REG - Regional REIT Ltd - Appointment of Independent NED & Chair Designate

Regional REITAnnouncement

18/12/2024 07:00

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RNS Number : 4416Q  Regional REIT Limited  18 December 2024

18 December 2024

REGIONAL REIT Limited

("Regional REIT", the "Group" or the "Company")

 

Appointment of Independent Non-Executive Director and Chair Designate

 

The Board of Regional REIT is pleased to announce that David Hunter will be
appointed as an Independent Non-Executive Director and Chair designate,
becoming a member of the Audit, Nominations, and Management Engagement &
Remuneration Committees, with effect from 2 January 2025.

 

Following a handover period, David will succeed Kevin McGrath as Chair of the
Board, on 18 March 2025. This follows Kevin's announcement in October 2024
that he will step down as Chair having completed the duration of his nine-year
tenure, in accordance with the Company's policy.

 

David is a highly experienced Non-Executive Director and Chair of listed REITs
as well as a strategic adviser to real estate private equity businesses. He
has a background in property fund management, latterly as Managing Director of
Aberdeen Asset Management's £6.5bn real estate business, but since 2005 he
has taken a wide range of non-executive positions in UK and international
businesses. David was previously Chairman of Capital & Regional plc, Dar
Global PLC, Custodian Property Income plc and GCP Student Living plc among
other roles.

 

There are no other details or disclosures to be made which are required under
Listing Rule 6.4.8R.

 

Massy Larizadeh, Senior Independent Director of Regional REIT
said: "Following a thorough independent selection process, the Board is
delighted that David is joining the Board of Regional REIT. David's impressive
career in fund management and extensive listed commercial real estate
experience will be of great benefit to the Company at this important stage of
its life and in the future.

 

On behalf of the Board, I would like to thank Kevin for his leadership and
significant contribution to Regional REIT."

 

David Hunter commented: "I'm delighted to be selected by Regional REIT as the
Independent Non-Executive Chair. Regional REIT is at a key inflection point
having recently completed a successful significant capital raise. This has
placed the Company on a much firmer financial footing and we can now focus on
enhancing shareholder value through further active portfolio management
activities, maximising occupancy and capitalising on the developing trend of
workers returning to the office."

 

- ENDS -

 

Enquiries:

 

 Regional REIT Limited
 Press enquiries through Burson Buchanan

 ESR Europe Private Markets Limited                         Tel: +44 (0) 203 831 9776
 Investment Adviser to the Group
 Adam Dickinson, Investor Relations, Regional REIT Limited

 ESR Europe LSPIM Limited                                   Tel: +44 (0) 141 248 4155
 Asset Manager to the Group
 Stephen Inglis

 Burson Buchanan                                            Tel: +44 (0) 20 7466 5000
 Financial Communications
 Charles Ryland, Henry Wilson, Sam Adams

 

About Regional REIT

Regional REIT Limited ("Regional REIT" or the "Company") and its
subsidiaries (the "Group") is a United Kingdom ("UK") based real estate
investment trust that launched in November 2015. It is managed by ESR Europe
LSPIM Limited, the Asset Manager, and ESR Europe Private Markets Limited, the
Investment Adviser.

 

Regional REIT's commercial property portfolio is comprised wholly of income
producing UK assets and comprises, predominantly of offices located in the
regional centres outside of the M25 motorway. The portfolio is geographically
diversified, with 131 properties, 1,303 units and 808 tenants as at 30
September 2024, with a valuation of c.£648.8m.

 

Regional REIT pursues its investment objective by investing in, actively
managing and disposing of regional Core and Core Plus Property assets. It aims
to deliver an attractive total return to its Shareholders, targeting greater
than 10% per annum, with a strong focus on income supported by additional
capital growth prospects.

 

The Company's shares were admitted to the Official List of
the UK's Financial Conduct Authority and to trading on the London Stock
Exchange on 6 November 2015. For more information, please visit the Group's
website at www.regionalreit.com (http://www.regionalreit.com/) .

 

LEI: 549300D8G4NKLRIKBX73

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