V22 Plc - Receipt of Planning Permission for New Project

V22 plc

("V22" or the "Company")

Receipt of Planning Permission for New Project

V22 is delighted to announce that a group company has received planning permission from Newham Council for Silvertown Studios, London's largest workspace for artists, makers and creators at Silvertown, Royal Docks.

Silvertown Studios will comprise up to 200 purpose-built structures and shipping containers repurposed as workspace and studios, exhibition and community spaces, as well as maker/show space and pop-up retail for London's creative community. The new community will be set within a section of a 62-acre Silvertown site that will be delivered in the later stages of the ongoing wider Silvertown development.

Silvertown Studios will be delivered by V22 Silvertown Studios Ltd ("V22 Silvertown Studios") in partnership with the landowners - the Greater London Authority ("GLA"), and The Silvertown Partnership ("TSP") who are responsible for delivering the wider Silvertown regeneration project. V22 Silvertown Studios is 15% owned by V22 and 36% owned by the Group's wholly owned subsidiary V22 London Ltd. The remaining 49% of V22 Silvertown Studios is owned by a private investor.

The wider £3.5 billion Silvertown regeneration project will be ground-breaking in its approach to supporting entrepreneurs and growing businesses, and this approach starts with Silvertown Studios.

Tara Cranswick Chairperson of V22 commented: "This is a hugely exciting opportunity to deliver affordable workspace in London and be part of a growing community of artists and creative businesses in the Royal Docks. We very much look forward to welcoming our friends and shareholders, artists, entrepreneurs, local residents and businesses to become part of building and enjoying Silvertown Studios."

Olaide Oboh, Head of External Relations at The Silvertown Partnership, said: "We are excited to partner with V22 and the GLA to deliver Silvertown Studios, which will provide London's artists with a place to make, show and share. These much-needed studio and exhibition spaces at genuinely affordable rateswill help to establish a creative community which can thrive and grow as we bring forward the development of Silvertown".

The Directors of V22 plc accept responsibility for this announcement.

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ENQUIRIES:

V22 PLC

Stephen Corran

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PETERHOUSE CORPORATE FINANCE LIMITED

Fungai Ndoro and Mark Anwyl

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