Urban Exposure PLC Company Update (6965A)

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: [phone]

Graham Warner, Chairman

Sam Dobbyn, Chief Executive Officer

Liberum (NOMAD and Corporate Broker) Tel: [phone]

Neil Patel

Gillian Martin

Louis Davies

Nikhil Varghese

[e-mail]

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 [e-mail] 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)