REG - Watkin Jones plc - Board Change

Watkin JonesAnnouncement

19/07/2023 07:00

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RNS Number : 4347G  Watkin Jones plc  19 July 2023

 For immediate release  19 July 2023

 

 

Watkin Jones plc

('Watkin Jones' or the 'Group')

 

Board Change

 

Watkin Jones today announces that Richard Simpson has stepped down from his
role as Chief Executive Officer. The Board has asked Alex Pease, the Group's
Chief Investment Officer, to take on the role of Interim Chief Executive, with
effect from 19 July 2023, whilst a formal process is undertaken to confirm a
permanent CEO appointment. During this period, Alex, who has led the Watkin
Jones' investment activities since 2013 and joined the Board in 2022, will
head the Group executive team working closely with Sarah Sergeant, Chief
Financial Officer.

 

Alan Giddins, Chair of Watkin Jones, said: "On behalf of the Board, I would
like to thank Richard for his contribution to the Group over the last five
years and in particular his leadership of the business through the challenges
of the COVID pandemic.

 

"Alex has been a key member of the Group's executive leadership team for the
last 10 years and was most recently appointed to the Board as Group Chief
Investment Officer. In taking on the role of Interim CEO, Alex provides both
continuity, in what remains a very challenging backdrop for the sector, as
well as significant experience in the residential for rent market which the
Board believes will help enable the Group to regain momentum ahead of market
conditions improving."

 

- 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
 Alan Giddins - Chair                           Tel: +44 (0) 20 3617 4453

 Alex Pease - Interim Chief Executive Officer

 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 Hoare Govett (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 / Jamie Hooper  Tel: +44 (0) 20 7466 5000
 watkinjones@buchanan.uk.com           www.buchanan.uk.com

 

 

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 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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