Admission to Trading on the London Stock Exchan...

One Heritage Group plc (OHG) One Heritage Group plc: Admission to Trading on the London Stock Exchange and First Day of Dealings 23-Dec-2020 / 07:00 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. 23 December 2020 ONE HERITAGE GROUP PLC Admission to Trading on the London Stock Exchange and First Day of Dealings One Heritage Group PLC ("One Heritage"), the UK based residential developer, is pleased to announce that One Heritage's entire issued ordinary share capital has today been admitted to the standard listing segment of the Official List of the London Stock Exchange's Main Market for listed securities under the ticker "OHG". One Heritage, has successfully raised £930,000 (before expenses) via a combination of a subscription and a placing with Hybridan of a total 9.3 million new Ordinary Shares with investors at a price of 10 pence per Ordinary Share (the "Placing Price"). One Heritage's market capitalisation at the Placing Price on admission will be £3.0 million. Group activities The Group undertakes development and re-development of new and existing buildings ("Development Activities") to create self-contained residential apartments, and the refurbishment of existing residential properties ("Refurbishment Activities") to create Co-living accommodation. The Group will act as its own principal or as a development manager on behalf of third-party investors for both Development Activities and Refurbishment Activities. The Group also undertakes letting and property and facilities management ("L&PFM") services for these products. All Group activities are undertaken solely in the UK. Developed or refurbished properties owned by the Group will then be sold or retained. Co-living properties will be sold on the open market primarily to investors through the Group's marketing network in Hong Kong. Schemes of self-contained apartments will be sold to investors through the Group's marketing network in Hong Kong or through a forward sale agreement to institutional investors. Business strategy and execution The Group will undertake its activities by deploying a design approach and L&PFM service levels that are attractive to younger socially mobile professionals and those seeking more flexible living arrangements. The Directors consider that the product range of self-contained apartments and Co-living accommodation, allied with high quality L&PFM services, will provide a broad appeal to this demographic group. The initial geographical focus of the Group's activities will be primarily high demand areas in the North West of England. This demand will be underpinned by strong economic and employment growth in Manchester, which is forecast to be one of the UK's strongest performing cities over the next few years according to Ernst & Young LLP's Regional Economic Forecast.  Data from the Office of National Statistics, predicts that the growth in the number of households in Greater Manchester between 2020 and 2038 will be 10.4 per cent. compared to 7.4 per cent. over the previous 10 years.  This increased demand is twinned with structural undersupply of housing which, over the last 10 years, has shown that the number of net new dwellings is 15 per cent. less than the growth in households with the Greater Manchester Economic Forecasting Model showing an increase in employment of 10.7 per cent. over the same period. The Group will focus on edge of city centre locations where there are good transport links or where there is a major local employer to underpin demand allowing a high-quality housing product to be delivered at a competitive price point. Over the next three years, the Company intends to expand its activities to other locations throughout the UK that demonstrate similar characteristics to those currently identified in the North West of England, such as in Yorkshire and the East and West Midlands. The Group will be involved in the full life-cycle of a property development, which includes: the acquisition of land or existing property; obtaining any required revisions to existing planning permission; undertaking development or refurbishment to deliver a high-quality living space; disposal of developed or refurbished property to investors; and provision of L&PFM services to those investors and to other owners of self-contained apartments or Co-living accommodation. The Group employs experienced development and letting professionals, and where appropriate supplements this experience with external providers.  The structure of the business is intended to establish an alignment of interest with the Company's stakeholders that will ultimately drive a growing, stable income for shareholders. Where the Group undertakes development or refurbishment on its own account, income will be derived from: profit made on the disposal of completed properties; and management fees from the provision of L&PFM services to investors who acquire the properties. Where development and refurbishment works are carried out on behalf of third-party investors, additional income will be derived from: initial fees for sourcing and structuring land and property acquisitions; development and refurbishment management fees during the period of building works; and a profit share on disposal of the completed properties. The expectation is that the Group will leverage its marketing network in Hong Kong to pre-sell a significant number of units. This will de-risk the exit and improve the ability of the Group to secure debt finance where this is considered beneficial in improving risk-adjusted returns.  The Directors believe that this strategy will enable the Group to establish a strong market position, and with its in-house capabilities, to generate new business opportunities.  The Directors are focused on establishing the Group as a recognised provider of innovative and high-quality residential developments in the UK and to increase shareholder value (measured in terms of profitability, dividend income or increased share price), in the medium to long term. Board of Directors and Key Management Team The Company's board of directors is comprised of David Stewart Izett, Jeffrey Ian Pym, Jason David Upton, and Yiu Tak (Peter) Cheung. David Stewart Izett is the Non-Executive Chairman and is a fellow of The Royal Institution of Chartered Surveyors with more than 40 years' experience of the real estate industry both in the UK and internationally. Jeffrey Ian Pym is a Non-Executive Director who will chair the Audit and Risk Committee being a qualified Chartered Accountant and highly experienced Chief Financial Officer with over 25 years' experience of the real estate industry. Both have experience of working in companies that have been listed on the London Stock Exchange.  Jason David Upton is the Chief Executive Officer and Peter Cheung is the Chief Investment Officer, both of whom are the founders of the Group's business in the UK, with Peter Cheung being a founder of One Heritage in Hong Kong and a significant shareholder in the Company. The Executive Management Team also includes Peter Child who leads the Group's lettings business, and has over 30 years of experience in the real estate industry; Martin Crews, who is Development Director, with over 10 years of experience in property development; and Markus Luke Piggin, who is a qualified Chartered Accountant, a CFA Charterholder and is the Group's Finance Director. Markus Luke Piggin has previous listed company experience in a senior finance role. Jason Upton, Chief Executive Officer, commented "We are excited to bring One Heritage to the market. We were oversubscribed from a wide range of investors, which represents a real vote of confidence in the potential for the business. We are excited to be one of the first publicly listed residential developers that also focuses on Co-Living, a growing sector with real promise. We see the North West as being a continued centre of growth in the UK in the coming years as the Government invests in levelling up the regions and continues to invest in infrastructure. We believe that we can create a lot of value in the residential market and are excited to part of the solution to tackling the UK's shortage of quality accommodation." Contacts One Heritage Group plc Jason Upton Chief Executive Officer Email: [e-mail] Luke Piggin Finance Director Email: [e-mail] Hybridan LLP (Adviser and Broker) Claire Louise Noyce Email: [e-mail] Tel: [phone]

ISIN:	GB00BLF79495
Category Code:	MSCH
TIDM:	OHG
Sequence No.:	90187
EQS News ID:	1157000

End of Announcement	EQS News Service