Holmes Investment Properties Plc Trading Update

Holmes Investment Properties Plc (HIP), the leisure and adventure park developer, continues to make progress against its business goals and would like to summarize a number of key announcements that will be revealed in the next two weeks:

• The company will soon be launching a hybrid bond to raise money to fund its first sites. The documentation is complete and will be presented shortly. In addition, Holmes Investment Properties is on the cusp of announcing two further funding providers, who will back HIP on a site by site basis, providing substantial funding and alternative options to buy and develop particular sites.
• Further to our announcement that Mr Grant Wright has joined HIP, the company is creating an additional plan to augment the published strategy of developing twelve leisure venues over the next four years. Mr Wright has 25 years’ experience in operating leisure venues in the UK and Europe and he will be using that expertise to broaden the offering from HIP.
• The company will be also announcing more leisure partners in the very near future too, as we deepen our relationships in the leisure market. We will be working with strong, successful organisations that will provide synergy, making HIP’s market offering unique in the UK and Europe.
• With regard to confirming sites, HIP has documented Head of Terms and Options to Purchase agreements for the first three sites that the company wishes to purchase. Two of these are close to major cities in England, and the third is located at one of the most famous sporting venues in the world. These announcements are imminent and are subject to planning permission.

Martin Helme, CEO: “We will make substantive announcements on all the points in this trading update within the next few weeks. We are making significant progress on many fronts and we are very close to confirming a number of deals to drive forward our business plan.”