Announcements

Northacre PLC, announces that a matched bargain facility has been put in place in order to facilitate trading in the Company’s Ordinary Shares pursuant to the Company’s cancellation of admission of its Ordinary Shares to trading on AIM on 12 January 2016 (the “Cancellation”).

Result of General Meeting and Cancellation of the Company's Ordinary Shares to Trading on AIM

Proposed Cancellation of Admission to Trading on AIM – Circular

Proposed Cancellation of Admission to Trading on AIM and Notice of General Meeting

Last night saw the completion of the biggest property deal since Brexit, with the official transferral of the former New Scotland Yard headquarters to its new owners, BL Development Limited, an investment vehicle controlled by Abu Dhabi Financial Group (ADFG), a leading investment firm headquartered in Abu Dhabi, UAE. BL Development Limited has appointed Northacre, London’s leading property development company to undertake the construction and development of the new scheme, which will be named ‘The Broadway’.

Spadille Limited acquires shares of the Company

Non-Executive Director’s Annual Review of ADCM Ltd consultancy agreement dated 9th June 2016

Northacre PLC (“Northacre” or the “Company”)

Result of General Meeting

Northacre announces that, at the Annual General Meeting ("AGM") held earlier today, all the resolutions put to shareholders were duly passed.

Further to the announcement on 13 August 2014, the non-executive director’s Annual Review of the ADCM Ltd contract, has now been made available on the Company’s website.

Enquiries:

Northacre PLC
Klas Nilsson (Non-Executive Chairman)
Niccolò Barattieri di San Pietro (Chief Executive Officer)
Tel: 020 7349 8000

finnCap Ltd
Stuart Andrews
Henrik Persson
Tel: 020 7220 0500

Notice is hereby given that the Annual General Meeting (the “Meeting” or “AGM”) of Northacre PLC (the “Company”) will be held at Northacre PLC, 8 Albion Riverside, 8 Hester Road, London SW11 4AX on 9th June 2016 at 10.00am for the following purposes:

ORDINARY RESOLUTIONS

To consider and, if thought fit, pass Resolutions 1 to 5 as ordinary resolutions.

  1. To receive the Company’s audited accounts for the financial year ended 31st December 2015 and the Strategic Report, Directors’ Report and Auditors’ Report on those accounts.
  2. To elect Mr. Fawad Khan as a Director of the Company.
  3. To re-elect Mr. Mustafa Kheriba as a Director of the Company.
  4. To re-appoint Kingston Smith LLP as auditor of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next general meeting at which accounts are laid before the Company.
  5. To authorise the Directors to determine the remuneration of the auditor.

By Order Of The Board Capita Company Secretarial Services Limited Corporate Secretary Date: 29th April 2016

Registered Office: Northacre PLC 8 Albion Riverside 8 Hester Road London SW11 4AX

Northacre December 31st 2015 Annual Report.

Northacre is pleased to announce that it has entered into a Development Management Agreement with Vicarage Gate (1314) Limited, a special purpose vehicle incorporated for the purposes of this project, under which the Company will be the Development Manager for the development of the ‘13 & 14 Vicarage Gate’ project. This project is separate from the neighbouring ‘Vicarage Gate House’ development, which is also under the instruction of Northacre.

Under the terms of the Development Management Agreement, the Company will be entitled to a fixed development management fee and a performance fee.

13 & 14 Vicarage Gate has been purchased with the intent of refurbishing the building. At present, both 13 & 14 Vicarage Gate are internally connected and consist of seven flats. The new scheme proposes eight residential apartments with a total area of 13,141 sq. ft. The area surrounding the property is predominantly residential.

Enquiries: Northacre PLC Klas Nilsson (Non-Executive Chairman) Niccolò Barattieri di San Pietro (Chief Executive Officer) Tel: 020 7349 8000

finnCap Ltd Stuart Andrews Henrik Persson Tel: 020 7220 0500

Northacre PLC is delighted to announce the Planning Committee of Westminster City Council has granted planning permission, subject to signing a Section 106 agreement, for the redevelopment of the Headquarters of New Scotland Yard, a site known as Ten Broadway. The development is an exciting opportunity to create a contemporary Westminster destination. It will provide exceptional residential, office and retail space and a generous new public sphere linking Victoria Street with Broadway and Dacre Street to the north.

Niccolo Barattieri di san Pietro, CEO of Northacre comments; “Ten Broadway will be a landmark mixed-use scheme of one million square feet, nestled between the historic attractions of Parliament and Buckingham Palace. The development is set to complete in 2021 and will feature six architecturally striking buildings, which will each offer outstanding views. The design has been carefully considered to incorporate materials sympathetic to the sandstone and brick of the area. Thanks go to our planning consultants, Bilfinger GVA and the architects Squires and Partners for their unwavering commitment to the scheme.

“We are very proud to have been awarded planning permission for this scheme and look forward to starting work on creating an exciting new destination for Westminster.”

Murray Levinson, Partner at Squire and Partners comments; “Ten Broadway creates six buildings on a plan designed to frame views of the Grade I listed 55 Broadway from Victoria Street. Elevations are composed with a distinctive vertical expression, referencing the local vernacular in the rhythm of façades and the use of materials sympathetic to the area.”

“As a whole, the development expresses a transition between the historic development to the north and the more contemporary architecture along Victoria Street, whilst providing exemplary accommodation for local residents and businesses.”

Enquiries:

APR Communications Emily Shires 020 7351 2227 / eshires@aprcommunications.com

Northacre PLC Niccolò Barattieri di San Pietro (Chief Executive Officer) 020 7349 8000

finnCap Limited (Nominated Adviser and Broker) Stuart Andrews 020 7220 0500

Northacre is pleased to announce the appointment of Mr. Fawad Tariq Khan, as a Director of the Company, with immediate effect.

Fawad, aged 32, heads Integrated Alternative Finance, the debt platform of Abu Dhabi Financial Group LLC (the Company’s ultimate parent company), having joined in April 2014, where he focuses on advising on and arranging debt transactions. Fawad began his career with Deloitte in London focusing on strategy consulting and financial advisory roles. He moved to Deloitte’s United Arab Emirates offices in 2010 where he helped set up its regional debt advisory practice.

The Company also announces that Mr. Jassim Alseddiqi has resigned as a Director, with immediate effect. There is no other information that is required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules.

Enquiries: Northacre PLC Niccolò Barattieri di San Pietro (Chief Executive Officer) 020 7349 8000 finnCap Limited (Nominated Adviser and Broker) Stuart Andrews 020 7220 0500

Notice is hereby given that the Annual General Meeting (the “Meeting” or “AGM”) of Northacre PLC (the “Company”) will be held at Northacre PLC, 8 Albion Riverside, 8 Hester Road, London SW11 4AX on 2nd June 2015 at 10.00am for the following purposes:

ORDINARY RESOLUTIONS

To consider and, if thought fit, pass Resolutions 1 to 4 as ordinary resolutions.

  1. To adopt the Company’s audited accounts for the financial year ended 31st December 2014 and the Strategic Report, Directors’ Report and Auditors’ Report on those accounts.
  2. To re-elect Mr. Jassim Alseddiqi as a Director.
  3. To re-appoint Kingston Smith LLP as auditor of the Company to hold office as such until the next general meeting at which accounts are laid before the Company.
  4. To authorise the Directors to determine the remuneration of the auditor.

By Order Of The Board Capita Company Secretarial Services Limited Corporate Secretary Date: 30th April 2015

Registered Office: Northacre PLC 8 Albion Riverside 8 Hester Road London SW11 4AX

Northacre PLC is pleased to announce its interim financial results for the six months ended 30th June 2015.

Enquiries: Northacre PLC Niccolò Barattieri di San Pietro (Chief Executive Officer) 020 7349 8000

finnCap Limited (Nominated Adviser and Broker) Stuart Andrews Henrik Persson 020 7220 0500

Northacre announces that at its Annual General Meeting (“AGM”) held earlier today, all resolutions put to shareholders were duly passed.

Enquiries: Northacre PLC
Klas Nilsson (Non-Executive Chairman) Niccolò Barattieri di San Pietro (Chief Executive Officer) Tel: 020 7349 8000

finnCap Ltd Stuart Andrews Henrik Persson Tel: 020 7220 0500

Northacre December 31st 2014 Annual Report.

Northacre PLC is delighted to announce that the planning committee of Westminster City Council has granted planning permission subject to signing a Section 106 agreement on the design submitted for the prized No. 1 Palace Street site. A landmark building, the 302,377sq ft development, adjacent to Buckingham Palace uniquely spans five different iconic architectural styles.

Set to complete at the end of 2017, the architecturally complex development is located at the meeting point of St James, Mayfair and Belgravia and will boast the unparalleled attention to detail and industry leading interior design Northacre and it’s design studio N Studio have become synonymous with. London’s driving force in ultra-prime residential developments, Northacre has long been respected for its unrivalled expertise in reviving prestigious heritage sites, many of which are listed and include Observatory Gardens, Earl’s Terrace, The Bromptons, Kings Chelsea, The Phillimores and The Lancasters.

The much-anticipated No. 1 Palace Street site, offers a Grade II listed façade over looking the Palace, which will be meticulously restored and enhanced by Northacre’s contact book of specialist craftsmen. Northacre`s Design Team have been leading the design in conjunction with Squire and Partners to unlock the potential of this unique site.

The CEO of Northacre, Niccoló Barattieri di San Pietro comments, “We are extremely excited to deliver a site that will set a new standard for ultra-prime residential developments in London. No. 1 Palace Street is an exceptional proposition, bridging the best of historic London and new, with outstanding architecture, high-ceilings and contemporary interior design that will tempt the most discerning of buyers.

“We are proud to have been awarded permission for this ambitious and complex scheme. We have spent the last year refining the concept and cannot wait to start work on this important chapter in Northacre’s history and the landscape of SW1.”

For further information, please contact Emily Shires APR Communications. E: eshires@aprcommunications.com T: 020 7351 2227

Northacre 2014 Interim Report.

Further to the proposed amendments to the Company’s articles of associations set out in its announcement and circular to shareholders dated 14 August 2014, Northacre announces that, at the General Meeting (“GM”) held earlier today, the resolution put to shareholders was duly passed.

Enquiries: Northacre PLC Klas Nilsson (Non-Executive Chairman) Niccolò Barattieri di San Pietro (Chief Executive Officer) Tel: 020 7349 8000

finnCap Ltd Stuart Andrews Henrik Persson Tel: 020 7220 0500

Northacre announces that at its Annual General Meeting (“AGM”) held earlier today, all resolutions put to shareholders were duly passed. Resolution 6 and 7 were withdrawn prior to the AGM.

Enquiries: Northacre PLC
Klas Nilsson (Non-Executive Chairman) Niccolò Barattieri di San Pietro (Chief Executive Officer) Tel: 020 7349 8000

finnCap Ltd Stuart Andrews Henrik Persson Tel: 020 7220 0500

NOTICE OF THE GENERAL MEETING TO BE HELD AT 8 ALBION RIVERSIDE, 8 HESTER ROAD, LONDON SW11 4AX ON 8 SEPTEMBER 2014.

Northacre has today posted a circular to shareholders in connection with the proposals set out in its announcement of 13 August 2014 (the “Circular”) and convening a general meeting of the Company (“General Meeting”). The Company has also today declared an interim dividend of 35.43 pence per ordinary share, payable on 5 September 2014 to shareholders on the register on 22 August 2014. The General Meeting will be held at 11.00 am on 8 September 2014 at the Company’s offices, 8 Albion Riverside, 8 Hester Road, London SW11 4AX. A copy of the Circular will be available on the Company’s website shortly. Separately, further to the Notice of Annual General Meeting (the “AGM”) accompanying the Company’s annual report and accounts for the year ended 28 February 2014, the Company announce that resolutions 6 and 7 are being withdrawn. The AGM will be held at 9.30am on 26 August 2014 at the Company’s offices.

Enquiries: Northacre PLC Klas Nilsson (Non-Executive Chairman) Niccolò Barattieri di San Pietro (Chief Executive Officer) Tel: 020 7349 8000

finnCap Ltd Stuart Andrews Henrik Persson Tel: 020 7220 0500

Northacre announces certain amendments to its consultancy agreement with ADCM Ltd (“ADCM”) which was originally announced on 27 June 2013 (the “Original Agreement”).

The Company has entered into an amended consultancy agreement with ADCM (the “Amended Agreement”), pursuant to which ADCM shall no longer be entitled to receive a fee of 35% of the profits earned by Northacre or the wider Northacre group as a result of engagements entered into during the term of the agreement. This applies to both historic and future periods. The performance of ADCM under the Amended Agreement and the annual fee payable to ADCM will be reviewed by the non-executive directors of the Company on an annual basis (the “Annual Review”) and any proposed increase in annual fee will be subject to the passing of a special resolution by the Company’s shareholders. The outcome of the Annual Review shall be presented to shareholders at the Company’s annual general meeting. Other clarifications to the terms of the Original Agreement have also been made in the Amended Agreement.

The Company is also proposing to make certain changes to the Company’s Articles of Association, which shall be subject to shareholder approval by special resolution at a general meeting. Further details of the changes are set out in a circular to shareholders, which shall be posted as soon as practicable.

It is also the Directors’ current intention, following the preparation of up to date accounts, for the Company to declare an interim dividend of approximately £15 million. Further announcements regarding any such dividend and the dividend timetable will be made in due course.

Jassim Alseddiqi and Mustafa Kheriba, both directors of the Company, are deemed to be related parties of ADCM and the Company for the purposes of the AIM Rules for Companies (“AIM Rules”). In view of this, the entry into the Amended Agreement comprises a related party transaction for the purposes of the AIM Rules. The Company’s independent directors consider, having consulted with finnCap Ltd, the Company’s nominated adviser, that the terms of the transaction being entered into are fair and reasonable insofar as the Company’s shareholders are concerned.

Enquiries: Northacre PLC Klas Nilsson (Non-Executive Chairman) Tel: 020 7349 8000

finnCap Ltd Stuart Andrews Henrik Persson Tel: 020 7220 0500

Northacre is pleased to announce completion of the acquisition of number 22 Prince Edward Mansion (the “Property”) by Northacre Capital (7) Limited, a wholly owned subsidiary of Northacre. The acquisition for a price of £3.7m payable in cash on completion, and subsequent development project, will be financed by a combination of Northacre’s existing cash resources and third party debt finance.

The Property is a sought after period mansion block located in the heart of Notting Hill, London, and enjoys close proximity to the expansive green spaces of Kensington Gardens. The concept is to create an exclusive 2,675 square foot lateral penthouse apartment, with the potential use of outdoor terraces. Northacre expect to start work on-site in October 2014 with completion due during the summer of 2015.

Enquiries: Northacre PLC
Klas Nilsson (Non-Executive Chairman) Niccolò Barattieri di San Pietro (Chief Executive Officer) Tel: 020 7349 8000

finnCap Ltd Stuart Andrews Henrik Persson Tel: 020 7220 0500

Northacre 2014 Annual Report.

Northacre is pleased to announce that Bassemey Limited (“Bassemey”), a Jersey-incorporated special purpose vehicle, has completed upon the sale of the 33 Thurloe Square project for an agreed price of £12.75m. The property was acquired by Bassemey in August 2013 for a total consideration of £8.6 million. As set out in the Company’s announcement of 22 August 2013, Northacre originally made an equity investment of £1.5 million (representing a 15% interest) in Bassemey from its existing cash resources.

Northacre were appointed as development managers to the project in February 2014, and under the terms of the Development Management Agreement (“DMA”), Northacre is also entitled to a fixed development management fee and an additional performance fee.

Northacre currently anticipates that the total proceeds from its participation in the project (comprising of both return on its equity investment and fees under the DMA) will be approximately £1.2 million.

Enquiries: Northacre PLC Klas Nilsson (Non-Executive Chairman) Niccolò Barattieri di San Pietro (Chief Executive Officer) Tel: 020 7349 8000

finnCap Ltd Stuart Andrews Henrik Persson Tel: 020 7220 0500

It has come to our attention that one or a number of overseas firms have contacted certain individual shareholders of Northacre concerning a proposed offer for their shares which may be false. The shareholder may be told that this is in respect of a takeover bid. Requests are made to shareholders for them to provide certain personal information, shareholding proof, and/or send funds to an escrow account in order to proceed.

Northacre believe that this contact may be an example of advance fee fraud and/or recovery room fraud. The Financial Services Authority (“FSA”) has warned that it is increasingly common for shareholders to receive unsolicited phone calls or correspondence concerning investment matters. These are typically from overseas based brokers who target UK shareholders. Shareholders are advised to be very wary of any unsolicited advice, offers to transact in shares or offers of free reports into our Company.

Any firm soliciting investments from private individuals in the UK needs to be authorised by the FSA to carry out investment business. The FSA maintains a register of authorised firms on www.fsa.gov.uk/fsaregister.

If, after having checked the FSA website, you are in any doubt as to the action you should take or the legitimacy of any such offer or the request for information, Northacre advises that you should immediately seek your own independent financial advice from your stockbroker, solicitor, accountant or other appropriate independent financial adviser duly authorised under the Financial Services and Markets Act 2000 (as amended) if you are resident in the United Kingdom or, if not, from another appropriately authorised independent financial adviser. You may also contact, if you so wish, the FSA in the United Kingdom.

Enquiries: Northacre PLC Klas Nilsson (Non-Executive Chairman) Niccolò Barattieri di San Pietro (Chief Executive Officer) Tel: 020 7349 8000

finnCap Ltd Stuart Andrews Henrik Persson Tel: 020 7220 0500

Northacre is pleased to announce that it has entered into a Development Management Agreement under which the Group will be the Development Manager for the development of 26 Chester Square and 48 Eaton Mews Sought project.

Under the terms of the Development Management Agreement, the Group will be entitled to a fixed development management and interior design fee.

Enquiries: Northacre PLC Klas Nilsson (Non-Executive Chairman) Niccolò Barattieri di San Pietro (Chief Executive Officer) Tel: 020 7349 8000

finnCap Ltd Stuart Andrews Henrik Persson Tel: 020 7220 0500

The Company announces that it intends to change its accounting reference date from 28 February to 31 December.

The Company will publish its audited final results for the year ended 28 February 2014 before 31 August 2014, and unaudited interim figures for the six months ended 31 August 2014 by 30 November 2014. The Company will then publish its audited final results for the ten months ended 31 December 2014 by 30 June 2014.

The Company will subsequently publish its half-yearly reports to 30 June and annual audited accounts to 31 December in accordance with the AIM Rules for Companies.

Enquiries: Northacre PLC
Klas Nilsson (Non-Executive Chairman) Niccolò Barattieri di San Pietro (Chief Executive Officer) Tel: 020 7349 8000

finnCap Ltd
Stuart Andrews Henrik Persson Tel: 020 7220 0500

Northacre Plc has signed a new development management agreement with Vicarage Gate (1314) Limited for the development of the ‘13 & 14 Vicarage Gate’ project. The contract further boosts Northacre’s burgeoning residential development pipeline and supports its ambitious expansion plans in prime central London.

13 & 14 Vicarage Gate has been purchased with the intent of refurbishing the building. At present, both 13 and 14 Vicarage Gate are internally connected and consist of seven flats. The new scheme proposes eight residential apartments with a total area of 13,141 sq. ft. These handsome period buildings are located in the prestigious residential Cherry Tree conservation area of Kensington.

The project is independent of the neighbouring ‘Vicarage Gate House’ development, which is also under the management of Northacre. Northacre Plc will be entitled to a fixed development management fee, and a performance fee upon completion of the project.

The contract builds upon Northacre’s other recent high profile contract wins, including the former Kazakh Embassy on Thurloe Square in South Kensington and One Palace Street, a significant, partially listed building in a prime location adjacent to Buckingham Palace, formerly a hotel and subsequently government offices.

As a result of recent activity, Northacre estimates that it is currently among the top seven super high end developers for residential real estate in prime central London, based on gross development value.

Northacre is actively seeking to extend its portfolio and to establish additional joint ventures and investment partnerships, with a view to becoming the market leader in the super prime development arena, delivering the highest quality of luxury homes in the capital.

Niccolò Barattieri di San Pietro, CEO, Northacre Plc, said: “Northacre has historically demonstrated an exceptional ability to deliver some of the finest homes in London and we are now looking to take that expertise and knowledge further. The last twelve months has seen a strong period of project growth with some key acquisitions and the business is gathering momentum. We are extending our development pipeline to secure the best sites in London at prices that will allow us to deliver the strong returns we are recognised for.”

Since its establishment over 20 years ago, Northacre Plc. has recently become one of the most recognised names in London prime property development, with an enviable reputation for delivering the highest quality luxury new homes. Northacre Plc. was responsible for developing The Bromptons, Chelsea, a redevelopment of a listed neo-gothic former hospital into an internationally acclaimed residential scheme and most recently, the successful redevelopment of the landmark scheme at The Lancasters, Hyde Park.

For further press information please contact TTA Property: Becca Dwyer Tel: +44 (0) 20 7861 2579 Mob: +44 (0) 7824 320 775 Email: rdwyer@ttaproperty.co.uk

David Martin Tel: +44 (0) 20 7861 2563 Mob: +44 (0) 7775 580 575 Email: dmartin@ttaproperty.co.uk

The Company is pleased to provide the following trading update following the completion of its financial year ended 28 February 2014.

This financial year was one of transformation, with the Company undergoing a change in majority ownership to Spadille (a vehicle controlled by Abu Dhabi Capital Management), the appointment of a new Chief Executive, and the appointment of ADCM Ltd as consultant to the Company. The effects of these appointments began to show in new projects that the Company and its subsidiaries have recently been appointed to, namely 1 Palace Street and 33 Thurloe Square, and in the pipeline of opportunities that the Company is currently evaluating.

The Company expects to report consolidated revenue in the region of £3.0m compared to £3.5m in the prior year. This is a result of a reduction in Lancaster’s related revenue earned by Intarya. The Company also expects to report lower administrative expenses (£8.9m to circa £5.3m), principally as a result of the reduction in the bonuses paid in respect of the Lancasters development in the last financial year.

The Company has entered into two Development Management Agreements (“DMAs”) for the development of two Prime Central London (“PCL”) developments located at 1 Palace Street and 33 Thurloe Square. Both projects are expected to make substantial contributions to revenues over the coming several years with development fees expected to exceed £11m, as per the signed DMAs. In addition, the Company is entitled to a performance fee as part of the DMAs, and expects to benefit from returns on its minority equity investment in these projects.

The Directors of the Company are confident about the Company’s future prospects, supported by its significantly strengthened balance sheet post the recent fundraising that was underwritten by Spadille. Furthermore, the Company is enjoying enhanced market reputation and presence as a result of the business activities of the past year, and in particular its appointment as development manager to 1 Palace Street, one of the most prominent PCL schemes.

Enquiries: Northacre PLC
Klas Nilsson (Non-Executive Chairman) Niccolò Barattieri di San Pietro (Chief Executive Officer) Tel: 020 7349 8000

finnCap Ltd
Stuart Andrews Henrik Persson Tel: 020 7220 0500

On 5 December 2013, Northacre announced proposals to raise a total of approximately £12.5 million (before expenses) by way of an Open Offer to Qualifying Shareholders for 5,177,968 Open Offer Shares and the acquisition of a new company whose sole asset is cash of approximately £8.4 million, in consideration for the issue to Spadille of 10,433,927 Consideration Shares, subject inter alia to approval by Shareholders at the General Meeting.

The Open Offer closed for acceptances at 11.00 a.m. on 20 December 2013. The Company is pleased to announce that it has received valid acceptances in respect of 4,330,235 Open Offer Shares from Qualifying Shareholders, including applications under the Excess Application Facility. Consequently, pursuant to the terms of the Underwriting Agreement, Spadille have subscribed for the 847,733 remaining Open Offer Shares not taken up by Qualifying Shareholders.

Furthermore, at the General Meeting held today, the Resolution proposed in order to effect the Acquisition was passed and therefore the Acquisition Agreement remains conditional only upon Admission becoming effective.

Application has been made for the Admission to trading on AIM of the Open Offer Shares and Consideration Shares, which is expected to be effective from 8.00 a.m. on 24 December 2013.

The Open Offer Shares and Consideration Shares, when issued and fully paid, will rank pari passu in all respects with the Existing Ordinary Shares and therefore rank equally for all dividends or other distributions declared, made or paid after the date of issue of the New Ordinary Shares.

Subsequent to the issue of the Open Offer Shares and Consideration Shares and Admission the Company will have 42,335,538 Ordinary Shares in issue with no Ordinary Shares held in treasury. The above figure of 42,335,538 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 FSA’s Disclosure and Transparency Rules.

All defined terms in this announcement shall have the meanings ascribed to them in the announcement of 5 December 2013.

Enquiries:

Northacre PLC
Klas Nilsson (Non-Executive Chairman)
Tel: 020 7349 8000

finnCap Ltd
Stuart Andrews Henrik Persson
Tel: 020 7220 0500

The Company announced, inter alia, on 5 December 2013 that it was in advanced discussions to acquire Minerva’s interest in Lancaster Gate (Hyde Park) Limited, the company established by Northacre and Minerva as a joint venture to acquire, manage and develop The Lancasters.

This development reached practical completion in November 2011 and the last apartment at The Lancasters was sold this year. Northacre has now paid a total consideration of £6,182,000 to acquire Minerva’s interest. In return, Northacre will have full ownership and receive all future dividend distributions whilst continuing to manage the on-going snagging process.

This development has been a seven year process and to realise a product of such quality is a source of pride to the Group. This project has proved to be an excellent long term investment. It has been a great partnership with Minerva and both partners are very proud to have taken part in such a prestigious London development.

As set out in the announcement of 5 December the purchase of Minerva’s stake and taking on the snagging process is not expected to have a material effect on the Company’s operations or financial performance.

Enquiries:

Northacre PLC
Klas Nilsson (Non-Executive Chairman)
Tel: 020 7349 8000

finnCap Ltd
Stuart Andrews Henrik Persson
Tel: 020 7220 0500

The Company announces that it has committed to invest £10 million in Palace Revive Limited.

Palace Revive Limited is a special purpose company, financed by a variety of institutional investors, established to acquire 1 Palace Street, a property on which it has exchanged a contract to purchase. Completion is expected to occur during January 2014. 1 Palace Street is a significant, partially listed building, in a prime location adjacent to Buckingham Palace. Planning permission has been granted for a residential scheme with a restaurant on the ground floor and ancillary facilities including car parking, a gym and spa (subject to the terms of the agreement entered into by the Company pursuant to Section 106 of the Town and Country Planning Act 1990).

The investment is to be funded from Northacre’s current and future cash resources and it is currently intended that, following completion, Northacre will be appointed as development manager to Palace Revive Limited. It is expected that it will receive development management fees, and have a carried interest in profits accruing to Palace Revive Limited from the completed development.

Niccolò Barattieri di San Pietro, Chief Executive Officer, commented:

“I could not think of a better commencement to my tenure as CEO than with participating in the acquisition of an interest in 1 Palace Street. Securing such a significant development is a testament to the acquisition abilities of the new Northacre.

Building upon our track record of delivering unparalleled developments and creating exceptional value, we believe that 1 Palace Street will be the leading high-end residential development in prime central London for the coming years.

Northacre’s management and development team are fully committed to replicating the success of our past landmark developments and to achieving the Northacre premium. We intend to build upon this opportunity and continue to actively pursue further developments.”

Northacre PLC
Klas Nilsson (Non-Executive Chairman)
Tel: 020 7349 8000

finnCap Ltd
Stuart Andrews Henrik Persson
Tel: 020 7220 0500

London, UK (23 August 2013) – Northacre Plc. is pleased to announce that it will manage the development of 33 Thurloe Square (the “Property”). The Property has been acquired by Bassemey Limited, a Jersey-incorporated special purpose vehicle financed by investors arranged by Abu Dhabi Capital Management (“ADCM”). Northacre will refurbish the property and deliver a highly desirable, exquisite single residence overlooking Thurloe Square in South Kensington, London. Planning permission for converting the Property to residential occupation has been received but further permissions will be sought.

The Property has been acquired by Bassemey Limited for a total consideration of £8.6 million, of which £1.3 million (representing a 15% interest) has been provided from the existing cash resources of Northacre, through an equity investment in Bassemey Limited. It is intended that Northacre will receive development management fees during the course of the project and has a carried interest in profits arising from the completion and sale of the Property. The Property was sourced, and the transaction structured and led, by ADCM under the terms of the consultancy agreement announced on 27 June 2013.

Klas Nilsson, Non-Executive Chairman, commented:

Abu Dhabi Capital Management (ADCM) and Northacre Plc. recently announced a collaboration to expand Northacre’s pipeline in prime areas of central London through multiple site acquisition and development management bids. The acquisition of 33 Thurloe Square also follows this week’s appointment of Niccolo Barattieri di San Pietro as Chief Executive Officer, to support the high-end development manager’s expansion plans, as it looks to acquire further sites in prime central London.

33 Thurloe Square is located on one of London’s most prestigious garden squares, Thurloe Square, which is overlooked by the Victoria & Albert Museum (V&A). The property was once occupied by Sir Henry Cole, the first director of the V&A and was previously the Kazakhstan Embassy. It is situated steps away from Exhibition Road and Hyde Park and surrounded by cafes and restaurants.

Enquiries: TTA Property
Tel: +44 (0) 20 7861 2040

Tim Reid
treid@ttaproperty.co.uk

David Martin
dmartin@ttaproperty.co.uk

Becca Dwyer
rdwyer@ttaproperty.co.uk

Northacre Plc. has appointed former Partner of Estate Four, Niccolo Barattieri di San Pietro, as Chief Executive Officer, to support the high-end development manager’s expansion plans as it looks to acquire further sites in prime central London.

Niccolò has been appointed to continue to establish Northacre Plc.’s offering of boutique new build residential property in prime central London, but also to shape the company’s ambitious plans to raise its profile and reputation in key international cities. With the support of the new shareholders, Northacre Plc. is poised to expand its offering of unique developments, and be in a better position to source deals and new capital.

Niccolò brings to Northacre Plc. a wealth of experience, having worked for six years as a Partner at Estate Four, the international property developer based in London. Niccolo is experienced in driving successful and prestigious projects in London, New York and Los Angeles. He also has first-hand experience in some of the top global property markets, having been based in Italy, the USA, London, and Paris.

Mustafa Kheriba, Chief Operating Officer of Abu Dhabi Capital Management and Executive Director of Northacre Plc, comments:

“Through welcoming Niccolo’s breadth of expertise in high-end property development, we will continue to drive forward the expansion of Northacre Plc. into the global arena, whilst further cementing our position as one of London’s leading prime residential property development managers.

“Niccolò has a proven track record in bespoke property development, having been part of the management team of Estate Four that oversaw the business’ profits and produced significant returns for investors. Niccolo is an extremely valuable addition to our leadership team and will play an active role in our expansion plans.”

Since establishment over 20 years ago, Northacre Plc. has become one of the most recognised names in London prime property development, with an enviable reputation for delivering the highest quality luxury new homes. Northacre Plc. is responsible for The Bromptons, Chelsea, a redevelopment of a listed neo-gothic former hospital into an internationally acclaimed residential scheme and most recently, the successful redevelopment of the prestigious The Lancasters, Hyde Park.

Niccolò Barattieri di San Pietro, CEO, Northacre Plc., adds:

“It is fantastic to have joined Northacre Plc. at this exciting time to expand in central London and international cities. I am a firm believer that there is real scope to develop the business without just taking the traditional geographical sales route. Northacre Plc. already has a solid reputation for its expertise in the prime London property market and access to a substantial amount of capital, which will facilitate its expansion.”

Niccolo’s appointment as CEO follows the recent announcement of Alexandre de Rothschild to the board of Northacre Plc. as a Non-Executive Director.

Outside of Northacre Plc., Niccolò also acts as an adviser to the Chairman of Sunderland Football Club.

For further press information please contact TTA Property: Tim Reid Tel: +44 (0) 20 7861 2564 Mob: +44 (0) 7989 391790 Email: treid@ttaproperty.co.uk

David Martin Tel: +44 (0) 20 7861 2563 Mob: +44 (0) 7775 580575 Email: dmartin@ttaproperty.co.uk

Northacre is pleased to announce that it will manage the development of 33 Thurloe Square (the “Property”). The Property has been acquired by Bassemey Limited, a Jersey-incorporated special purpose vehicle financed by investors arranged by Abu Dhabi Capital Management (“ADCM”). Northacre will refurbish the property and deliver a highly desirable, exquisite single residence overlooking Thurloe Square in South Kensington, London. Planning permission for converting the Property to residential occupation has been received but further permissions will be sought.

The Property has been acquired by Bassemey Limited for a total consideration of £8.6 million, of which £1.3 million (representing a 15% interest) has been provided from the existing cash resources of Northacre, through an equity investment in Bassemey Limited. It is intended that Northacre will receive development management fees during the course of the project and have a carried interest in profits arising from the completion and sale of the Property. The Property was sourced, and the transaction structured and led, by ADCM under the terms of the consultancy agreement announced on 27 June 2013.

Klas Nilsson, Non-Executive Chairman, commented:

“We are delighted that ADCM has secured this project and assigned Northacre as development manager. We expect this project will prove to be an exciting venture for Northacre’s development team. Furthermore, it is particularly pleasing that the success of the Lancasters project has provided us with the financial capability to participate in opportunities such as this. We intend to continue, together with ADCM, to actively pursue similarly attractive opportunities and look forward to providing updates as this project progresses.”

Northacre PLC
Klas Nilsson (Non-Executive Chairman)
Tel: 020 7349 8000

finnCap Ltd
Stuart Andrews Henrik Persson
Tel: 020 7220 0500

Northacre is pleased to announce the appointment of Mr. Niccolò Barattieri di San Pietro to the board as a Chief Executive Officer with effect from 1 September 2013.

Mr. Barattieri has most recently spent over seven years as a Partner at Estate Four, property development company focused on high-end and luxury projects. Prior to this, Niccolò spent 10 years as a hedge fund manager and trader at Newman Ragazzi, Park Place Capital and Theorma Asset Management. He initially studied at The American University of Paris and subsequently obtained an MBA from Hawaii Pacific University in 1994.

Klas Nilsson, Non-Executive Chairman, commented:

“We are delighted to welcome Niccolò to our Board, we have been particularly impressed by the quality of projects he has delivered in his career. He brings with him a strong blend of relevant skills, experience and an international network which will add value to the executive team. We look forward to working with Niccolò to ensure that Northacre fulfils its full potential.”

Enquiries:

Northacre PLC
Klas Nilsson (Non-Executive Chairman) Niccolò Barattieri di San Pietro (CEO)
Tel: 020 7349 8000

finnCap Ltd
Stuart Andrews Henrik Persson
Tel: 020 7220 0500

Hudson Sandler Ltd
Michael Sandler
Tel: 020 7796 4133

Niccolò Pio Barattieri di San Pietro (age 42) is or has been a director or partner of the following companies or partnerships during the previous 5 years:

Northacre announces that all of the nine resolutions set out in the Notice of Annual General Meeting (“AGM”) sent to shareholders on 12 July 2013 were approved at the AGM held earlier today. All resolutions were passed on a poll and following is a summary of the poll votes that were received by the Company’s registrars:

Enquiries:

Northacre PLC
Klas Nilsson (Non-Executive Chairman)
Tel: 020 7349 8000

finnCap Ltd
Stuart Andrews Henrik Persson
Tel: 020 7220 0500

Hudson Sandler Ltd
Michael Sandler
Tel: 020 7796 4133

Abu Dhabi Capital Management (ADCM) and Northacre Plc have announced a collaboration to expand Northacre’s prime residential development pipeline in prime areas of central London through multiple site acquisition bids they have placed in the market in the past several weeks.

The collaboration aims to build on Northacre’s recent success with The Lancasters, and has set out a business plan to actively acquire further sites with a prime central London focus to deliver the highest quality of luxury homes.

Mustafa Kheriba, Chief Operating Officer of Abu Dhabi Capital Management and Executive Director of Northacre Plc, said:

“Northacre has demonstrated an exceptional ability to deliver some of the finest homes to London and we are now looking to take that expertise and knowledge to enable us to take on a great number of sites. Combining Northacre’s first hand practical experience of putting together and successfully delivering development projects and ADCM’s access to capital finance and network, this collaboration will enable us to hunt out the best suited sites in London at prices that will deliver strong returns.

Along with the appointment of ADCM’s senior management as Executive Directors at Northacre Plc, Alexandre de Rothschild has been appointed to the board of Northacre as a non-executive director. Kheriba adds: “Alex has great business acumen and is able to add his influence at board level by providing guidance, a strong network and strategic leadership that will compliment ADCM’s executive’s ability to source deals and secure financing.”

Furthermore, Northacre will soon announce the appointment of a new CEO who is someone who shares the same zest and drive for success as ADCM, and who has a proven pedigree in the luxury property arena.

For further press information please contact TTA Property: Tim Reid Tel: +44 (0) 20 7861 2564 Mob: +44 (0) 7989 391790 Email: treid@ttaproperty.co.uk

David Martin Tel: +44 (0) 20 7861 2563 Mob: +44 (0) 7775 580575 Email: dmartin@ttaproperty.co.uk

Northacre PLC is pleased to announce its financial results for the year ended 28th February 2013. The Annual Report and Accounts for the year then ended and Notice of the Company’s Annual General Meeting, to be held at the Company’s registered office at 9.30am on 19th August 2013, will be available shortly on the Company’s website www.northacre.com and are being posted to those shareholders who have elected to receive hard copies.

Extracts from the Company’s Annual Report and Accounts are shown below.

Enquiries:

Northacre PLC
Klas Nilsson (Non-Executive Chairman)
020 7349 8000

finnCap Limited (Nominated Adviser and Broker)
Stuart Andrews
Henrik Persson
020 7220 0500

Northacre is pleased to announce that the directors of the Company are recommending a payment of a special dividend (representing an interim dividend for the current financial year) of 40p per ordinary share to be paid on 22 July 2013. The record date for this payment will be 12 July 2013 and the ex-dividend date will be 10 July 2013.

Enquiries:

Northacre PLC
Klas Nilsson (Non-Executive Chairman)
Tel: 020 7349 8000

finnCap Ltd
Stuart Andrews
Henrik Persson
Tel: 020 7220 0500

Northacre is pleased to announce the appointment of Mr. Alexandre de Rothschild to the board as a Non-Executive Director with immediate effect.

Mr. de Rothschild brings with him over a decade of experience in investment banking and private equity. Mr. de Rothschild joined Rothschild in 2008 to establish its merchant banking platform. Prior to that, Alexandre has held positions with Argan Capital (formerly Bank of America’s European principal investing division), a leading London-based independent private equity fund, focused on acquiring and developing European mid-market companies. He began his career as an analyst in the M&A Global Industries team of Bear Stearns in New York.

Klas Nilsson, Non-Executive Chairman, commented:

“We are delighted to welcome Mr. de Rothschild to our Board and look forward to making use of his experience. We are confident that his contribution as an independent director will provide a valuable additional dimension to the Board.”

Enquiries:

Northacre PLC
Klas Nilsson (Non-Executive Chairman)
Tel: 020 7349 8000

finnCap Ltd
Stuart Andrews Henrik Persson
Tel: 020 7220 0500

Hudson Sandler Ltd
Michael Sandler
Tel: 020 7796 4133

Alexandre de Rothschild (age 32) is or has been a director or partner of the following companies or partnerships during the previous 5 years:

Current
Rothschild Concordia SAS (France)
Rothschild & Cie Banque SCS
RCB Partenaires SNC
Société Civile du Haras de Reux
Paris Orléans SCA
Treilhard Investissements

Previous
Rothschild Continuation Holding AG (Switzerland)
Delsey
Enricau SAS
Vuarchez SAS

There is no further information on Mr. de Rothschild required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

Northacre announces that it has entered into a consultancy agreement with ADCM Ltd (the “Agreement” and “ADCM”) under which ADCM will provide a range of advice, analysis and management support services to the Company. ADCM will also seek to introduce the Company to its network of real estate finance and development professionals, investors, and actively seek to source new opportunities for the Company across local and wider markets.

Under the terms of the seven-year Agreement, which the Company may terminate at each anniversary date, the Company shall pay to ADCM an annual fee of £1.2 million and ADCM shall be entitled to receive a fee of 35% of profits earned by the Company as a result of engagements entered into during the term of the Agreement. Any profits arising in relation to the Company’s The Lancasters development are specifically excluded from this fee arrangement.

Jassim Alseddiqi and Mustafa Kheriba, both directors of the Company, are deemed to be related parties of ADCM and the Company for the purposes of the AIM Rules for Companies (“AIM Rules”). In view of this, the entry into the Agreement comprises a related party transaction for the purposes of the AIM Rules. The Company’s independent directors consider, having consulted with finnCap Ltd, the Company’s nominated adviser, that the terms of the transaction being entered into are fair and reasonable insofar as the Company’s shareholders are concerned.

Enquiries:

Northacre PLC
Klas Nilsson (Non-Executive Chairman)
Tel: 020 7349 8000

finnCap Ltd
Stuart Andrews Henrik Persson
Tel: 020 7220 0500

Hudson Sandler Ltd
Michael Sandler
Tel: 020 7796 4133

Northacre regrets to announce that Mohamed Abdulsalam AlRafi has today resigned from his position as a Non-Executive Director of the Company with immediate effect. The Company and the Board would like to take this opportunity to thank Mohamed for his dedicated service and support to the Company and wish him the very best in his future endeavours.

Enquiries:

Northacre PLC
Klas Nilsson (Non-Executive Chairman)
Tel: 020 7349 8000

finnCap Ltd
Stuart Andrews Henrik Persson
Tel: 020 7220 0500

Hudson Sandler Ltd
Michael Sandler
Tel: 020 7796 4133

Northacre regrets to announce that Ken MacRae has today resigned from his positions with, and as a Director of, the Company with immediate effect. The Company and the Board would like to take this opportunity to thank Ken for his dedicated service to the Company and wish him well in his future endeavours.

Enquiries:

Northacre PLC
Klas Nilsson (Non-Executive Chairman)
Tel: 020 7349 8000

finnCap Ltd
Stuart Andrews
Henrik Persson
Tel: 020 7220 0500

Hudson Sandler Ltd
Michael Sandler
Tel: 020 7796 4133

Northacre (AIM: NTA) announces the appointment of finnCap Ltd as nominated adviser and broker with immediate effect.

For further information please contact:

Northacre Plc
Ken MacRae (Chief Executive Officer & Finance Director)
Klas Nilsson (Chairman)
Tel: 020 7349 8000

finnCap Ltd
Stuart Andrews / Henrik Persson
Tel: 020 7220 0500

Hudson Sandler Ltd
Michael Sandler
Tel: 020 7796 4133

Northacre announces that it has today received an interim dividend of £10,000,000 from Lancaster Gate (Hyde Park) Ltd, our joint venture with Minerva. This is the fifth interim dividend from this development project and brings the total received to date to £37.7m.

All but one of the apartments in the Lancasters development have now been sold and it is our current estimate that our total profit share (net of corporation tax) is likely to be in the region of £49.8m. As noted above, we have received £37.7m to date in dividends from this project, and therefore we estimate that a further £12.1m will be forthcoming.

Enquiries:

Northacre PLC
Ken MacRae (Chief Executive Officer & Finance Director) Klas Nilsson (Non-Executive Chairman)
Tel: (020) 7349 8000

Daniel Stewart & Company
Antony Legge
James Thomas
Tel: (020) 7776 6550

Hudson Sandler Ltd
Michael Sandler
(020) 7796 4133

Northacre PLC (“the Company or Group”) announces that Malcolm Williams has resigned as Non- Executive Director to pursue other opportunities.

Klas Nilsson said:

“On behalf of the Board, I would very much like to thank Malcolm for his valuable contribution and commitment to the development of the Group over the last years. We would like to wish him every success in the future”.

The Company would like to announce that Duncan Salmon has resigned as Company Secretary. The Board is currently reviewing options for the new appointment.

Klas Nilsson said:

“On behalf of the Board, our deepest thanks for the many years that Duncan initially through Campbell Hooper and now through Speechly Bircham, have rendered the Company with support, advice and contribution throughout the past 12 years”. The Board has resolve to change Klas Nilsson’s role from Executive Chairman to Non-Executive Chairman, and such change is expected to be implemented shortly.

Enquiries:

Northacre PLC
Ken MacRae (Chief Executive Officer & Finance Director) Klas Nilsson (Non-Executive Chairman)
Tel: (020) 7349 8000

Daniel Stewart & Company
Antony Legge
James Thomas
Tel: (020) 7776 6550

Hudson Sandler Ltd
Michael Sandler
(020) 7796 4133

The Company is today pleased to announce that Jassim Alseddiqi and Mustafa Kheriba have been appointed as directors of the Company.

Messrs Alseddiqi and Kheriba are the only two directors of Spadille Limited (“Spadille”), which made a recommended mandatory cash offer to acquire the entire issued and to be issued share capital of Northacre on 7 February 2013. On 15 February 2013, Spadille announced that it then held or had valid acceptances of the offer in respect of 50.49% of the Company’s issued share capital and that the offer was declared unconditional in all respects. Spadille is 100% owned by Abu Dhabi Capital Management LLC (“ADCM”). Jassim Mohammed RMS Alseddiqi Alansaari, 28, is the Chief Executive Officer of ADCM which he established in January 2011. Mr Alseddiqi joined Abu Dhabi Capital Group in 2006 and became Chief Executive Officer in 2008, managing global assets including public equities, hedge funds, fixed income, private equity and real estate. Mr Alseddiqi played an integral part in establishing several reputed financial services firms in the United Arab Emirates, and was instrumental in setting up Al Nahda Investments, Reem Finance (where he served on the board from 2006 to 2010) and Essdar Capital (where he served on the board from 2007 to 2010). Mr Alseddiqi received his Masters of Science degree in Electrical Engineering from Cornell University, and has several publications in international engineering journals.

Mustafa Ghazi Kheriba, 38, has been Chief Operating Officer of ADCM since July 2011 and is directly responsible for the day to day operations and financials of ADCM and is also responsible for origination, deal sourcing, fund raising, due diligence and corporate compliance. Prior to ADCM, Mr Kheriba was Vice President of Operations and Investment Management at Brainnox Investment Group and Vice President of Operations at Global Investment Council. Mr Kheriba has an MBA from Ohio Dominican University, and a BA from the University of Toronto.

The following information is disclosed pursuant to Rule 17, Schedule Two (g) of the AIM Rules.

Jassim Alseddiqi Current Appointments
Abu Dhabi Capital Group LLC
Candle One Ltd
AD Cap Manage Ltd
Abu Dhabi Capital
Management LLC
Abu Dhabi Capital
Management (DIFC) Ltd
ADCM SPEF GP Ltd
Bayswater One Ltd
SPE Qannas B Ltd
SPE Qannas C Ltd
MJS International Trading LLC
Emirates Buildings
Establishment
Qannas Investment Limited
Spadille Ltd

Jassim Alseddiqi Previous Appointments

Reem Finance JSC
Essdar Capital (DIFC) Ltd.
Dnata Travel Abu Dhabi LLC
Mobile Telecom Group LLC
Injaz Mena Investment Company
Khidmah Property
Management LLC First Gulf Financial Services LLC Emirates Buildings Establishment PJSC Al Dhabi Investment Company PJSC JLA International LLC Galaxy Building Materials LLC Acosta Investments Ltd. Optimo Commercial
Investments Ltd.

Mustafa Kheriba Current Appointments
AD Cap Manage Ltd
ADCM SPEF GP Ltd
SPE Qannas B Ltd
SPE Qannas C Ltd
Abu Dhabi Capital
Management (DIFC) Ltd
ADCM Ltd (Cayman)
Bayswater Limited
Spadille Limited

Jassim Alseddiqi is interested, indirectly, in 50.49% of the share capital of the Company. Jassim’s interest is through ADCM, of which he is a director and controller, and which holds 100% of Spadille. Jassim also has a 15% beneficial interest in ADCM, which may increase or decrease in the future. Mustafa Kheriba holds no direct or indirect interest in the share capital of the Company.

Enquiries:

Northacre PLC
Ken MacRae (Chief Executive Officer & Finance Director) Klas Nilsson (Chairman)
Tel: (020) 7349 8000

Daniel Stewart & Company
Antony Legge
James Thomas
Tel: (020) 7776 6550

Hudson Sandler Ltd
Michael Sandler
Tel: (020) 7796 4133

The Independent Directors note the recent press articles regarding the Recommended Mandatory Cash Offer (the “Offer”) by Spadille Limited (“Spadille”) for Northacre which erroneously suggested that Spadille had acquired the Company. The Independent Directors confirm that as of 25 January 2012 no Offer has formally been made for the Company and it remains independent. Spadille, as at 25 January 2012 own 48.6 per cent of the issued ordinary share capital of the Company. A copy of this announcement will be available at www.northacre.com The contents of the website referred to in this announcement are not incorporated into and do not form part of this announcement.

For further information, please contact Northacre PLC Duncan Salmon, Company Secretary Tel: (020) 7349 8000

Ernst and Young LLP (Financial adviser to Northacre) Julie Green Tim Medak Charles Allen Tel: (020) 7951 2000

Daniel Stewart & Company (Nominated adviser and broker to Northacre) Antony Legge James Thomas Tel: (020) 7776 6550

Northacre is pleased to announce that it has appointed Daniel Stewart & Company as its new Nominated Adviser and Broker with immediate effect.

Enquiries:

Northacre PLC
Klas Nilsson (Chairman and Chief Executive)
Ken MacRae (Finance Director)
020 7349 8000

Hudson Sandler Ltd
Michael Sandler
020 7796 4133

Peel Hunt LLP (Nominated adviser and broker)
Capel Irwin
Harry Florry
020 7418 8900

Northacre announces that it has received an interim dividend and consortium relief payment from Lancaster Gate (Hyde Park) Ltd, our joint venture with Minerva. The sums received were £10,000,000 in dividend and £1,199,457 in consortium relief. The receipt of the dividend represents the fourth interim dividend from the project, with the total received to date now £27,707,059. The proceeds of the dividend and consortium relief will be used to repay remaining debt of £1.76m (including interest) to Auster Real Estate Opportunities S.a.r.l. and other outstanding obligations of the business. After repayment of this debt and paying £1.9m in respect of the loan and profit share due to Northacre’s pension fund, the net cash position of the Group will be c£10m.

As we noted at the year-­‐end, the Board considers the payment of a dividend to Shareholders a priority, just as soon as sufficient profits are received from The Lancasters Development. In anticipation of this, we are required to re-­‐organise our reserves and the Board intends to issue a Circular to Shareholders in order that this can be put to a General Meeting in due course. Any distribution would follow after sufficient further dividends are received from The Lancasters, which we anticipate would be during the first half of 2013.

Enquiries:

Northacre PLC
Klas Nilsson (Chairman and Chief Executive)
Ken MacRae (Finance Director)
020 7349 8000

Hudson Sandler Ltd
Michael Sandler
020 7796 4133

Peel Hunt LLP (Nominated adviser and broker)
Capel Irwin
Harry Florry
020 7418 8900

Receipt of £13.56m Dividend and Update on The Lancasters

Northacre PLC announces that it has today received an interim dividend from Lancaster Gate (Hyde Park) Ltd, our joint venture with Minerva. The sum received was £13,559,500. This receipt represents the third interim dividend from the project, with the total received to date now £17,707,059, and we are now receiving 50% of the profits under the profit waterfall structure. The proceeds of this third dividend will be used to repay debt and other outstanding obligations of the business. The Debt remaining after this will be c£1.25m (excluding the pension fund loan), although over and above this we have a healthy cash balance available for working capital and to finance interior design project costs.

Our interim statement (for the 6 months to 31 August 2012) will be published in November 2012, however we would like to take this opportunity to provide further guidance on our expectations for profit share from the Lancasters development. We reported in our year-­‐end Statement (published on 24 July 2012) that our estimate of the Fair Value attaching to our interest in the Lancasters was £40.8m, which we are now able to clarify, with an upward revision. Given that just 5 of the apartments remain unsold, we now estimate that our total profit share (net of Corporation Tax) is likely to be in the region of £49.0m to £51.0m assuming sales continue at the price levels achieved thus far and once the remaining 5 apartments are sold. As noted above, we have received £17.7m to date and we therefore estimate that a further £31.3m to £33.3m will be forthcoming. The timing of the receipt of further dividends is not known.

As we stated in our Annual Report, our priority on receipt of further dividends, once all debt and other obligations are repaid and working capital provided for, is to make a distribution to our Shareholders and we hope to be able to make a further announcement about this in the coming months.

Enquiries:

Northacre PLC
Klas Nilsson (Chairman and Chief Executive)
Ken MacRae (Finance Director)
020 7349 8000

Hudson Sandler Ltd
Michael Sandler
020 7796 4133

Peel Hunt LLP (Nominated adviser and broker)
Capel Irwin
Harry Florry
020 7418 8900

Northacre PLC announces that Ken MacRae, Chief Executive & Finance Director, has purchased 10,000 ordinary shares (ten thousand) of Northacre PLC. The price paid was 59 pence per share. The Date of Purchase was 6 September 2012. Ken MacRae’s total holding after the Share purchase is 25,000 shares.

Enquiries:

Northacre PLC
Klas Nilsson (Chairman and Chief Executive)
Ken MacRae (Finance Director)
020 7349 8000

Hudson Sandler Ltd
Michael Sandler
020 7796 4133

Peel Hunt LLP (Nominated adviser and broker)
Capel Irwin
Harry Florry
020 7418 8900

Northacre PLC today announces its results for the year ended 29th February 2012.

For over 20 years Northacre has successfully designed, developed and marketed over £1.5bn of prime residential sites in London, a track record unrivalled by any other residential developer.

Northacre’s development portfolio includes The Lancasters in Bayswater, Park Street in Mayfair and The Vicarage Gate, The Bromptons & Earls Terrace in Kensington & Chelsea, all of which are recognised as some of London’s finest and most sought after addresses.

Northacre PLC today announces that it has agreed terms to refinance all of its corporate debt.

A secured Eurobond was issued and listed on the Channel Islands Stock Exchange in October 2011, providing £10.5m of financing. Northacre has now agreed terms to refinance the Eurobond through a loan facility of £15.0m provided by Auster Real Estate Opportunities Sarl, an entity established by Chenavari Investment Managers, an alternative investment manager based in London. The facility is for a term of 18 months and carries a coupon of 1.5% per month, which is a substantial saving on the previous financing.

The new facility will also provide significant funds to provide headroom over our working capital needs for the foreseeable future.

Update on Lancasters project Sales at the Lancasters are progressing well. As of today, only 11 apartments remain unsold, out of a total of 77.

Enquiries:

Northacre PLC
Ken MacRae (Chief Executive Officer/ Finance Director)
Klas Nilsson (Chairman)
020 7349 8000

Hudson Sandler Ltd
Michael Sandler
020 7796 4133

Peel Hunt LLP (Nominated adviser and broker)
Capel Irwin
Harry Florry
020 7418 8900

Northacre PLC announces that as of 23rd April 2012 Ken MacRae will become CEO for the Northacre Group. Klas Nilsson will continue as Executive Chairman. Ken MacRae joined Northacre in June 2011 and has been working closely with Klas Nilsson since then to transition into the role of CEO. He will continue with his duties as FD alongside the CEO role for the time being. Reporting to the Board, Ken MacRae will be accountable for leading the strategic development and management of Northacre. As Executive Chairman Klas Nilsson will work closely with the CEO, assisting to guide the Company and maintain its position as one of London’s leading prime residential developers.

Klas Nilsson said

“We are looking forward to having Ken leading the team forward towards what promises to be a very exciting next chapter for Northacre in continuing to develop the brand”.

Enquiries:

Northacre PLC
Klas Nilsson (Chairman and Chief Executive)
Ken MacRae (Finance Director)
020 7349 8000

Hudson Sandler Ltd
Michael Sandler
020 7796 4133

Peel Hunt LLP (Nominated adviser and broker)
Capel Irwin
Harry Florry
020 7418 8900

On 26th January 2012 we announced that the Royal Borough of Kensington and Chelsea (“RBKC”) had resolved to grant Consent to our client, Vicarage Gate Limited, in respect of the proposed development at Vicarage Gate House, and 120 Campden Hill Road, Kensington W8, subject to the agreement of a S.106 Agreement under the Town and Country Planning Act 1990.

We now confirm that RBKC and Vicarage Gate Limited have agreed the terms of a S.106 Agreement in respect of the above and that the Consent is therefore valid and implementable.

Enquiries:

Northacre PLC
Klas Nilsson (Chairman and Chief Executive)
Ken MacRae (Finance Director)
020 7349 8000

Hudson Sandler Ltd
Michael Sandler
020 7796 4133

Peel Hunt LLP (Nominated adviser and broker)
Capel Irwin
Harry Florry
020 7418 8900

Northacre PLC announces that Ken MacRae, Finance Director, has purchased 3,000 ordinary shares (three thousand) of Northacre PLC. The price paid for 1,500 shares was 87 pence per share and another 1,500 shares at 88 pence per share. The Date of Purchase was 27 March 2012. Ken MacRae’s total holding after the Share purchase is 10,000 shares.

Enquiries:

Northacre PLC
Klas Nilsson
(Chairman and Chief Executive)
Ken MacRae (Finance Director)
020 7349 8000

Hudson Sandler Ltd
Michael Sandler
020 7796 4133

Peel Hunt LLP (Nominated adviser and broker)
Capel Irwin
Harry Florry
020 7418 8000

Northacre PLC announces that Ken MacRae, Finance Director, has purchased 2,000 ordinary shares (two thousand) of Northacre PLC. The price paid was 91.5 pence per share. The Date of Purchase was 7 March 2012. Ken MacRae’s total holding after the Share purchase is 7,000 shares.

Enquiries:

Northacre PLC
Klas Nilsson (Chairman and Chief Executive)
Ken MacRae (Finance Director)
020 7349 8000

Hudson Sandler Ltd
Michael Sandler
020 7796 4133

Peel Hunt LLP
(Nominated adviser and broker)
Capel Irwin
Harry Florry
020 7418 8000

With regard to the Vicarage Gate development (for which Northacre is the Development Manager), a planning committee of the Royal Borough of Kensington and Chelsea resolved on 24 January 2012 to grant planning consent for the development and for the provision of affordable housing off-­‐site at Campden Hill Road. The consent is, however, subject to completion of an agreement under Section 106 of the Town and Country Planning Act 1990 with the Royal Borough of Kensington and Chelsea. As stated in the Interim Results 2011, the first phase of development at Vicarage Gate has commenced with demolition of the existing structure due to be completed in February 2012. Construction of this prime site is due to fully commence by summer 2012.

Enquiries:

Northacre PLC
Klas Nilsson
(Chairman and Chief Executive)
Ken MacRae
(Finance Director)
Tel: (020) 7349 8000

Hudson Sandler Ltd
Michael Sandler
020 7796 4133

Peel Hunt LLP
(Nominated Adviser and Broker)
Capel Irwin
Harry Florry
Tel: (020) 7418 8900

Northacre is pleased to announce that it has appointed Daniel Stewart & Company as its new Nominated Adviser and Broker with immediate effect.

Following the recommended cash offer by Spadille Limited (‘Spadille’) for Northacre announced on 17 January 2013, Northacre announces that on 17 January 2013, Klas Nilsson, Executive Chairman of Northacre, sold 5,000,000 ordinary shares of Northacre to Spadille Limited (“Spadille”) at a price of 96p per share. These shares are equal to 18.7 per cent of the issued ordinary share capital of Northacre. Mr Nilsson now holds no interest in the Company.

The Company also announces that on 16 January 2013 Mohamed AlRafi contractually agreed to sell 135,000 shares to Spadille at a price of 96p per share, subject to his shares being dematerialised into certificated form, and Mohamed AlRafi, through his investment company MAR Investments Limited, sold 7,850,000 ordinary shares of Northacre to Spadille at a price of 96p per share. Together, these shares are equal to 29.9 per cent of the issued ordinary share capital of Northacre. Following the disposal of his personal shares, Mr AlRafi’s will hold no interest, direct or indirect, in the Company.

Enquiries:

Northacre PLC
Ken MacRae (Chief Executive Officer/ Finance Director)
Klas Nilsson (Chairman)
020 7349 8000

Hudson Sandler Ltd
Michael Sandler
020 7796 4133

Peel Hunt LLP (Nominated adviser and broker)
Capel Irwin
Harry Florry
020 7418 8900

The Company is pleased to announce that an interim dividend of £1,150,000 has been received from the Lancasters Development. This interim receipt is within the first tier of profit share (5 per cent).

The Lancasters Development reached its full practical completion on the 25th November 2011, and there continues to be good progress in sales. Northacre’s share of profit increases, as a proportion of the total dividend, as the level of distribution grows, up to a maximum of 50 per cent of the top tier.

Enquiries:

Northacre PLC
Klas Nilsson (Chairman and Chief Executive)
Ken MacRae (Finance Director)
Tel: (020) 7349 8000

Peel Hunt LLP
(Nominated Adviser and Broker)
Capel Irwin
Harry Florry
Tel: (020) 7418 8900

Northacre PLC today announces its interim results for the six months ended 31st August 2011.

Northacre has produced some of the most successful prime residential developments in central London, delivering over 1million sq ft of apartments and houses. Over the last twenty years Northacre has revived areas of Westminster and Kensington and Chelsea, developing in the most sought after locations in the capital for both local and international purchasers. Northacre’s reputation for creating prestigious, award-winning residences is unrivalled.

Northacre PLC today announces that it has agreed terms to issue a secured Eurobond, which, subject to regulatory clearance, will be listed on the Channel Islands Stock Exchange (CISX). As set out in the results for the year ending 28 February 2011, announced on 29th July 2011, Northacre has enjoyed significant financial support from related parties.

In order to replace these loans, the Company has widely tested the financing markets at a time of significant uncertainty and oscillating capital markets. This has included discussions with a range of commercial banks and private lending sources, which was limited by our inability to offer direct unencumbered real estate as security. The Company has now secured financing through the issue of a Eurobond, which provides new funding for the Group of £10.5m. This is being utilised to repay all existing bank and related party loans (with the exception only of the Pension Fund Loan -­‐ £750,000).

It will also provide sufficient headroom to finance working capital of the Company for the foreseeable future. The funding is underwritten by Bayswater One Limited, an entity established by Abu Dhabi Capital Management, an alternative investment manager based in the UAE. It is for a term of 18 months, with the option to extend by a further 6 months, and carries a coupon of 33% per annum Given that this financing has taken place at a time of global economic uncertainty, the Board is satisfied that the terms secured are in the interests of the Company, and provide financial security for the foreseeable future. An update on trading for the Company and also on progress at the Lancasters development will be given when the half-­‐year results announcement is made in November.

Enquiries:

Northacre PLC
Klas Nilsson
(Chairman and Chief Executive)
Ken MacRae
(Finance Director)
020 7349 8000

Hudson Sandler Ltd
Michael Sandler
020 7796 4133

Peel Hunt LLP
(Nominated adviser and broker)
Capel Irwin
Harry Florry
020 7418 8900

Northacre PLC today announces its results for the year ended 28th February 2011.

Northacre is the brand behind many of London’s landmark addresses. Over the last twenty years Northacre has revived significant areas of Westminster, Kensington and Chelsea, developing in the most sought after locations in the capital for both local and international purchasers.

Northacre’s reputation for creating prestigious, award-winning residences from existing properties is unrivalled.

The Lancasters

There continues to be good progress in construction and sales at the Lancasters. The show apartment was recently sold at a level commensurate with other recent sales. Practical completion of the whole development is on course for late summer 2011.

Loans

Northacre has secured a further loan of £2m for working capital and short term financing of project costs of certain interior design contracts which have been awarded.

The facility is for a term of up to 18 months and will be repaid from operating revenue and the proceeds of the Lancasters development, although it can be repaid earlier at any time without penalty. The loan is from Mr Abdulsalam AlRafi, the father of Mohamed AlRafi, a Board Director and Shareholder.

In general, although the senior debt market remains very challenging, we have a renewed energy in our discussions with prospective joint venture partners and investors and anticipate bringing forward new Joint Venture and development management initiatives in the coming months.

Enquiries:

Northacre PLC
Klas Nilsson
(Chairman and Chief Executive)
Ken MacRae
(Finance Director)
020 7349 8000

Hudson Sandler Ltd
Michael Sandler
020 7796 4133

Northacre PLC (“the Company or Group”) announces that Manish Santilale has resigned as Finance Director to pursue other opportunities. The Company is pleased to announce that Ken MacRae has been appointed as successor to Manish. Ken was previously with Arady Properties PSC where he was the Chief Investment Officer and Acting Chief Executive Officer of main Joint Venture. Prior to this, he was Head of Property Finance at Deutsche Postbank. All the changes take place with immediate effect.

Klas Nilsson said,

“On behalf of the Board, I would very much like to thank Manish for his valuable contribution and commitment to the development of the Group over the past 14 years. We would like to wish him every success in the future”.

Enquiries:

Northacre PLC
Klas Nilsson
(Chairman and Chief Executive)
020 7349 8000

Hudson Sandler Ltd
Michael Sandler
020 7796 4133

Peel Hunt LLP
(Nominated adviser and broker)
Capel Irwin
Harry Florry
020 7418 8000

The following information is disclosed in relation to Schedule Two paragraph (g) of the AIM Rules: Kenneth MacRae (aged 42) was a director or partner of the following in the last five years:

Iris Modern Urban Management LLC
Optima Real Estate Capital LLP
Optima Real Estate Ltd
Tower Markets Ltd

Northacre PLC announces that Jayne McGivern has today resigned by mutual agreement as Chief Executive Officer and as a Director.

Jayne McGivern will continue in association with Northacre on some specific new prime residential projects.

Klas Nilsson will become Chief Executive and Chairman.

Enquiries:

Northacre PLC
Klas Nilsson
Chairman
Manish Santilale
Finance Director
Tel: (020) 7349 8000

Peel Hunt LLP
Capel Irwin
Tel: (020) 7418 8900

Hudson Sandler Ltd
Michael Sandler
Tel: (020) 7796 4133

The Company has been notified today that Mr Klas Nilsson, Director, has sold a total of 40,000 ordinary shares of 2.5p (“Ordinary Shares”) representing 0.15 per cent of the current issued Ordinary Shares. Of this total, 10,000 Ordinary Shares were sold on 8th April 2011 at 135 pence per share, 15,000 Ordinary Shares were sold on 9th April 2011 at 134.25 pence per share and a further 15,000 Ordinary Shares were sold on 11th April 2011 at 132 pence per share.

Following this sale Mr Nilsson now holds 5,060,000 Ordinary Shares representing 18.93 per cent of the issued Ordinary Shares.

Enquiries:

Northacre PLC
Klas Nilsson
Chairman
Manish Santilale
Finance Director
Tel: (020) 7349 8000

Peel Hunt LLP
Capel Irwin
Tel: (020) 7418 8900

Northacre Plc (“the Company or Group”) is pleased to announce the appointment of Jayne Eleanor McGivern as Group Chief Executive Officer, with immediate effect. Klas Nilsson, the Company’s founder will continue as Executive Chairman. Jayne McGivern is an experienced Chief Executive Officer in the property sector. Her previous positions include Chief Executive Officer of Multiplex Plc’s businesses in Europe and Managing Director of Anschutz Entertainment Group during the acquisition and re-development of the Millennium Dome into the current venue, The O2.

In addition to her directorship of the Company, Jayne McGivern holds or has held the following directorships and is or was a member of the following partnerships, during the last five years:

Current Directorships/Partnerships

Red Grouse Property Limited
Wokingham Enterprises Ltd
One Housing Group

Past Directorships/Partnerships

Belgravia Acquisitions Limited
Belgravia Property Company Limited
Brookfield Cricklewood (UK) Limited
Brookfield Cricklewood Investment (UK) Limited
Brookfield Developments Europe Limited
previously called Brookfield Developments (UK) Limited
Brookfield Living Limited previously called
Brookfield Living Limited
Brookfield Multiplex Corporate Services Limited
previously called Brookfield Property (UK) Limited
Brookfield Development Management Limited
previously Brookfield Property Services Limited
Camelford Acquisitions Limited
Chelsec Management Services Limited
Choiceimage Limited
Clickpack Limited
Cookwork Limited
Cricklewood Regeneration Limited
D Cubed Holdings Limited
D Cubed Property Limited
Duelguide (Albert Embankment) Limited
Duelguide (Bloomsbury) Limited
Duelguide (Brompton Road) Limited
Duelguide (Clink Street) Limited
Duelguide (Lavington Street) Limited
Duelguide (Newcastle) Limited
Duelguide (St George Street) Limited
Duelguide (Stockley Park) Limited
Duelguide (UK) Limited
Duelguide (Woburn Place) Limited
Duelguide Acquisitions Limited
Duelguide Commercial Acquisitions Limited
Duelguide Commercial Investments Limited
Duelguide Communications Limited
Duelguide Developments Limited
Duelguide GS Limited
Duelguide Investments Limited
Duelguide Kingsway Limited
Duelguide Management Services Limited
Duelguide Properties Limited
Duelguide Property Investments Limited
Duelguide Securities Limited
Duelguide Stannifer Holdings Limited
Duelguide WH Limited
Evans Row Property Company Limited
Kingsyard Management Limited
Leadpeak Limited
London Fields Limited
Motortune Limited
Oneplace 2000
Newfound Property International Limited
Newfound UK Limited
Newfound NV
Plaza G.P. Limited
R&M Eden Fund Management Limited
R&M Fund Management Limited
Retail Parks (Hamilton) Limited
Retail Parks (Scotland) Limited
Sauchiehall Centre Limited
Softoften
Specialisms Limited
Stannifer (Consultancy) Limited
Stannifer Estates Limited
Stannifer Group Holdings Limited
Stannifer Limited
Stannifer Management Limited
Stannifer Retail Leasing Limited
Stannifer Retail Limited
Stannifer Ventures Limited
Strata SE1 Management Company Limited
TA (No.1) Limited
Telekonnect Limited
The Vanderbilt Racquet Club Limited
Tradepanel
Union Square Developments Limited
Vanderbilt 1992 Limited
Vanderbilt Acquisitions Limited
World Telecom Housing Limited
There are no further matters under AIM Rule 17 (Schedule 2) to disclose.

Klas Nilsson, Chairman of Northacre Plc, said:

‘I am absolutely delighted that Jayne has agreed to join our Board, during this period of great opportunity’.

Jayne McGivern, Chief Executive, said:

‘Northacre is the premium brand in residential development London, and I am looking forward to working with the Board, and the existing talented team, to take full advantage of current market conditions’.

ENQUIRIES:

NORTHACRE PLC Klas Nilsson – Chairman and Chief Executive
Manish Santilale – Finance Director
020 7349 8000

PEEL HUNT LLP
Capel Irwin
020 7418 8900

The Company has been advised that, with effect from Monday 20th December 2010, its Nominated Adviser and Broker became Peel Hunt LLP.

Enquiries:

Northacre plc Klas Nilsson, Chairman and Chief Executive Manish Santilale, Finance Director 020 7349 8000

Peel Hunt LLP Capel Irwin 020 7418 8900

The Company has been notified today that Mr Klas Nilsson, Director, has sold 50,000 ordinary shares of 2.5p (“Ordinary Shares”) at 110 pence per share representing 0.19 per cent of the current issued Ordinary Shares.

Following this sale Mr Klas Nilsson now holds 5,100,000 Ordinary Shares representing 19.01 per cent of the issued Ordinary Shares.

Enquiries:

Northacre PLC
Klas Nilsson – Chairman
Manish Santilale – Finance Director
Tel: (020) 7349 8000

Peel Hunt Ltd
Capel Irwin
Tel: (020) 7418 8900

Northacre PLC today announces its interim results for the six months ended 31st August 2010. Northacre is the brand behind many of London’s landmark addresses. Over the last twenty years Northacre has revived significant areas of Westminster, Kensington and Chelsea, developing in the most sought after locations in the capital for both local and international purchasers. Northacre’s revival philosophy, together with its brand and track record of delivery, are key components to unlocking the Northacre premium that consistently outperforms all market comparables.

Northacre’s reputation for creating prestigious, award-winning residences from existing properties is unrivalled.

Chairman’s Statement

The period under review has seen further consolidation for the Group in terms of resources and finance. The residential sector continues to suffer from a shortage in bank finance and this has unfortunately impacted on the pipeline of new development opportunities. However, despite these challenging times, I remain confident that the new approaches we have received in the last year will result in a new development opportunity being secured in the near future.

The Lancasters continues to progress well in terms of both sales and construction programmes. First phase completion remains on course for Spring 2011 with practical completion due in Summer 2011. To date we have sold 55% of the area at anticipated values and I am confident that the remaining units will achieve at least similar values.

As announced on 3rd August 2010, we disposed of our interest in Vicarage Gate. Following the sale of our interest, the Group continues to provide development management, architectural and interior design services together with an incentivised profit share participation. I am pleased to report that we have commenced with our partners Kokomo Beach PTE Ltd the improvement to the design and programme for Vicarage Gate. We anticipate a favourable outcome to these discussions with a view to commence construction on this site next year. Our Subsidiaries have also performed well in the period and in particular our Interior Design subsidiary, Intarya, has continued to perform strongly in the period with the completion of the highly acclaimed show apartment at The Lancasters.

Outlook

We have consolidated our business over the last year and I am confident that Northacre will continue as the number one name in the prime residential sector. The current business climate continues to be a challenge for the prime residential market as this has had a knock on effect on the banking sector and consumer confidence. Nevertheless I am confident that our brand and unrivalled track record will stand us in good stead for the future.

Financial Review

The restriction on senior debt lending for residential development continues to impact on the quantum of new prime residential schemes in Central London. Northacre remains focused on delivering The Lancasters scheme next year with sales and construction progressing well and on programme.

As demonstrated by the recent sales activity at The Lancasters, with a further 21% of sales secured since year-end, the prime residential sector is continuing to show signs of recovery. Although we continue to be cautious of this upturn in the market, we are confident that the Group’s unrivalled track record and skill base will allow us to get through these challenging times.

Review of Results

Headlines

Net Assets per share is 101.54 pence (2009: 37.04 pence). Net comprehensive income for the year is £16,895,282 (2009: loss £1,977,453) with a loss per share attributable to equity holders of 4.73 pence (2009: loss 7.40 pence). Consolidated Statement of Comprehensive Income

Group turnover for the six months period increased by 6% to £2,987,439 (2009: £2,814,710). The Group’s interior design subsidiary, Intarya, reported revenue growth by 24% to £2,038,318 (2009: £1,645,677). However, the absence of new development opportunities has resulted in reduced fee income of £949,121 (2009: £1,169,033) for the development management and architectural services in the period.

Administration costs for the six months decreased to £2.6m (2009: £2.9m) as a result of the measures taken at the beginning of the year. Further cost saving measures will continue to be implemented as appropriate and be reviewed on an on-going basis.

In accordance with International Accounting Standards we have made a fair valuation of our investment at The Lancasters with reference to secured sales as at 31st August 2010. This has been reflected in the results for the period.

Consolidated Statement of Financial Position

In accordance with International Accounting Standards, the investments in joint ventures (classified as available for sale financial assets in the Consolidated Statement of Financial Position) represent, where appropriate, the cash equity invested in each of our secured development schemes and any fair value adjustments. As mentioned above, we have calculated the fair value of our investment at The Lancasters and this is reflected in these results.

Including this fair value adjustment the available for sale financial assets amounted to £20.5m (2009: £1.89m). In line with our Joint Venture agreement with Minerva Plc, Northacre is entitled to profits from The Lancasters based on the following sliding scale: As announced on 3rd August 2010 the Group disposed of its interest in the Vicarage Gate scheme to our new joint venture partners, Kokomo Beach Pte Limited. The proceeds have been fully utilised in reducing the Group’s debt position. Following the sale of our interest, the Group continues to provide development management, architectural and interior design services together with an incentivised profit share participation.

Financing

The Group’s activities continue to be funded by a mixture of equity, cash and bank borrowings with the aim of maximising shareholder value. However given the restriction of senior debt finance from the banks for the residential market, the majority of the funding in the near future is likely to consist of equity investment rather than traditional debt finance.

Despite the continuing difficult economic climate, the Board is committed to expanding the Northacre brand further into prime Central London by seeking appropriate new development opportunities that meet our investment criteria.

Copies of the Interim Report are available on our website www.northacre.com

ENQUIRIES:  NORTHACRE PLC
Klas Nilsson
Chairman and Chief Executive
Manish Santilale
Finance Director
020 7349 8000

KBC PEEL HUNT
Capel Irwin
020 7418 8900

The Company has been notified today that Sutterton Label Printers has sold 800,000 ordinary shares of 2.5p (“Ordinary Shares”). Following this sale Sutterton Label Printers no longer have a notifiable interest.

Enquiries:

Northacre PLC
Klas Nilsson – Chairman
Manish Santilale – Finance Director
Tel: (020) 7349 8000

KBC Peel Hunt Ltd
Capel Irwin
Tel: (020) 7418 8900

At the Company’s AGM held on Friday 13th August 2010, all the resolutions were duly passed and Klas Nilsson, Chairman, made the following statement.

The year has been one of consolidation and since the year end we are beginning to see small signs of recovery in the economy and the prime residential sector. Nevertheless, cautious optimism remains at the forefront of our minds going forward for the next twelve months. Since the Company’s 2010 results were announced on 21st July 2010:

The Lancasters continues on programme for first phase completions in the Spring of 2011. Sales have now been secured representing almost 55% of the saleable area at values which demonstrate the strength at the top end of the market.

As announced on 3rd August 2010 the Company has sold its shareholding in The Vicarage scheme for £1.33m. We have also entered into new agreements for the provision of all the Group’s services at market level fees together with an incentivised profit share. We are very pleased that the next stage of this development can now move forward with our new partners.

  • Steps have been taken to further reduce the level of the Company’s overheads and these will be reflected in the results for the financial year to February 2011.
  • Positive discussions continue with Evans Randall and we are hopeful of securing at least one new scheme before the end of this financial year.
  • New commissions, both local and international, have been secured by our interior design subsidiary, Intarya, resulting in improved fee income.
  • The diversity of the Northacre Group Brand and the fee income from its subsidiary companies continues to prove be a real strength in challenging times.
  • We note the recent share price movements and confirm there are no other matters that the Board are aware of, other than those already announced.
  • It is also our belief that, as the global economy begins to recover, the senior debt lending market will improve allowing the Company to deliver its strategy of remaining as the leading brand in the prime residential sector in London.

Northacre Plc (“the Company”) notes today’s announcement by Minerva Plc in relation to their EGM Circular.

The Company confirms the details in the circular regarding The Lancasters in terms of the profit sharing scale which is per our Joint Venture Agreement with Minerva Plc. The Company will be entitled to profits on the following sliding scale:

Profits upto 10% of Project Costs 5% Profits between 10% and 15% of Project Costs 20% Profits between 15% and 20% of Project Costs 40% Profits above 20% of Project Costs 50%

ENQUIRIES:

NORTHACRE PLC
Klas Nilsson
Chairman and Chief Executive
Manish Santilale
Finance Director
020 7349 8000

KBC PEEL HUNT
Capel Irwin
020 7418 8900

Northacre Plc (“the Company”) announces today that it has completed the sale of its shareholding in Vicarage Gate Holdings Ltd (The Vicarage) to Kokomo Beach Pte Ltd for a total full cash sum of £1.33m representing the equity invested to date in the joint venture. Northacre will remain as the Development Manager and continue to provide the Development Management, Architectural and Interior Design services under new agreements, together with an improved incentivised profit share participation. Kokomo Beach Pte Ltd is the current joint venture partner in The Vicarage scheme. The proceeds will reduce the Company’s debt position and allow investment into new opportunities in 2010.

Klas Nilsson, Chairman, commented:

“Following the granting of planning for this prime residential development, we have been in very positive discussions with Kokomo regarding improving the design and the commencement of works on site which has set the platform for a long and promising business relationship between both parties going forward. We are very pleased with this outcome with our new partner and look forward to finally delivering this exceptional scheme in one of Central London’s most sought after areas and commensurate with the quality of the Northacre brand.” David Fu, Director of Kokomo, commented:

“We are delighted at the prospect of commencing The Vicarage development with Northacre. The scheme has been locked in planning for many years and we look forward to finally turning this site into a prime residential scheme in one of the most sought after areas of Kensington.”

Enquiries:

NORTHACRE PLC Klas Nilsson Chairman and Chief Executive Manish Santilale Finance Director 020 7349 8000

KBC PEEL HUNT Capel Irwin 020 7418 8900

Northacre PLC today announces its results for the year ended 28th February 2010.

Northacre is the brand behind many of London’s landmark addresses. Over the last twenty years Northacre has revived significant areas of Westminster, Kensington and Chelsea, developing in the most sought after locations in the capital for both local and international purchasers. Northacre’s revival philosophy, together with its brand and track record of delivery, are key components to unlocking the Northacre premium that consistently outperforms all market comparables.

Northacre’s reputation for creating prestigious, award-winning residences from existing properties is unrivalled.

Northacre plc (“the Company”) is pleased to announce that contracts have now been exchanged to sell a further 11 apartments at The Lancasters for a total consideration of £107.5 million. Following this sale, pre-sales totalling approximately £230 million have now been secured representing over 50 percent of the total area of the scheme.

These sales support the Company’s confidence that the development will generate significant returns. The official launch of the development commenced last week with the launch of the impressive show apartment, dressed by our Interior Design subsidiary, Intarya Ltd. Completion is scheduled for summer 2011.

Klas Nilsson, Chairman and Chief Executive of Northacre plc, said:

“We are truly encouraged by the level of interest we have seen in The Lancasters which further supports quality of the development in Central London. There is a chronic shortage of high end residential schemes of this quality in the market and when complete, we will deliver a range of stunning apartments, combining the historical features and grand setting of the building with contemporary facilities.”

All Enquiries:

Northacre Plc
Klas Nilsson, Chief Executive
Manish Santilale, Finance Director
020 7349 8000

KBC Peel Hunt
Capel Irwin
020 7418 8900

The Company has been notified today that Mr Mohamed Al Rafi, Director, has purchased through his investment company, MAR Investments Ltd, 2,340,000 ordinary shares of 2.5p (“Ordinary Shares”) at 28.00 pence per share representing 8.76 per cent of the current issued Ordinary Shares.

Following this purchase MAR Investments Ltd (Mr Al Rafi) now holds 7,985,000 Ordinary Shares representing 29.87 per cent of the issued Ordinary Shares.

Enquiries:

Northacre PLC
Klas Nilsson – Chairman
Manish Santilale – Finance Director
Tel: (020) 7349 8000

KBC Peel Hunt Ltd
Capel Irwin
Tel: (020) 7418 8900