REG - Primary Health Props - Chairman Appointment

Primary Health PropertiesAnnouncement

02/11/2023 07:16

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RNS Number : 1043S  Primary Health Properties PLC  02 November 2023

2 November 2023

 

Primary Health Properties PLC

Chairman Appointment

 

Primary Health Properties PLC ("PHP" or the "Group"), one of the UK's leading
investors in modern primary healthcare facilities, is pleased to announce,
after consultation with a number of the Group's major shareholders, the
appointment of Harry Hyman, Founder and Chief Executive Officer ("CEO") of
PHP, as Non-executive Chairman subject to shareholder approval at, and with
effect from the conclusion of, its Annual General Meeting to be held on 24
April 2024 ("2024 AGM").

 

Harry will succeed Steven Owen who, as previously announced, will remain as
Chairman until the conclusion of the 2024 AGM. On 4 September 2023 it was
announced that Mark Davies will succeed Harry Hyman as CEO upon the conclusion
of the 2024 AGM.

 

The Board believes that Harry Hyman's appointment is in the best interests of
the Group and all of its stakeholders, particularly as Harry's knowledge and
expertise gained over nearly 30 years in the primary care property sector will
continue to be invaluable and highly relevant to the Group's future success.
The Board has determined that the term will be a maximum of three years.

 

The Board is starting a process to recruit a fourth independent, Non-executive
director.

 

 

Ian Krieger, Senior Independent Director, commented:

 

"On behalf of the Board I would like to express our thanks to Steven Owen, who
will be retiring from the Board at the 2024 AGM after six years as Chairman
having previously served for four years as a Non-executive director. Steven
has led the Board with great skill and his contribution to the success of PHP
has been immense.

"I am delighted that Harry has agreed to succeed Steven as Chairman and
together with our new CEO Mark Davies, Chief Financial Officer Richard Howell,
and Chief Investment Officer David Bateman, Primary Health Properties will
have in place a formidable leadership team that will continue to build on the
success of the business."

 

There are no other matters that require disclosure under 9.6.13R of the UK
Listing Rules.

 

Ends

 

Further details:

 

 Ian Krieger

 Senior Independent Director

 Tel: + 44 (0) 203 8241 841

 David Rydell / Stephanie Whitmore / Verity Parker

(Buchanan Communications)

 Tel: +44 (0) 20 7466 5000

 

 

 

Notes to Editors

Primary Health Properties (LSE and JSE: PHP) is a leading investor in modern
primary healthcare properties across the UK and Ireland. Since listing on the
London Stock Exchange ("LSE") in 1998, it has created progressive returns for
shareholders through a combination of rental growth and capital appreciation,
generating 27 years of consecutive dividend growth.

Its primary listing is on the Premium Segment of the LSE and is included on
the FTSE 250 Index. It has a secondary listing on the South African JSE
LIMITED ("JSE").

The Group owns and manages a £2.8 billion portfolio of healthcare assets that
generate strong, high quality rent roll of just under £150 million. Its
internal management team delivers sector leading financial management, with
the lowest peer cost ratios. In particular, PHP is positioned for growth in
the emerging Irish market following its 2023 acquisition of Axis Technical
Services, the Irish property management business.

PHP's long-term leases offer unique security with c.90% of rental income
directly or indirectly backed by the government, via the NHS in the UK or HSE
in Ireland. Growing and ageing patient populations are placing increasing and
significant pressure on the government's under-invested healthcare systems;
the provision of better front line primary care offers a proven solution. The
Board has a strong commitment to responsible growth and has set out a clear
plan to transition operational, development and asset management activities to
Net Zero Carbon by 2030.

Further information about PHP can be found here: https://www.phpgroup.co.uk/
(https://www.phpgroup.co.uk/)

Legal Entity Identifier: 213800Y5CJHXOATK7X11

 

 

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