MANCHESTER - Zentra Group plc, a Manchester-based residential developer and manager, has formalized its relationship with its majority shareholder, One Heritage Property Development Limited (OHPD), through a new Relationship Agreement. The agreement follows Zentra's transition from the London Stock Exchange (LON:LSEG) to the Aquis Stock Exchange in December 2024.
The newly signed agreement aims to ensure Zentra's operational independence from OHPD, which holds a 65.15% stake in the company and supports Zentra with a £7 million loan facility. The terms of the arrangement stipulate that all transactions and dealings between the two entities will be conducted at arm's length and on normal commercial terms.
As part of the agreement, Zentra's Board will include at least two Independent (LON:IOG) Directors, with one serving as the Chair. Additionally, the OHPD Nominated Director will abstain from voting on specific matters, and a quorum for board decisions on certain reserved matters will require the presence of at least two Independent Directors.
The agreement underscores Zentra's commitment to transparent and accountable governance, aiming to provide value to all shareholders while maintaining a transparent relationship with its majority shareholder.
Zentra Group specializes in property development and management within the residential sector, primarily in the North of England. The company's focus is on identifying value and maximizing investor opportunities. Zentra trades on the Access Segment of the Aquis Stock Exchange Growth Market under the ticker ZNT.
The full terms of the Relationship Agreement, including the Schedule of Matters Reserved for the Board, can be found on Zentra’s website. The information in this article is based on a press release statement.
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