08 January 2025
ZENTRA GROUP
PLC
(“Zentra”, “the
Company” or “the Group” or “ZNT”)
New Relationship
Agreement Signed with Majority Shareholder
Zentra Group PLC ("Zentra" or the
"Company"), the Manchester based residential developer and
development manager, is pleased to announce the signing of a new
Relationship Agreement with its majority shareholder, One Heritage
Property Development Limited ("OHPD"), following the Company’s
transition from the London Stock Exchange to the Aquis Stock
Exchange in December 2024.
This agreement formalises the
relationship between Zentra and OHPD to ensure that the Company
continues to operate independently of its majority shareholder. The
agreement also reinforces Zentra’s commitment to transparency,
accountability and shareholder value.
OHPD holds 65.15% of Zentra’s
issued share capital and provides support through a connected
company with a £7 million loan facility. The Relationship Agreement
ensures that all transactions and arrangements between Zentra and
OHPD will continue to be conducted at arm’s length and on normal
commercial terms.
Key terms of the Relationship
Agreement include:
-
Zentra’s Board will include at
least two Independent Directors, one of whom will serve as
Chair.
-
OHPD’s Nominated Director will not
vote on certain matters outlined in the agreement.
-
The quorum for board decisions on
specific reserved matters will require at least two Independent
Directors.
The Relationship Agreement
underscores Zentra’s ongoing focus on robust governance practices
and maintaining its independence while fostering a constructive and
transparent relationship with OHPD.
The full terms of
the Relationship Agreement, including the Schedule of Matters
Reserved for the Board, are available on Zentra’s website at
www.zentragroup.co.uk
Contacts
Zentra Group
plc
Jason Upton
Chief Executive Officer
Email:
jason.upton@zentragroup.co.uk
Robert Holbrook
Head of Finance
Email:
robert.holbrook@zentragroup.co.uk
Hybridan LLP
(Financial Adviser and Broker)
Claire Louise Noyce
Email :
claire.noyce@hybridan.com
Tel: +44 (0)203 764 2341
About Zentra
Group plc
Zentra Group is a property
development and management Company. It focuses on the residential
sector primarily in the North of England, seeking out value and
maximising opportunities for investors. The Company is currently
listed on the Access Segment of the Aquis Stock Exchange Growth
Market, trading under the ticker ZNT.
For further
information, please visit the Company’s website
at www.zentragroup.co.uk The
previous website www.oneheritageplc.com will
automatically redirect to the new website.
