Catalyst Housing Limited Catalyst Housing Limited enters merger talks (6026B)

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RNS Number : 6026B

Catalyst Housing Limited

24 September 2018

Catalyst Housing Limited

Formal merger discussions

Catalyst Housing Limited and Aldwyck Housing Group in formal merger discussions

Catalyst Housing Limited and Aldwyck Housing Group have today confirmed that they are in formal talks about joining together to form a group with 30,000 homes across London and the South East.

The Boards considered that their shared strong ethos for governance (both rated G1 by the regulator), shared geography, and other synergies could provide real benefits in terms of delivering excellent customer service, improved development opportunities and securing long term financial robustness.

The news follows Catalyst's recent announcement that Ian McDermott will be replacing Rod Cahill as Chief Executive. Ian is currently Chief Executive at Aldwyck and joins Catalyst in January 2019.

Discussions will continue and, if approved by both Boards, a new structure is expected to be formed during 2019.

Catalyst recognises the important contribution by lenders and investors in supporting the long-term financial strength and stability of the organisation, and will continue to work closely with all key partners regardless of the final outcome of discussions.

For further questions or enquiries on this announcement, please contact:

Michaela Booth

Director of Corporate Finance

[e-mail]

Mob: [phone]

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September 24, 2018 05:15 ET (09:15 GMT)