareholder
One Heritage Group PLC
(“the Company” or “OHG”), the UK-based residential developer,
development manager, and property manager focused on the North of
England, notes the speculation with respect to a company connected
with OHG’s majority shareholder, One Heritage Property Development
Limited, namely One Heritage Trust Limited.
On the evening of
25th
April, the directors of
the Company became aware of allegations regarding two directors and
ultimate beneficial owners of its Hong Kong based majority
shareholder, One Heritage Property Development Limited, and
business related to One Heritage Trust Limited. It is important to
clarify that any allegations and suspicion is specific to China and
affects China-based investors. One Heritage Property Development
Limited, the Group’s majority shareholder which owns 65.3%, based
in Hong Kong, so far as the directors are aware, is not implicated
in the allegations. It should be noted that One Heritage Trust
Limited is not part of the Company’s group.
It is important to note
that OHG has a shareholder facility of up to £14 million, which, at
OHG’s discretion, is not due for repayment to One Heritage Property
Development Limited until December 2028.
OHG operates
independently of One Heritage Property Development Limited and its
other businesses and is conducting business as usual. We want to
reassure our stakeholders and investors that our operations remain
unaffected by any of these allegations or speculation.
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/.