REG - MJ Gleeson Plc - Re DLUHC pledge

MJ GLEESONAnnouncement

06/04/2022 07:00

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RNS Number : 3939H  MJ Gleeson PLC  06 April 2022

MJ Gleeson plc

("the Company" or "the Group")

(GLE.L)

Re DLUHC pledge

 

Following extensive discussions between the housebuilding sector and the
Department for Levelling Up, Housing and Communities ("DLUHC"), in respect of
remediating those buildings with life-critical fire-safety issues, the Company
welcomes the resolution that has been reached.

DLUHC has requested that 53 companies in the sector, including MJ Gleeson,
sign a Pledge confirming that they will take responsibility for performing or
funding mitigation works to address life-critical fire-safety issues on
buildings over 11 metres in which the Company had some involvement in
developing and to secure withdrawal of those buildings from the Building
Safety Fund and ACM Funds.  The Board confirms that it has signed the Pledge
and returned it to DLUHC in good faith.

The Company was involved in the development of 15 buildings over 11 metres
(none of which were over 18 metres) before exiting from its legacy businesses
and dedicating itself to low-cost housebuilding and land promotion.

The Board is not aware of any material fire-safety issues in respect of the 15
buildings it was involved in.  However, it feels that in signing the Pledge
and by accepting its accompanying commitments, it is prudent to undertake a
further assessment of each of the 15 buildings to determine that this remains
the case.  The Board aims to conclude the assessment by 30 June 2022.
Should any remedial works at any of the buildings be required under the
expanded scope of the Pledge, the Company will notify the market as
appropriate.

James Thomson, Chief Executive of MJ Gleeson plc commented:

"Leaseholders should not have to pay for any costs associated with
life-critical fire-safety issues and I support the Government's efforts to
engage the wider industry in remediating buildings made unsafe by
life-critical fire-safety issues. The housebuilding sector has responded
positively to this initiative and is playing a proactive role and at
significant cost.  We will continue to work constructively with DLUHC and the
wider sector to ensure that this issue is resolved expeditiously."

This announcement is released by MJ Gleeson plc and contains inside
information for the purposes of Article 7 of the Market Abuse Regulation (EU)
596/2014 (MAR), and is disclosed in accordance with the Company's obligations
under Article 17 of MAR. Upon the publication of this announcement, this
information is considered to be in the public domain.

For the purposes of MAR and Article 2 of Commission Implementing Regulation
(EU) 2016/1055, this announcement is being made on behalf of the Company by
Stefan Allanson, Chief Financial Officer.

LEI: 21380064K7N2W7FD6434

Enquiries:

MJ Gleeson plc
 
Tel: +44 1142 612 900

James Thomson             Chief Executive Officer

Stefan Allanson              Chief Financial Officer

 

Hudson
Sandler
Tel: +44 20 7796 4133

Mark
Garraway                                                           Tel:
+44 7771 860 938

Charlotte
Cobb                                                           Tel:
+44 7795 422 131

 

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