One Heritage Group Announces Directorate Change with CIO Resignation

One Heritage Group PLC, a prominent UK-based residential developer operational in the North of England, has officially announced the resignation of Yiu Tak (Peter) Cheung from his position as Chief Investment Officer (CIO), set to take effect by the 30th of April, 2024. Citing personal reasons for his departure, Peter Cheung's part-time role within the company comes to a close, marking an end to his tenure that was celebrated for substantial contributions to the organisation.

In light of this departure, One Heritage Group is taking steps to ensure a smooth transition by appointing a new Head of Investment, who is scheduled to start on April 15th, 2024. This strategic move, aimed at filling the gap left by Cheung, denotes a non-board role but is pivotal for the company's investment strategies and development plans. Meanwhile, an Interim Head of Finance has also been positioned since March 2024 to oversee the financial operations temporarily.

The company reassures that Cheung's resignation does not affect the robust relationship with its majority shareholder, highlighting a recently improved shareholder facility agreement, which now includes an extension option until December 31, 2028.

CEO Jason Upton expressed gratitude towards Cheung for his role in the company's IPO and early-stage developments, indicating that One Heritage Group remains optimistic about its future prospects with the enhanced senior management team in place.