NewRiver REIT PLC Directorate Change (6785G)
28 Julio 2021 - 1:00AM
UK Regulatory
TIDMNRR
RNS Number : 6785G
NewRiver REIT PLC
28 July 2021
NewRiver REIT plc
("NewRiver" or the "Company")
Directorate Change
Following our announcement on 26 July that NewRiver had entered
into an agreement for the sale of the entire issued share capital
of Hawthorn Leisure REIT Limited ("Hawthorn"), NewRiver's community
pub business, and as envisaged in the announcement of 14 April
2021, Mark Davies will now relinquish his position as the Company's
Chief Financial Officer (CFO) and stand down from the Board with
immediate effect.
Mark will remain in his position as Chief Executive Officer of
Hawthorn.
Allan Lockhart, Chief Executive Officer, commented : "Mark has
made an enormous contribution in helping to grow NewRiver to what
it is today, having been with us every step of the way since we
first floated on AIM in 2009 with seed capital of just GBP25
million.
"He has played a pivotal role in helping to shape our strategy
and giving NewRiver the financial foundations to successfully
pursue it. Mark was instrumental in enabling NewRiver to complete
the transition to a fully unsecured balance sheet in 2018, meaning
all of our assets are unencumbered.
"Mark has also been a driving force and visionary behind
NewRiver's pub strategy which began with us acquiring our first
portfolio of 202 pubs from Marston's in 2013, buying Hawthorn five
years later and culminating in an agreed sale of our community pub
business for GBP222.3 million this month. On behalf of everyone at
NewRiver, we wish Mark the very best for the future and sincerely
thank him for everything he has done for the business."
Mark Davies commented : "I have enjoyed the last 12 years at
NewRiver where we took an IPO start-up Company to a premium listing
on the London Stock Exchange. It has been rewarding and challenging
to create a retail REIT with GBP1 billion of assets and Hawthorn as
a market leading pub company, with entrepreneurial spirit, a
people-first culture and a focus on community.
"I am very proud of my team and thanks to everyone I have worked
with. My time at NewRiver has been unique and rewarding, building
two great businesses and leading so many talented people whose
commitment, hard work, friendship and loyalty is something for
which I will always be grateful. I wish NewRiver every success for
the future."
For further information
NewRiver REIT plc +44 (0)20 3328 5800
Allan Lockhart (Chief Executive)
Emily Meara (Head of Investor
Relations)
Finsbury
Gordon Simpson +44 (0)20 7251
James Thompson 3801
About NewRiver
NewRiver REIT plc ('NewRiver') is a leading Real Estate
Investment Trust specialising in buying, managing and developing
essential retail and leisure assets throughout the UK.
Our GBP1.0 billion portfolio covers 9 million sq ft and
comprises 33 community shopping centres, 19 conveniently located
retail parks and 674 community pubs. We hand-picked our assets to
deliberately focus on occupiers providing essential goods and
services, and avoid structurally challenged sub-sectors such as
department stores, mid-market fashion and casual dining. This
focus, combined with our affordable rents and desirable locations,
delivers sustainable and growing returns for our shareholders,
while our active approach to asset management and inbuilt 2.6
million sq ft development pipeline provide further opportunities to
extract value from our portfolio.
NewRiver has a Premium Listing on the Main Market of the London
Stock Exchange (ticker: NRR). Visit www.nrr.co.uk for further
information.
LEI Number: 2138004GX1VAUMH66L31
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END
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