REG - NewRiver REIT plc - Appointment of Independent NED and Chair Designate

Newriver ReitAnnouncement

21/03/2024 15:15

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RNS Number : 8440H  NewRiver REIT PLC  21 March 2024

NewRiver REIT plc

("NewRiver" or the "Company" or the "Group")

 

Appointment of Independent Non-Executive Director and Chair Designate

 

NewRiver is pleased to announce the appointment of Lynn Fordham as Independent
Non-Executive Director, Chair Designate and a member of the Nomination
Committee with effect from 21 March 2024. Lynn will succeed Baroness Ford OBE
as Non-Executive Chair of the Board and the Nomination Committee when Baroness
Ford steps down from the Board on 30 May 2024.

 

As previously announced, Baroness Ford advised the Board that, subject to
completion of a search to appoint her successor and a handover period, she
would not seek re-election at this year's AGM. The Nomination Committee
initiated a search for a new Non-Executive Chair under the leadership of
Alastair Miller, Senior Independent Director.

 

Lynn Fordham is a highly experienced Non-Executive Director with wide-ranging
experience across a range of industries and has extensive board level
experience gained as an Executive Director and Non-Executive Director of
listed companies.

 

Lynn is currently Non-Executive Director and Audit Committee Chair of NCC
Group plc, Caledonia Investments plc, Domino's Pizza Group plc and
Non-Executive Director of Enfinium Group Ltd. Lynn was previously
Non-Executive Director of VARO Energy and Fuller, Smith & Turner.

 

Lynn's most recent executive career was as Managing Partner of Larchpoint
Capital LLP, a team of private equity professionals investing family capital.
Prior to that Lynn was Chief Executive Officer and Executive Director of SVG
Capital plc, the former FTSE 250 listed private equity investment vehicle.
Lynn has also held senior finance roles at Barratt Developments Plc, BAA Plc
and Boots Plc.

 

In her early career, Lynn trained as a Chartered Accountant with Peat Marwick
and held various Audit, Risk, Strategy and Finance roles with British American
Tobacco, ED& F Man Group, Chubb, Boots and BAA.

 

Alastair Miller, Senior Independent Director commented: "Following the
completion of a thorough process supported by an international executive
search consultancy, we are very pleased to have secured a Chair of Lynn's
calibre. Lynn is a seasoned Plc director with significant capital markets and
finance experience. I'm confident that Lynn will bring strong strategic
leadership and on behalf of the Board I am delighted to welcome Lynn to
NewRiver.

 

I would also like to thank Baroness Ford for her leadership of the Board over
the last 6 years. She has made a major contribution to the strategic
development of NewRiver and we extend our very best wishes to Margaret for the
future."

 

Lynn Fordham, Chair Designate commented: "I am delighted to be joining the
Board of NewRiver at this stage in its development and look forward to working
with the Board and Allan Lockhart, CEO.

 

I was attracted to the role of Chair because of the quality of NewRiver's
portfolio and operating platform, the strength of its balance sheet and the
prospect of increasing shareholder value over the coming years."

 

Baroness Ford OBE, Outgoing Chair commented: "It has been a privilege for me
to serve as Chair of the NewRiver Board and I am particularly proud of the
successful execution of the strategic plan.

 

I congratulate Lynn on her appointment as my successor. I am confident that
under her leadership of the Board and with Allan Lockhart as CEO, NewRiver
will continue to prosper and deliver value for shareholders."

 

Lynn does not currently hold any shares in the Company. With respect to
paragraph 9.6.13 of the Financial Conduct Authority's Listing Rules, the below
details all directorships held by the director in any other publicly quoted
company at any time in the previous five years:

 

Current Listed Directorships:

 

NCC Group plc

Caledonia Investments plc

Domino's Pizza Group Plc

 

Lynn Fordham was a director of Sole Realisation Company plc, formerly known as
SVG Capital plc ("Sole Realisation") until 28 June 2017 when Sole Realisation
was put into a solvent members voluntary liquidation. No further information
is required to be disclosed pursuant to Listing Rule 9.6.13 R in respect of
the appointment listed above.

 

This announcement includes the information required by Listing Rules 9.6.11 to
9.6.13, and there is no further information to report under Listing Rule
9.6.13.

 

For further information

 

 NewRiver REIT plc                           +44 (0)20 3328 5800
 Allan Lockhart (Chief Executive)

 Will Hobman (Chief Financial Officer)

 

 FGS Global           +44 (0)20 7251 3801
 Gordon Simpson

 James Thompson

 

 

About NewRiver

 

NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust
specialising in buying, managing and developing resilient retail assets
throughout the UK.

 

Our £0.6 billion UK wide portfolio covers 6.4 million sq ft and comprises
25 community shopping centres and 12 conveniently located retail parks
occupied by tenants predominately focused on essential goods and services. In
addition we manage 18 retail parks and 5 shopping centres on behalf of Capital
Partners, taking our total Assets Under Management to £1.3 billion. Our
objective is to own and manage the most resilient retail portfolio in the UK,
focused on retail parks, core shopping centres, and regeneration opportunities
in order to deliver long-term attractive recurring income returns and capital
growth for our shareholders.

 

NewRiver has a Premium Listing on the Main Market of the London Stock Exchange
(ticker: NRR). Visit www.nrr.co.uk for further information.

 

LEI Number: 2138004GX1VAUMH66L31

 

 

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