CPDG Enters into Share Purchase Agreement With London Based Property Development Group Rock 102

Core Viewpoint - Cheshire Property Development Group Limited (CPDG) has announced its acquisition of Rock 102 Limited (ROK), enhancing its luxury property portfolio through a Share Purchase Agreement with a focus on opulent living and exclusive residential real estate [1][2][3] Group 1: Acquisition Details - CPDG will acquire all issued and outstanding shares in ROK, with the transaction contingent on certain milestones and involving a part cash, part stock consideration known as the Deferred Earnout [2] - The acquisition includes all trading and operational assets of ROK, specifically a development at 102/104 Rose Hill, Surrey, which consists of seventeen apartments with a total anticipated gross development value (GDV) of £7,200,000 [3] Group 2: Project Timeline - The construction program for the ROK development is on schedule, with practical completion expected no later than June 2025 [3] Group 3: Management Commentary - Colin Ballantyne, Director of ROK, expressed enthusiasm about the transaction and the future of luxury real estate development under CPDG [4] - Paul Carroll, Director of CPDG, highlighted the strategic benefits of the acquisition, including the support from ROK's London-based team and the expansion of CPDG's national footprint [7] Group 4: Proposed Offering - CPDG plans to conduct a non-brokered placement through the issuance of Convertible Notes with a proposed principal amount of £500,000, aimed at qualified institutional buyers [5] - The Notes will bear customary interest and offer conversion rights to noteholders under specified conditions [6]