Urban Exposure plc: Update on disposal

1 April 2020

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Urban Exposure Plc

Update on disposal 

Urban Exposure plc (the "Company") has received notice of termination from Honeycomb Holdings Limited ("HHL") of the share purchase agreement among the Company, HHL and Urban Exposure Amco Limited ("UE Amco") dated 10 March 2020 for the purchase by HHL of the issued share capital of Urban Exposure Lendco Limited ("UE Lendco" and the "SPA"). The purchase had been scheduled to complete today, 1 April 2020.

The Company considers that the termination of the SPA by HHL is without merit and reserves its position to take all measures to enforce its rights under the SPA, including, without limitation, seeking specific performance of HHL's obligation to acquire UE Lendco.

Enquiries:

Urban Exposure plc                Tel: +44(0)207 408 0022

William McKee, Chairman

Randeesh Sandhu, Chief Executive Officer

Sam Dobbyn, Chief Financial Officer

 

Jefferies (Financial adviser and Joint Corporate Broker)  Tel: +44(0)20 7029 8000

Rishi Bhuchar

Ed Matthews

James Thomlinson

William Brown

 

Liberum (NOMAD and Joint Corporate Broker)   Tel: +44(0)203 100 2000

Neil Patel

Gillian Martin

Jonathan Wilkes-Green

Louis Davies

 

MHP Communications (Financial Public Relations)         

Charlie Barker

Patrick Hanrahan

Sophia Samaras

Tel: +44(0)203 128 8540 / +44(0)203 128 8731

UrbanExposure@mhpc.com