REG - Empiric Student Prop - NON-EXECUTIVE DIRECTOR CHANGES

Empiric Student PropertyAnnouncement

27/09/2021 07:00

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RNS Number : 9821M  Empiric Student Property PLC  27 September 2021

27 September
2021

Empiric Student Property plc

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

NON-EXECUTIVE DIRECTOR CHANGES

Empiric Student Property plc (ticker: ESP), the owner and operator of premium
student accommodation across the UK, announces that Martin Ratchford has been
appointed to the Board as an Independent Non-Executive Director and Chair of
the Audit Committee effective on 1 October 2021, following the conclusion of a
comprehensive recruitment process supported by external consultants. After
over seven years of service to the Company, Jim Prower will resign as a
Director of the Company on the same day as part of a planned succession
process.

 

Martin is a senior finance professional with more than two decades' experience
in UK and international real estate gained across the listed, fund and private
sectors and across most property asset classes, including student
accommodation. Since June 2018, he has held the post of Chief Finance Officer
at Frasers Property UK Limited, part of Frasers Property ("Frasers Property").
Frasers Property, listed on the main board of the Singapore Exchange
Securities Trading Limited (SGX), is a multi-national company that develops,
owns and manages a diverse portfolio of c.£21 billion of real estate across
multiple asset classes.

 

Martin previously held senior finance and leadership roles at The Unite Group
PLC, The British Land Company plc and latterly as Finance Director of Real
Estate & Funds at Thomas Cook Group plc.

 

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

 

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

"On behalf of the Board, I would like to thank Jim for the important
contribution he has made to Empiric over the past seven years since our IPO in
2014. During this time, Jim has provided valuable insights and supported the
financial and operational transformation of the Group. The Board remains
grateful for his expertise, commitment and wise counsel, and Jim leaves with
our very best wishes for the future.

 

We are pleased to welcome Martin to the Board. He brings a wealth of
invaluable real estate and finance experience in the UK and internationally,
and we very much look forward to working closely with him as we continue to
drive value enhancing changes in our business and delivering long term
shareholder value, which remains top of our agenda."

 

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 & Operating Officer)

 Jefferies International Limited                         020 7029 8000
 Stuart Klein
 Tom Yeadon

 RBC Europe Limited (trading as RBC Capital Markets)     020 7653 4000
 Charlie Foster

 Marcus Jackson

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

 

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 located in high-demand
university towns and cities across the UK. 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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