Genesis Housing Association Ltd Proposed Merger with Notting Hill Housing (5057L)

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RNS Number : 5057L

Genesis Housing Association Ltd

19 July 2017

Genesis Housing Association and Notting Hill Housing enter Merger discussions

At its Board meeting on 19 July 2017, Genesis Housing Association (GHA) agreed to work towards a merger with Notting Hill Housing (NHH) subject to completing due diligence and receiving the relevant approvals, the merger is expected to be completed at the end of calendar year 2017.

The new merged organisation will be called Notting Hill Genesis (NHG).

Notting Hill Genesis

This merger will create greater efficiency, improve services for our residents, and improve development capacity such that the combined entity will create, a major housing association for London, owning and managing over 64,000 homes with an open market value of GBP17.7bn and with a turnover in excess of GBP700m. The new entity will have the financial strength to further advance the core social mission, focusing on housing people on low incomes and supporting the vulnerable.

Conference call for investors

The two organisations will host a conference call for investors at 10:30 am tomorrow, 21 July, to discuss the merger. The call will be chaired by Kate Davies, Chief Executive designate of NHG, who will be accompanied by Elizabeth Froude, (Deputy Chief Executive designate of NHG), Ebele Akojie (Finance Director of GHA) and Paul Phillips (Group Finance Director of NHH). If you would like to join the call, please e-mail [e-mail] and you will be provided with dial in details.

Additional information

A comprehensive information pack will be available on the investors section of GHA's website site at noon today.

http://www.genesisha.org.uk/about_genesis/finance_and_investors.aspx

This information is provided by RNS

The company news service from the London Stock Exchange

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July 20, 2017 05:01 ET (09:01 GMT)