REG - Alternative Inc REIT - Directorate Changes

Alternative Income REITAnnouncement

10/11/2022 15:45

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RNS Number : 0364G  Alternative Income REIT PLC  10 November 2022

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MEMBER STATE OF THE EUROPEAN ECONOMIC AREA, CANADA, AUSTRALIA, JAPAN OR THE
REPUBLIC OF SOUTH AFRICA.

 

10 November 2022

Alternative Income REIT plc

(the "Company" or the "Group")

DIRECTORATE CHANGES

 

The Board announces that Alan Sippetts will resign as a Director and Chairman
of the Company on 30 November 2022. Alan's intention to step down was
previously announced in the Company's annual results.

 

The Board is pleased to announce the appointment of Simon Bennett as an
Independent non-executive Director and Chair-Designate with immediate effect.
This appointment was facilitated by independent recruitment consultants. Simon
will be appointed as Chairman on 30 November 2022.

 

Simon will also be appointed as a member of the Audit Committee and the
Management Engagement Committee.

 

Simon is a chartered accountant with extensive experience of providing
strategic, financial and other advice to growing companies. He has worked for
a number of the world's largest banks and has wide-ranging experience of both
the international debt and equity markets. He was Head of Corporate Finance
and Head of mid and small caps teams at Credit Lyonnais Securities (now Credit
Agricole), as well as head of Corporate Broking at Fairfax IS plc and Sanlam
Securities.

 

Simon is currently non-executive Chair of Inland Homes Plc, the AIM-listed
specialist housebuilder and brownfield site developer. In addition, he is
Chair of Drumz plc, the AIM-listed technology investment company, where he is
Chair of the Audit Committee and is a Non-executive Director of Kwalee Ltd,
the developer and publisher of games for digital distribution, where he is
also Chair of the Audit Committee. Simon is the principal partner of
Incremental Capital LLP, which he founded in 2004 to provide corporate finance
advice to mid and small cap and growing companies.

 

Simon does not own any shares in the Company.

 

No further information is required to be disclosed pursuant to Listing Rule
9.6.13R.

 

Alan Sippetts, Non-Executive Chairman of Alternative Income REIT plc,
comments:

"The Board are pleased to welcome Simon and I have every confidence in his
ability as my successor. He brings extensive experience as a non-executive
director and chairman, as well as investment and capital market knowledge."

 

Stephanie Eastment, Non-Executive Independent Director of Alternative Income
REIT plc, comments:

 

"I would like to thank to Alan for his significant contribution to the Company
and he will depart the business with our best wishes. During his tenure as
Chairman, the Company has focused on delivering long-term shareholder value
and generating an increasing dividend which is fully covered, these
fundamentals will continue to be paramount to the Board."

 

ENQUIRIES

 Panmure Gordon (UK) Limited                   +44 (0)20 7886 2500
 Alex Collins
 Tom Scrivens
 Chloe Ponsonby

 H/Advisors Maitland (Communications Adviser)  +44(0) 7747 113 930
 James Benjamin                                Aire-maitland@h-advisors.global (about%3Ablank)

 

The Company's LEI is 213800MPBIJS12Q88F71.

 

Further information on Alternative Income REIT plc is available at
(about%3Ablank) www.alternativeincomereit.com
(https://www.alternativeincomereit.com/) (1)

 

NOTES

Alternative Income REIT PLC aims to generate a sustainable, secure and
attractive income return for shareholders from a diversified portfolio of UK
property investments, predominately in alternative and specialist sectors. The
majority of the assets in the Group's portfolio are let on long leases which
contain index linked rent review provisions.

 

The Company's investment adviser is M7 Real Estate Limited ("M7"). M7 is a
leading specialist in the pan-European, regional, multi-tenanted real estate
market. It has over 225 employees in 15 countries across Europe. The team
manages over 580 properties with a value of circa €5.8 billion.

1    Neither the content of the Company's website, nor the content on any
website accessible from hyperlinks on its website or any other website, is
incorporated into, or forms part of, this announcement nor, unless previously
published on a Regulatory Information Service, should any such content be
relied upon in reaching a decision as to whether or not to acquire, continue
to hold, or dispose of, securities in the Company.

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