REG-Custodian Property Income REIT plc Custodian Property Income REIT plc: Directorate changes and transition to a fully independent board by the end of 2025

Custodian Property Income ReitAnnouncement

06/11/2024 07:15

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   Custodian Property Income REIT plc (CREI)
   Custodian Property Income REIT plc: Directorate changes and transition to
   a fully independent board by the end of 2025

   06-Nov-2024 / 07:00 GMT/BST

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                                                              6 November 2024

                                        

                       Custodian Property Income REIT plc

                                        

                           ("CREI" or "the Company")

                                        

   Directorate changes and transition to a fully independent board by the end
                                    of 2025

    

   Custodian Property Income REIT plc (LSE: CREI), which seeks to deliver  an
   enhanced income return by investing in a diversified portfolio of  smaller
   regional properties across the UK, announces that Ian Mattioli MBE DL will
   be stepping  down  from  the  Board with  immediate  effect  to  focus  on
   capitalising on the market opportunity in UK wealth management in his role
   as Chief Executive Officer of  Mattioli Woods Limited (“Mattioli  Woods”),
   following its recent transition to private ownership. 

    

   The Board is pleased to announce that Nathan Imlach has been appointed  as
   a new  non-executive  director.  Nathan is  currently  Senior  Independent
   Director of  Mortgage Advice  Bureau (Holdings)  plc and  Chief  Strategic
   Adviser to  Mattioli  Woods,  where  his  focus  is  on  acquisitions  and
   contributing to its future direction.   Nathan is a chartered  accountant,
   holds the  ICAEW’s  Corporate Finance  qualification  and is  a  Chartered
   Fellow of the Chartered Institute  for Securities and Investment.   Nathan
   was previously  Chief Financial  Officer of  Mattioli Woods  plc,  Company
   Secretary of CREI and a director of Custodian Capital Limited  (“Custodian
   Capital”, the Company’s Investment Manager). 

    

   Nathan has joined  the board  of the Company  for a  transition period  up
   until no later than the end of 2025, at which point the board of CREI will
   become fully independent from the Company’s Investment Manager.

    

   David MacLellan, Chairman of the Company, commented: "The Board thanks Ian
   for his invaluable contribution as founding director of the Company  since
   its establishment  in 2014.   Ian  instigated Mattioli  Wood’s  syndicated
   property initiative that developed into the seed portfolio for the  launch
   of the  Company.   The  Board  has  high  regard  for  Ian's  insight  and
   expertise, and he will continue to serve  a valuable role for CREI in  his
   capacity as chair of Custodian Capital.

    

   “Nathan also played a key role in establishing the Company and will  bring
   a valuable perspective to the Board prior to its transition to being fully
   independent by the end of 2025.”

    

   Ian Mattioli MBE DL, founding director of the Company, commented: “Back in
   1999, I was  instrumental in creating  Mattioli Woods’ property  syndicate
   initiative, which became the seed portfolio for the Company as we know  it
   today.   It  has  been  an  honour  to  serve  as  a  founding   director,
   contributing to the  Company’s vision and  strategic direction.  Whilst  I
   will no longer be  involved as a director,  I remain a major  shareholder,
   with my family  currently owning 6.4  million shares, which  we intend  to
   hold long-term as a transparent investment in quality property assets that
   produces sustainable income.  It continues to be our family’s intention to
   grow our existing  shareholding from  time to  time when  funds allow.   I
   remain committed  to  supporting  CREI's continued  success  as  chair  of
   Custodian Capital  and  as  a member  of  Custodian  Capital’s  investment
   committee.”

    

   In accordance  with the  Listing Rules,  there is  no further  information
   required to be disclosed pursuant to UKLR 6.4.6 R and 6.4.8 R.

    

                                    - Ends -

                                        

   For further information, please contact:

    

   Custodian Capital Limited                         Tel: +44 (0)116 240 8740
   Richard Shepherd-Cross / Ed Moore / Ian         1 www.custodiancapital.com
   Mattioli MBE DL
                                                                             
   Deutsche Numis                                    Tel: +44 (0)20 7260 1000
   Hugh Jonathan / George Shiel                               www.dbnumis.com
                                                                             
   FTI Consulting                                    Tel: +44 (0)20 3727 1000
   Richard Sunderland / Ellie Sweeney /     2 custodianreit@fticonsulting.com
   Andrew Davis

    

    

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   ISIN:           GB00BJFLFT45
   Category Code:  BOA
   TIDM:           CREI
   LEI Code:       2138001BOD1J5XK1CX76
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   357266
   EQS News ID:    2023155


    
   End of Announcement EQS News Service

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