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UK Mortgages Ltd - Results of February Tender Offer Elections

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THE INFORMATION IN THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION (IN WHOLE OR IN PART) DIRECTLY OR INDIRECTLY IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION. THIS ANNOUNCEMENT DOES NOT CONSTITUTE A TAKEOVER OFFER OR AN OFFER OF SECURITIES.

Capitalised terms used in this Announcement, unless otherwise defined, have the same meanings as set out in the Circular.

24 March 2021

UK MORTGAGES LIMITED

(a closed-ended investment company incorporated in Guernsey with registration number 60440) LEI 549300388LT7VTHCIT59

Results of February Tender Offer Elections

Results of the February Tender Offer

The Company announces that a total of 83,905,269 Shares, being 36.14% of the Company's Shares in issue as at the February Tender Offer Record Date (being 6.00 p.m. on 23 March 2021), were validly tendered under the February Tender Offer. As a result, the February Tender Offer was oversubscribed. The Basic Entitlement of all Shareholders who have validly tendered their Shares will be accepted in full and excess tenders will be satisfied to the extent of approximately 12.5% of the excess Shares tendered.

A total of 26,666,666 Shares will be repurchased by the Company under the February Tender Offer and cancelled.

Following the implementation of this tender, the Company will have 205,466,222 Shares in issue. Accordingly, the total number of Shares with voting rights in the Company will be 205,466,222 and this figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

Expected Timetable

Cheques dispatched and payments through CREST made and CREST 31 March 2021
accounts settled

Balancing share certi?cates dispatched week beginning 31 March 2021

Notes:
1. References to times above and in the Circular generally are to London time unless otherwise specified.
2. All times and dates in the expected timetable and in the Circular may be adjusted by the Company. Any changes to the timetable will be notified via an RIS


Enquiries:
UK Mortgages Limited

Christopher Waldron (Chairman) 020 7260 1000
Numis Securities Limited, Financial Adviser and Corporate Broker
Hugh Jonathan 020 7260 1000
Nathan Brown