Genesis Housing Association Ltd Proposed Merger with Notting Hill Housing (5057L)
July 20 2017 - 5:01AM
UK Regulatory
TIDM93RF
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 Dipesh.Panchal@genesisha.org.uk 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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