Press Statement on Plymouth City Airport

25 January 2024       

Sutton Harbour Group plc

("Sutton Harbour" or the "Company")

Re Press Statement on Plymouth City Airport

The Company notes the press statement issued on 24 January 2024 by Plymouth City Council ("PCC"). The Company confirms that it received a letter from PCC on 19 January 2024 alleging breach of lease covenants in relation to Plymouth City Airport.

Plymouth City Airport Limited, a wholly owned subsidiary of Sutton Harbour Group plc, owns the long leasehold interest in the former airport site.  In March 2019, the Government Inspectors agreed to a five year safeguard of the airport site from non-airport uses as part of the approved Joint Local Plan. The Company has been actively engaged in various consultations and preparations in anticipation of the imminent end of the safeguarding.

The Company is considering, in conjunction with its advisers, the contents of the letter from PCC and will update the market as appropriate in due course.

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