REG-Zentra Group plc Zentra Group plc: Completion of Transactions and Listing Update

ZentraAnnouncement

22/11/2024 07:15

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   Zentra Group plc (ZNT)
   Zentra Group plc: Completion of Transactions and Listing Update

   22-Nov-2024 / 07:00 GMT/BST

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   22 November 2024

                                        

                                ZENTRA GROUP PLC

               (“Zentra”, “the Company” or “the Group” or “ZNT”)

             Completion of property transactions and listing update

   Zentra Group PLC (previously One Heritage Group PLC), a UK-based
   residential developer, development manager, and property manager, is
   pleased to announce that it has completed the transactions outlined in the
   Strategic Update and Market Listing Announcement released on 2 October
   2024. These transactions mark a significant step in the Company's ongoing
   transformation.

   Summary of Completed Transactions
   The following transactions, which were initially outlined in the Company’s
   2 October 2024 update, have now been completed:

    1. Strategic Investment in One Victoria Project:
       The Company has acquired a 30% stake in the One Victoria project in
       Manchester for £3 million. The acquisition was funded by increasing
       the existing shareholder loan facility.
    2. Sale of Completed Inventory:
       The Company has completed the sale of a portfolio of completed
       residential and commercial properties, valued at £7 million, to OH UK
       Holdings Limited (“OHUK”), a company connected with One Heritage
       Development Limited (“OHPD”), including properties at Bank Street
       (Sheffield), Lincoln House (Bolton), Oscar House (Manchester), and a
       commercial unit at St Petersgate (Stockport).

   With £2 million of debt linked to Oscar House as part of this transaction,
   the net proceeds of the portfolio sale reduced from £7 million to £5
   million and these proceeds will be utilised to reduce the existing
   shareholder facility (“Existing Loan Facility”) from £14 million to £9
   million.

    3. Refinance of Existing Loan Facility: As previously announced on 2
       October 2024 the Company entered into a new £7 million loan facility
       with OHUK at an interest rate of 6%, i.e., lower than the previous
       rate of 7%, such facility is now available following completion of the
       property transactions outlined above. The loan has a repayment date of
       31 December 2025, with an option to extend for up to 36 months. OHUK
       is a related party, sharing the same majority shareholders as ZNT and
       OHPD.

   This new loan has been drawn down in full and used to partially repay the
   Existing Facility.  The balance of approximately £2 million of the
   Existing Facility has been written off by OHPD as part of the
   restructuring, demonstrating OHPD's commitment to ZNT’s success and
   financial stability. The Existing Loan Facility has therefore been settled
   in full and terminated.

    

   Listing Status

   As announced 12 November 2024, the Company has applied to the Financial
   Conduct Authority (“FCA”) and London Stock Exchange plc (“LSE”) to delist
   its ordinary shares from the Main Market of the LSE. The Company’s shares
   will be cancelled from trading on the Main Market on 11 December 2024 and
   the last day of trading on the Main Market will be at 4.30pm on 10
   December 2024. The ordinary shares are then expected to commence trading
   on the Access segment of the AQSE Growth Market (“Admission”) at 8:00 am
   on 11 December 2024 under the ticker symbol ZNT, with its existing ISIN
   number GB00BLF79495, SEDOL number BLF7949, and LEI number
   2138008ZZUCCE4UZHY23.

    

   Contacts

    

   Zentra Group plc

   Jason Upton

   Chief Executive Officer

   Email: jason.upton@zentragroup.co.uk

    

   Robert Holbrook

   Head of Finance

   Email: robert.holbrook@zentragroup.co.uk

    

   Hybridan LLP (Financial Adviser and Broker)

   Claire Louise Noyce

   Email : claire.noyce@hybridan.com

   Tel: +44 (0)203 764 2341

   About Zentra Group plc

   Zentra Group 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. The Company is currently
   listed on the Equity Shares (Transition) Segment for commercial companies
   previously on the Standard listing segment of the Main Market of the
   London Stock Exchange, trading under the ticker ZNT.

   For further information, please visit the Company’s website
   at  1 www.zentragroup.co.uk The previous
   website  2 www.oneheritageplc.com will automatically redirect to the new
   website.

    

    

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          GB00BLF79495
   Category Code: MSCH
   TIDM:          ZNT
   LEI Code:      2138008ZZUCCE4UZHY23
   Sequence No.:  360665
   EQS News ID:   2036023


    
   End of Announcement EQS News Service

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