Picton Property Inc. - Picton appoints Francis Salway as Chair

Picton Property Income

27/01/2025 07:00

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RNS Number : 6759U  Picton Property Income Limited  27 January 2025

 
27 January 2025

PICTON PROPERTY INCOME LIMITED

('Picton' or the 'Company')

LEI: 213800RYE59K9CKR4497

Directorate Change

Picton appoints Francis Salway as Chair

 

Picton today announces the appointment of Francis Salway as its new Chair.

Francis will join the Board in a non-executive capacity as Chair and Chair of
the Nomination Committee on 1 February 2025, succeeding Lena Wilson, who will
step down from the Board on 31 January 2025, as announced on 4 October 2024.

Francis brings a wealth of property expertise and experience to the Board. He
was Chief Executive of Land Securities plc, then the country's largest listed
commercial property company, between 2004 and 2012, having joined the board in
2001, and prior to that was Investment Director at Standard Life Investments.

He is currently a non-executive director of Watkin Jones plc, the UK's leading
residential-for-rent developer, and a non-executive director of Cadogan Group
Limited, which owns and manages the Cadogan Estate in Chelsea.

Francis was a non-executive director of Next plc from 2010 to 2021, latterly
as Senior Independent Director. From 2012, he was Chair of Town & Country
Housing, a housing association, and, following its amalgamation with Peabody
in 2019, also a non-executive director of Peabody both until 2021.

Francis Salway said, "I am delighted to be joining Picton as Chair. The
Company has an impressive long term property performance track record and I
look forward to working with the Board and management team to build on this
success".

 

Lena Wilson said, "I am proud to have been part of Picton's story over the
last four years and, as a colleague and a shareholder, wish the Company every
success for the future. I would like to congratulate Francis on his
appointment; he is joining a dedicated and highly effective team and I am
confident his experience and leadership will contribute greatly to this next
chapter".

 

Michael Morris, Chief Executive, said: "On behalf of the Board, I would like
to give our sincere thanks to Lena for her leadership, guidance and valued
contribution. We are pleased to welcome Francis to the Picton team and look
forward to working together as we seek to create value for shareholders. His
extensive experience in the property sector and strategic vision will be
invaluable as we seek to take advantage of opportunities arising from current
market conditions".

 

This announcement is pursuant to UKLR 6.4.6R of the Financial Conduct
Authority's UK Listing Rules. There are no other details which are required to
be disclosed under UKLR 6.4.8R.

 

This announcement contains inside information.

 

 

For further information:

 

Picton

Kathy Thompson, Company Secretary

020 7011 9988, kathy.thompson@picton.co.uk
(mailto:kathy.thompson@picton.co.uk)

 

Tavistock

James Verstringhe

020 7920 3150, james.verstringhe@tavistock.co.uk
(mailto:james.verstringhe@tavistock.co.uk)

 

 

 

About Picton

 

Established in 2005, Picton is listed on the main market of the London Stock
Exchange and is a constituent of a number of EPRA indices including the FTSE
EPRA Nareit Global Index.

 

Picton owns and actively manages a £721 million UK commercial property
portfolio, invested across 48 assets and with around 350 occupiers (as at 30
September 2024).

 

Through an occupier focused, opportunity led approach, Picton aims to be one
of the consistently best performing diversified UK REITs and has delivered
upper quartile outperformance and a consistently higher income return than the
MSCI Quarterly Property Index since launch.

 

With a portfolio strategically positioned to capture income and capital
growth, currently weighted towards the industrial sector, Picton's agile
business model provides flexibility to adapt to evolving market trends over
the long-term.

 

Picton has a responsible approach to business and is committed to being net
zero carbon by 2040.

 

For more information please visit: www.picton.co.uk (http://www.picton.co.uk)

 

ENDS

 

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