Repayment of One Heritage SPC Loan and Extensio...

One Heritage Group plc (OHG) One Heritage Group plc: Repayment of One Heritage SPC Loan and Extension of Facility 14-Apr-2023 / 07:00 GMT/BST 14 April 2023 ONE HERITAGE GROUP PLC (the “Company” or “One Heritage”) Repayment of One Heritage SPC Loan and Extension of Facility 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 its majority shareholder to reschedule its loans on more favourable terms. A loan (the SPC loan) of £1,007,000, with an 18-month repayment term at 12% interest, was entered into with One Heritage SPC on 11 August 2020, later extended by 12 months. The Company has now repaid this loan in full. At the same time, the Company has increased its £11 million debt facility (the “Facility”) by £1.3m to £12.3m, provided by its parent company and majority shareholder One Heritage Property Development Ltd (OHPD). The Facility carries an interest rate of 7%. OHPD has also agreed that it will not demand repayment of the Facility until the Company can repay without impacting its going concern basis. Jason Upton, CEO, commented: “We are very grateful to our majority shareholder for its ongoing support by enabling us to pay off the SPC loan and extend the Facility. In so doing, we have improved the interest rate on £1.3 million of debt at 12%  to a better rate of 7% for the Company. As previously highlighted, revenue from our development pipeline is building and the second half of our financial year is looking strong, with a series of practical completions on track and a large proportion of related units either sold or with sales agreed. We look forward to providing further updates in due course.” Contacts: One Heritage Group plc Jason Upton Chief Executive Officer Email: [e-mail] Anthony Unsworth Chief Financial Officer Email: [e-mail] Hybridan LLP (Financial Adviser and Broker) Claire Louise Noyce Email: [e-mail] Tel: [phone] Yellow Jersey PR (Financial PR) Charles Goodwin/Annabelle Wills/Bessie Elliot Email: [e-mail] Tel: [phone] 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/. Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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.:	236762
EQS News ID:	1607251

End of Announcement	EQS News Service