REG - Town Centre Secs. - Directorate Change

Town Centre SecuritiesAnnouncement

16/02/2021 07:00

RNS Number : 1795P
  
Town Centre Securities PLC
  
16 February 2021
  
 

16 February 2021
Town Centre Securities PLC
('The Company' or 'TCS')
 
Directorate Change
 
Town Centre Securities PLC (TCS) today announces that Mark Dilley, Group Finance Director, is to leave the business and will stand down from the Board and his role on 28 February 2021 and begin an agreed period of garden leave. 
 
In his time at TCS, Mark has focused on supporting the business in its transformation strategy, accelerated in the past year. Mark has been instrumental in the refinancing of the business, most notably with the agreement of the innovative financing of Merrion House, Leeds, and our Burlington House private rental joint venture development in Manchester. Furthermore, Mark has focused on improving the breadth and quality of our shareholder communications and investor relations activity. 
 
The recent strategy to reset and reinvigorate the business, including the completion of the sale of a significant number of retail assets, combined with the impact of COVID-19, has increased the focus on reducing costs.
 
The Company has therefore initiated a search for a new Group Finance Director for the next stage of TCS's strategy.
 
The Company's half year results for the six months ending 31 December 2020 will be released on Wednesday 24 February 2021.
 
Edward Ziff, Chairman and Chief Executive commented: "I would like to thank Mark for his contribution and support during his time with the Company. Mark has been invaluable during a period of significant change for TCS, both in his careful management of our financial position, and his valuable insight into our future direction. I am particularly grateful for his support and hard work during the extremely challenging past twelve months".
 
Mark Dilley commented: "I would like to thank Edward and the rest of the Board for their support and trust during my time with the Company. This is absolutely the right time for TCS to revisit its Board makeup and for me to consider the next stage in my career following the excellent and invaluable experience I have benefited from during my time at TCS."
 
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For further information, please contact:
 
Town Centre Securities PLC                                                                        www.tcs-plc.co.uk / @TCS PLC
Edward Ziff, Chairman and Chief Executive                                                                          0113 222 1234
 
MHP Communications                                                                                                             020 3128 8572
Reg Hoare / Alistair de Kare-Silver / Florence Mayo                                                          tcs@mhpc.com
 
 

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