29 October 2024
Zentra Group
PLC (previously One Heritage Group PLC)
(“the
Company”)
Lending
Facility and Release of FY Results
Zentra Group (the “Company”) is
pleased to announce that it has successfully secured a £1.6 million
debt facility, which is secured against the properties at Bank
Street, Sheffield, and Lincoln House, Bolton.
As announced on 2 October 2024,
the Company has unconditionally exchanged contracts on several
transactions, including the sale of the aforementioned properties,
with completion scheduled for 29 October 2024. The completion date
may be extended or brought forward by mutual agreement between the
parties, with a long stop date of 8 November 2024. Proceeds from
the debt facility will be attributed to these assets and will form
part of the sale schedule.
Further to the refinance of the
Company’s existing loan facility, as also announced on 2 October
2024, the Company is pleased to confirm improvements to the terms.
These enhancements allow the Company to draw down an additional £1
million for working capital purposes over the next 18 months, if
required, to support the Company’s short-term needs whilst property
sales are completed.
This increased flexibility,
together with the securing of the facilities noted above,
underscores the commitment of the Company's majority shareholder to
provide support, ensuring the Company can pursue its strategy
effectively.
The Company also expects to
announce its annual results before 31 October 2024.
Further updates will be provided
in due course.
Contacts
Zentra Group
plc
Jason Upton
Chief Executive
Officer
Email:
jason.upton@zentragroup.co.uk
Robert Holbrook
Head of Finance
Email:
robert.holbrook@zentragroup.co.uk
Hybridan LLP
(Financial Adviser and Broker)
Claire Louise Noyce
Email :
claire.noyce@hybridan.com
Tel: +44 (0)203 764
2341
About Zentra
Group PLC
Zentra Group PLC (previously 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.
The Company is listed on the
Standard List of the Main Market of the London Stock Exchange,
trading under the ticker ZNT.
For further information, please
visit the Company’s website at www.zentragroup.co.uk
The previous website
www.oneheritageplc.com will
automatically redirect to the new website.