REG - Home REIT PLC - Directorate Change

Home ReitAnnouncement

18/01/2024 07:00

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RNS Number : 0635A  Home REIT PLC  18 January 2024

 

18 January 2024

Home REIT plc

 

("Home REIT" or the "Company")

 

Home REIT appoints Michael O'Donnell as new Independent Non-Executive Chair

The Board of Home REIT plc announces the appointment of Michael O'Donnell to
succeed Lynne Fennah as Independent Non-Executive Chair. Michael will become
Chair with immediate effect, with Lynne remaining on the Board as a
Non-Executive Director to provide continuity. The remaining members of the
Board understand that shareholders would like to see a refresh of the Board
and so they will step down on publication of the Company's financial results.

 

Michael is currently a Non-Executive Director and chairs the Remuneration
Committee of Big Yellow Group PLC, the FTSE 250 self-storage company, having
been a member of its board since September 2021. He was previously a
Non-Executive Director and Chair of the Remuneration Committee at Helical plc
(2011-2019). With a background in private equity and complex restructuring
situations, he has chaired numerous businesses in challenging circumstances,
several of which have had a significant real estate element. He also has
experience in the social care and wider healthcare services sectors, including
as Chair of Cygnet Health Care (2013-2014), one of the UK's leading providers
of mental healthcare services, overseeing the eventual sale of the business.

 

Lynne Fennah said: "I recognise and share investors' frustration at the events
which have unfolded over the last 14 months and the deterioration in the
performance of the Company. With a new investment manager in place and the
stabilisation of the Company's portfolio and financial position ongoing, now
is the right time to step aside. Michael brings extensive restructuring,
public company and sector experience together with a strong conviction in
taking the business forward."

 

Michael O'Donnell said: "Home REIT continues to face challenges but progress
on critical workstreams is now well underway, with the publication of the
audited results a key priority. I am committed to protecting the interests of
all Home REIT's stakeholders and look forward to meeting with them over the
coming months."

 

There are no further items requiring disclosure under Listing Rule 9.6.13
regarding  Michael O'Donnell's appointment.

 

 

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

 FTI Consulting (Communications Adviser)  HomeREIT@fticonsulting.com

 Dido Laurimore                           +44 (0)20 3727 1000

 Eve Kirmatzis

 Oliver Harrison

 

The Company's LEI is: 213800A53AOVH3FCGG44.

 

For more information, please visit the Company's website: www.homereituk.com
(http://www.homereituk.com/)

 

 

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