Urban&Civic (UANC) - previously a privately-owned property developer - is still wading through a major transformation following the reverse takeover of Terrace Hill last month. Indeed, these half-year figures only relate to Terrace Hill. The deal was financed through a £170m share placing and the new entity was also renamed Urban&Civic. At the same time, the new entity moved its listing from Aim to the main market.
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These figures reveal nothing about Urban&Civic’s performance over the half and the first set of results for the enlarged operation will cover the nine months to 30 September 2014. These will report Urban&Civic's performance for the nine months and Terrace Hill's from 22 May 2014 (the date of the acquisition).