Urban Exposure PLC Company Update (6965A)
01 October 2020 - 4:00PM
UK Regulatory
TIDMUEX
RNS Number : 6965A
Urban Exposure PLC
01 October 2020
1 October 2020
THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION AS DEFINED UNDER
THE MARKET ABUSE REGULATION (EU) NO. 596/2014
Urban Exposure Plc
Company Update
On 22 September 2020, Urban Exposure PLC ("the Group") announced
that it expected shareholder returns from the Group's wind down
strategy to be within a range of between 72p-78p per ordinary share
and provided an estimate as to the timing of proceeds. At the time
of that update, the Group had a cash balance of GBP51m, of which it
expected approximately GBP26m to be distributed to shareholders
within a 2 month time frame. At that date, the Group had also
reduced its forecast capital drawdown obligations to approximately
GBP10.2m.
Following further repayments, the Group is pleased to announce
that its cash balance is now GBP65.5m, of which it expects to
distribute approximately GBP43m within the next 2 months. The
nature and timing of this capital return will be announced in due
course. In addition, the Group's forecast capital drawdown
obligations have further reduced to approximately GBP7.7m.
Enquiries:
Urban Exposure plc Tel: +44(0) 207 408 0022
Graham Warner, Chairman
Sam Dobbyn, Chief Executive Officer
Liberum (NOMAD and Corporate Broker) Tel: +44(0)203 100 2000
Neil Patel
Gillian Martin
Louis Davies
Nikhil Varghese
UrbanExposure@liberum.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDKKKBNBBKBFCN
(END) Dow Jones Newswires
October 01, 2020 02:00 ET (06:00 GMT)
Urban Exposure (LSE:UEX)
Historical Stock Chart
From Apr 2024 to May 2024
Urban Exposure (LSE:UEX)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about Urban Exposure Plc (London Stock Exchange): 0 recent articles
More Urban Exposure Plc News Articles