REG - Watkin Jones plc - Appointment of CFO

Watkin JonesAnnouncement

23/04/2024 07:00

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RNS Number : 5870L  Watkin Jones plc  23 April 2024

     23 April 2024

 

Watkin Jones plc

('Watkin Jones' or the 'Group')

 

Appointment of Chief Financial Officer

 

Watkin Jones today announces that, as part of a managed succession process,
Sarah Sergeant, Chief Financial Officer, will step down from the Board in
mid-June 2024. The Board is pleased to announce that Simon Jones has been
appointed to succeed Sarah. Simon will join Watkin Jones as Chief Financial
Officer Designate and as a member of the Board on 21 May 2024 and will work
closely with Sarah to ensure a smooth hand over of responsibilities following
the publication of the Group's interim results for the six months ended 31
March 2024.

 

Simon is a highly experienced CFO with a strong track record within the
property sector, and with proven commercial and operational expertise. Most
recently Simon was CFO at the US majority owned Mapeley Group, the property
outsourcing specialist, where his main focus was performance improvement and
growth, and latterly its successful divestment. Prior to this he held a number
of senior finance roles within, amongst others, Bass PLC (now IHG Group PLC),
Hilton and Whitbread PLC. Simon qualified as a chartered accountant with KPMG.

 

Alan Giddins, Chair of Watkin Jones, said: "I am delighted to welcome Simon to
Watkin Jones. He is a very experienced CFO with significant property related
experience, which is highly relevant as Watkin Jones continues its recovery
and broadens its focus on opportunities within the residential for rent
sector.

 

"I would also like to thank Sarah, on behalf of the Board, for her
contribution to Watkin Jones and, in particular, in supporting the business
through the challenging market conditions that the Group has experienced over
the last 18 months."

 

Simon Jones, said: " I am very much looking forward to working with Alex and
the team at Watkin Jones.  The business has a very clear strategy within one
of the most attractive parts of the real estate and residential markets, and I
look forward to helping deliver on the Group's forward growth plans."

 

AIM disclosures required under the AIM Rules

Simon David Ainslie Jones is 54 years old. Simon and persons closely
associated with him currently hold 8,000 ordinary shares of 1p each in the
Company, representing approximately 0.003% of the Company's issued share
capital.

Current directorships and those held by Simon within the last five years are
as follows:

 Current directorships              Previous directorships
 Mapeley Estates Limited            Atlas Workplace Services Limited

 Mapeley Steps Contractor Limited   Cannon Capital Developments Limited

 Durham Student Living Limited      Mapeley Abi Provider Limited

 Osm House (Freehold) Limited       Mapeley Columbus II Limited

                                    Mapeley Columbus Properties Limited

                                    Mapeley Investment Group Limited

                                    Mapeley Steps Properties Limited

                                    Ogle Road Developments Limited

                                    Ogle Road Management Limited

                                    Salisbury Engineering and Compliance Limited

                                    Salisbury Esco Limited

                                    Salisbury Holdings Limited

                                    Salisbury Integrated Services Limited

                                    Salisbury Security Services Limited

 

The Mapeley Group,  whose holding company is a Guernsey-domiciled property
services business with some UK domiciled subsidiaries, has been going through
a structured value realisation process, which has involved the sale of both
corporate entities and underlying assets. In order to effect an orderly close
down of corporate entities, from which underlying assets have been sold and
liabilities settled, a number of companies within the group have gone through
Members Voluntary Liquidation ("MVL") processes. In 2022/2023, the following
companies, of which Simon was at the time a director, went through MVL
processes: Cannon Capital Developments Limited; Mapeley Abi Provider Limited;
Mapeley Columbus II Limited; Mapeley Columbus Properties Limited; Mapeley
Investment Group Limited; Mapeley Steps Properties Limited; Ogle Road
Developments Limited. In each case, these were solvent liquidations. The MVL
processes for Mapeley Estates Limited and Mapeley Steps Contractor Limited are
currently ongoing and are expected to be solvent liquidations.

There is no other information that is required to be disclosed pursuant to
Schedule 2 paragraph (g) of the AIM Rules.

 

- Ends -

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No 596/2014 as it forms part of UK Domestic
Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

 

For further information:

 Watkin Jones plc
 Alex Pease, Chief Executive Officer      Tel: +44 (0) 20 3617 4453
 Sarah Sergeant, Chief Financial Officer  www.watkinjonesplc.com (http://www.watkinjonesplc.com/)

 Peel Hunt LLP (Nominated Adviser & Joint Corporate Broker)                 Tel: +44 (0) 20 7418 8900
 Mike Bell / Ed Allsopp                                                     www.peelhunt.com (http://www.peelhunt.com/)

 Jefferies (Joint Corporate Broker)                                         Tel: +44 (0) 20 7029 8000
 James Umbers/David Sheehan / Paul Bundred                                  www.jefferies.com (http://www.jefferies.com/)

 

Media enquiries:

 Buchanan
 Henry Harrison-Topham / Steph Whitmore  Tel: +44 (0) 20 7466 5000
 watkinjones@buchanan.uk.com             www.buchanancomms.co.uk (//www.buchanancomms.co.uk)  .

 

 

Notes to Editors

 

Watkin Jones is the UK's leading developer and manager of residential for
rent, with a focus on the build to rent, student accommodation and affordable
housing sectors. The Group has strong relationships with institutional
investors, and a reputation for successful, on-time-delivery of high quality
developments.  Since 1999, Watkin Jones has delivered 48,000 student beds
across 143 sites, making it a key player and leader in the UK purpose-built
student accommodation market, and is increasingly expanding its operations
into the build to rent sector.  In addition, Fresh, the Group's specialist
accommodation management business, manages over 22,000 student beds and build
to rent apartments on behalf of its institutional clients.  Watkin Jones has
also been responsible for over 80 residential developments, ranging from
starter homes to executive housing and apartments.

 

The Group's competitive advantage lies in its experienced management team and
capital-light business model, which enables it to offer an end-to-end solution
for investors, delivered entirely in-house with minimal reliance on third
parties, across the entire life cycle of an asset.

 

Watkin Jones was admitted to trading on AIM in March 2016 with the ticker
WJG.L.  For additional information please visit www.watkinjonesplc.com
(http://www.watkinjonesplc.com/)

 

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