Urban Exposure in talks to sell loan book

Residential development finance firm Urban Exposure has confirmed it is in talks to dispose of its loan book and liquidate its parent company after facing pressure from activist shareholder Robert Tchenguiz. The company, which is listed on London’s AIM market, said it was in exclusive talks to sell its loan book to Pollen Street Capital. Any disposal would be accompanied by the sale of its asset management business to members of its existing management team. This would be followed by its delisting on AIM and liquidation of the parent company. Urban Exposure said this would potentially result in a return to shareholders in the region of 73p per share. To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette