One Heritage Group plc (OHG)
One Heritage Group plc: Associate of the Group
02-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.
ONE HERITAGE GROUP PLC
(the “Company” or “One Heritage”)
Associate of the Group
One Heritage Group PLC (LSE: OHG), the UK-based residential developer focused on the North West of England, has been made aware of financial issues relating to a subsidiary of an associate of One Heritage, One Heritage Maintenance Limited (“OHM”). The Board is in the process of investigating such issues and will provide an update when the position becomes clearer.
One Heritage owns a 47% stake in One Heritage Complete Limited (“OHC”), which in turn owns 73% of OHM. One Heritage’s effective stake is 34%. The reported value of OHC in One Heritage’s accounts was £285,459 at 31 December 2020 (30 June 2020: £258,512) and One Heritage received total dividends from OHC in the six months to 31 December 2020 of £26,383. Other than the equity stake, One Heritage has no exposure or commitments to OHC or its subsidiaries.
The Company will provide more information if and when appropriate. It is currently going through its annual audit process and is scheduled to release its annual results in the middle of October. The Company will undertake a presentation via Investor Meet Company where investors will be welcome to ask questions.