46GV Karbon 3.375%

TIDM46GV

RNS Number : 6919A

Karbon Homes Limited

27 September 2022

RNS Announcement - Karbon Homes:

Yorkshire based housing associations confirm transfer of engagements

Board members of two Yorkshire based housing associations, York Housing Association (YHA) and Leeds & Yorkshire Housing Association (LYHA), have confirmed they will join through a transfer of engagements.

The decision follows a thorough consultation process where both organisations sought the views of their colleagues, customers and stakeholders on the proposals. The consultation feedback, combined with a detailed due diligence process, have shaped the final business plan which has now been approved by each board.

The two organisations will now join together in a transfer of engagements that will see them operating as a combined 3,000-home regional subsidiary of northern based housing association Karbon Homes.

The partnership aims to deliver excellent services to customers and to play a key role in shaping places and communities across Yorkshire. The new partnership will create a stronger, more effective organisation, with a continued local approach and understanding of its customer base.

YHA has been a subsidiary of Karbon Homes since 2017 and has already seen the significant benefits of being part of a larger, supportive group with increased investment in YHA's homes and services and a growth of its geography across the wider Yorkshire area . The two organisations have also developed a strong shared culture, values and working relationship.

Following a successful interview process, existing LYHA Chief Executive, Mark Pearson, will take up the role of Managing Director of the new subsidiary. He brings to the role 25 years of knowledge and experience across the housing sector.

Integration plans will now progress with the aim for the combined subsidiary to be in place by December 2022.

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September 27, 2022 04:00 ET (08:00 GMT)

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