One Heritage Group plc: Associate of the Group update (1233747)
16 Settembre 2021 - 8:00AM
UK Regulatory
One Heritage Group plc (OHG) One Heritage Group plc: Associate
of the Group update 16-Sep-2021 / 07:00 GMT/BST Dissemination of a
Regulatory Announcement that contains inside information according
to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The
issuer is solely responsible for the content of this
announcement.
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16 September 2021
ONE HERITAGE GROUP PLC
(the "Company" or "One Heritage")
Associate of the Group update
One Heritage Group PLC (LSE: OHG), the UK-based residential
developer focused on the North West of England, released an
announcement on 2nd September 2021 in regards to financial issues
relating to a subsidiary of an associate, One Heritage Complete
Limited ("OHC").
The Directors of One Heritage Maintenance Limited ("OHM") and
now also the Directors of One Heritage Design Limited ("OHD"), both
subsidiaries of OHC, held board meetings on 14th September 2021 and
15th September 2021, respectively, at which the Directors confirmed
their belief that each company was insolvent.
Having reached this conclusion, the Directors have agreed to
convene a general meeting of the members of both OHM and OHD at
which a special resolution would be put forward to place each
company into a creditors voluntarily liquidation. The general
meeting of each company is expected to be held on or before the
30th September 2021.
The Group owns a 47% stake in OHC, which in turn owns 73% of OHM
and 93% of OHD. One Heritage's effective stake is 34% and 44% in
OHM and OHD, respectively. The reported value of OHC in the Group's
accounts was GBP285,459 at 31st December 2020 (30th June 2020:
GBP258,512) and the Group received total dividends from OHC in the
six months to 31st December 2020 of GBP26,383. Other than the
equity stake, the Group has no exposure or commitments to OHC, to
the above mentioned two subsidiaries or to any of its others
subsidiaries.
Contacts
One Heritage Group plc
Jason Upton
Chief Executive Officer
Email: jason.upton@one-heritage.com
Luke Piggin
Finance Director
Email: luke.piggin@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-west of England, seeking out value and maximising
opportunities for its investors. It has a team of dedicated
residential property development experts. 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/
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ISIN: GB00BLF79495
Category Code: MSCH
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.: 122268
EQS News ID: 1233747
End of Announcement EQS News Service
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September 16, 2021 02:00 ET (06:00 GMT)
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