REG - Lendinvest PLC LendInvest - LIV2 LendInvest - LIV3 LendInvest PLC-LINV - Directorate Change

LendinvestAnnouncement

05/05/2023 12:00

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RNS Number : 6114Y  Lendinvest PLC  05 May 2023

LEI: 213800NWMK3O4UWP9N91

5 May 2023

LendInvest plc

Directorate Change

LendInvest plc (AIM: LINV; "LendInvest"), the UK's leading platform for
mortgages, announces that Michael Evans has resigned from his position as
Chief Financial Officer and will leave the business and his position as
executive director on 31 July 2023 (including as executive director of
LendInvest Secured Income plc and LendInvest Secured Income II plc).

Following a comprehensive selection process, assisted by external advisors,
David Broadbent has been selected as successor to Michael. David will join
LendInvest on 9 May 2023 and will work with Michael to transition
responsibilities, with the intention of succeeding Michael as Chief Financial
Officer and joining the Board as an Executive Director on 31 July 2023.

David has held multiple executive positions throughout his career in the
finance industry, including Chief Financial Officer and Chief Executive
Officer at Fairpoint Group Plc, Finance Director and Chief Commercial Officer
at International Personal Finance Plc and most recently Chief Financial
Officer at Bank North.

Michael Evans has exercised all of his share options which he is entitled to
exercise under the Company Share Option Plan. A separate PDMR dealing
notification will follow this announcement.

Rod Lockhart, Chief Executive Officer, commented: "I would like to sincerely
thank Michael for his vital contribution and dedication to LendInvest over the
past five years, a momentous period for the company that included our IPO in
2021 and transition to the public markets. We wish him the very best for the
future.

We are delighted to welcome David to the business as we progress into the next
stage of our growth journey and his deep experience in both the fintech and
specialist lending space will be invaluable to our development and continued
success as the UK's leading platform for mortgages. We are greatly looking
forward to working with him."

Michael Evans commented: "It has been a real privilege to play a part in the
development of LendInvest and to work alongside Rod and the executive team.
I'm very proud of all we have achieved and look forward to seeing how the
company continues to evolve and grow in the future."

David Broadbent commented: "LendInvest has an exciting future ahead in the UK
mortgage space, having already made great strides in disruption. I am thrilled
to be working with the Board, the senior management team and all colleagues at
LendInvest to support this continued development in the years to come"

 

Enquiries:

 Rod Lockhart, Chief Executive Officer                                                                                                 +44 (0)20 7353 4200

 Alex Dee, Head of Investor Relations

 Leigh Rimmer, Head of External Communications

 investorrelations@lendinvest.com
 Panmure Gordon (NOMAD and Joint Broker)                                                                                               +44 (0)20 7886 2500

 Atholl Tweedie / Stephen Jones / Tom Scrivens
 finnCap Limited (Joint                                                                                                                +44 (0)20 7220 0500
 Broker)

 Jonny Franklin-Adams / Tim Redfern
 Teneo (Financial PR)                                                                                                                  +44 (0)20 7353 4200

 Tom Murray / Ed Cropley / Olivia Lucas

Additional information

Summary of Michael Evans' remuneration arrangements on exit

Michael Evans will be treated in accordance with LendInvest's Directors'
Remuneration Policy and the terms of his service contract. To support the
succession and transition process, Michael will continue to receive his base
salary until he leaves LendInvest. He will be eligible to receive bonuses
which will be determined by the Remuneration Committee based on a combination
of business and individual performance during FY 2023. He will not be eligible
to receive any further LTIP awards.

About LendInvest

LendInvest is a leading platform for mortgages in the United Kingdom. Since
inception we have developed proprietary technology and digital solutions that
have allowed us to capture market share from incumbents and attract
significant third-party capital.

We use our technology to disrupt the £1.7 trillion* property finance market
which is dominated by manual paper processes and poor customer experience. Our
platform, unencumbered by legacy systems, offers attractive products and
pricing to borrowers and intermediaries through a seamless and
customer-focused process. In addition, it also provides us with a highly
scalable origination platform for future growth.

Experts in Real Estate investment, we have designed a variety of solutions and
products for our investors. These range from funds and separate accounts to
financial partnerships and RMBS. These products are tailored to address their
specific risk return and investment criteria. Through the platform, investors
from around the world gain exposure to attractive UK property finance assets
without requiring them to establish direct lending operations or borrower
services.

Our innovative business model is underpinned by our proprietary end-to-end
technology infrastructure, which facilitates operating leverage and delivers
better pricing for our customers. This drives efficiency and underpins our
business' roadmap for growth.

Source:

(*)FCA -The outstanding value of all residential mortgage loans was £1.7
trillion at the end of Q4 2022.

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