REG - Empiric Student Prop - Director changes

Empiric Student PropertyAnnouncement

23/05/2022 07:00

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RNS Number : 3495M  Empiric Student Property PLC  23 May 2022

23 May 2022

Empiric Student Property plc

("Empiric" or the "Company" or, together with its subsidiaries, the "Group")

DIRECTOR CHANGES

The Board of Empiric Student Property plc (ticker: ESP), the owner and
operator of premium student accommodation serving key UK universities,
announces the following Board changes.

 

Lynne Fennah will be stepping down from her role as Chief Financial &
Sustainability Officer of the Company to pursue other interests. Lynne will
remain in her position until May 2023 to help ensure that an orderly handover
takes place. The Board will, with immediate effect, commence a search for her
successor.

 

Lynne joined Empiric in June 2017, as Chief Financial Officer. Over the past
five years, she has led the transformation of the business, including an
extensive insourcing programme. Lynne also took on the role of Chief Operating
Officer and, following Tim Attlee's departure in 2020, additional
responsibilities prior to the arrival of Duncan Garrood as Chief Executive
Officer in September 2020.

 

Stuart Beevor, Independent Non-Executive Director and Chair of the
remuneration committee of the Company, announced earlier this year that, after
six years, he would not be standing for re-election at today's AGM. The Board
is well advanced in its process to appoint Stuart's successor and will make an
announcement in due course.

 

Mark Pain, Non-Executive Chairman of Empiric Student Property plc, said:

"On behalf of the Board, I would like to thank Lynne for the significant
contribution she has made to Empiric over the last five years. During this
time, Lynne has led Empiric's transformation, creating a best-in-class
operational platform well-placed to drive profitable growth, and establishing
a more robust, resilient, transparent company well-positioned to continue to
deliver enhanced shareholder value that is sustainable over the long term.
Lynne leaves with our very best wishes for the future.

 

Stuart has provided valuable insights across all aspects of the Empiric
business and particularly in relation to the Company's property assets. He is
an exemplar of all that you would want and hope for from an effective
Independent Non-Executive Director. The Board will miss his contribution and
wishes him our very best."

 

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

 Empiric Student Property plc                                 (via Maitland/amo below)
 Duncan Garrood (Chief Executive Officer)
 Lynne Fennah (Chief Financial & Sustainability Officer)

 Jefferies International Limited                              020 7029 8000
 Tom Yeadon

 Andrew Morris

 RBC Europe Limited (trading as RBC Capital Markets)          020 7653 4000
 Marcus Jackson

 Elliot Thomas

 Maitland/amo (Communications Adviser)                        07747 113 930 / 020 7379 5151
 James Benjamin                                               empiric-maitland@maitland.co.uk (mailto:empiric-maitland@maitland.co.uk)

 Alistair de Kare-Silver

 

The Company's LEI is 213800FPF38IBPRFPU87.

 

Further information on Empiric can be found on the Company's website at
www.empiric.co.uk (http://www.empiric.co.uk/) .

 

Notes:

Empiric Student Property plc is a leading provider and operator of modern,
predominantly direct-let, premium student accommodation serving key UK
universities. Investing in both operating and development assets, Empiric is a
fully integrated operational student property business focused on premium
studio-led accommodation managed through its Hello Student® operating
platform, that is attractive to affluent growing student segments.

 

The Company, an internally managed real estate investment trust ("REIT")
incorporated in England and Wales, listed on the premium listing segment of
the Official List of the Financial Conduct Authority and was admitted to
trading on the main market for listed securities of the London Stock Exchange
in June 2014.

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