Signing of a Relationship Agreement with majori...
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One Heritage Group plc (OHG)
29 June 2022 ONE HERITAGE GROUP PLC (the “Company” or “One Heritage”) Signing of a Relationship Agreement with majority shareholder 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 One Heritage Property Development Limited (“OHPD”) that sets out the formal relationship between OHPD and the Company (the “Relationship Agreement”). The Board keeps corporate governance under continuous review and the signing of the Relationship Agreement was undertaken as a result of the Board’s ongoing commitment to continually improve the corporate governance in the Company. OHPD is the Company’s majority shareholder, holding 63.8% of the issued share capital in the Company. It also shares a common director in Yiu Tak (Peter) Cheung and provides One Heritage with a £7.5 million loan facility. The Relationship Agreement ensures that One Heritage continues to operate independently of OHPD and that any transactions between OHPD and One Heritage will be on normal commercial and arm’s length terms. OHPD has agreed that the Board of One Heritage will always be required to contain at least two Independent Directors, one of whom will be Chair. OHPD further agrees that its Nominated Director will not be permitted to exercise the voting rights of OHPD in respect of certain matters. These matters are set out in the Relationship Agreement. In relation to such matters the quorum of the Board will require at least two Independent Directors and exclude the Nominated Director. The Relationship Agreement, which contains the Schedule of Matters Reserved for the Board in this respect, is available via the Company’s website at https://www.oneheritageplc.com/ 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 of England, seeking out value and maximising opportunities for our 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/
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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.: | 171258 |
| EQS News ID: | 1385917 |
| End of Announcement | EQS News Service |
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