Myriad Capital PLC Update to Investors (2960J)

TIDM42TI

RNS Number : 2960J

Myriad Capital PLC

28 March 2018

Myriad Capital PLC

CHP returns to top Governance rating from the Social Housing Regulator

Essex housing association and parent company of Myriad Capital PLC, Chelmer Housing Partnership Ltd (CHP) has regained the top 'G1' grading having strengthened its governance arrangements.

The Regulator of Social Housing (RSH) published its judgement today, 28 March 2018. This means that CHP has the top ratings for both financial viability (V1) and Governance (G1).

Keith Andrew, Chair of the CHP Group Board said: "In October 2017, as a result of changes approved by our Company Members, we appointed a new Board of Trustees who were all recruited for their skills and expertise. Together with the Executive Management Team we have been working to ensure a very high quality of governance, to improve the risk management and stress testing of our business plan, and we will continue to provide excellent homes and services for our residents."

Alongside the top G1 governance grading the RSH report also reaffirmed the top ratings for financial viability stating: "Based on evidence gained from the stability check, the regulator has assurance that CHP's financial plans are consistent with, and support, its financial strategy. The provider has an adequately funded business plan, sufficient security in place, and is forecast to continue to meet its financial covenants under a wide range of adverse scenarios."

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Editors Notes:

Based in Chelmsford, CHP is a charitable housing association in Essex. It is one of about 2,000 housing associations in the UK providing affordable properties to rent and buy.

Since its inception CHP now owns and manages over 9,400 properties and works in 13 of the 14 of the local authority areas in Essex.

For more information please contact:

Rosanna Low

Communications Co-ordinator,

E-mail: [e-mail]

Tel: [phone].

For more details about CHP please visit: www.chp.org.uk.

This information is provided by RNS

The company news service from the London Stock Exchange

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March 28, 2018 11:00 ET (15:00 GMT)