TIDMESP
RNS Number : 8558U
Empiric Student Property PLC
04 August 2022
4 August 2022
Empiric Student Property plc
("Empiric" or the "Company" or, together with its subsidiaries,
the "Group")
APPOINTMENT OF NEW CHIEF FINANCIAL AND SUSTAINABILITY
OFFICER
Empiric Student Property plc (ticker: ESP), the owner and
operator of premium student accommodation serving key UK
universities, is pleased to announce the appointment of Donald
Grant as Chief Financial & Sustainability Officer Designate and
Executive Director of the Company.
Donald is an experienced CFO having held board and executive
level responsibilities across a breadth of senior finance roles,
with a proven track record of over 20 years of working for FTSE 350
real estate companies, as well as major financial services
firms.
Most recently he was CFO at RDI REIT plc (2015-2022), an income
focused UK REIT, leading on all finance matters, including
establishing and driving RDI's sustainability agenda, through to
its eventual take private and delisting. Prior to this, Donald was
Head of Finance at Liberty International plc, a FTSE 100 UK REIT,
from 2008. Two years later, when the business was de-merged, he
moved with Capital & Counties Properties plc (Capco) as its
Group Financial Controller. Donald set up and managed the new FTSE
250 financial control and business planning function and advised
the CFO, Executive and Board on financial matters. Previously, he
was Head of Financial & Regulatory Control for Europe and Asia
at Cantor Fitzgerald LP and BGC Partners, a US based inter-dealer
broker (2006-2008). Early in his career, Donald spent eight years
in senior finance roles most notably with ABN Amro Bank and Credit
Suisse First Boston. Donald is a Chartered Accountant (NZ), having
trained at Coopers & Lybrand.
Donald's appointment as Executive Director will be effective
from 12 September 2022 and, following a handover period to ensure
an orderly transition, Donald will replace Lynne Fennah, who, as
announced on 23 May 2022, has decided to step down from her role to
pursue other interests.
Duncan Garrood, CEO of Empiric Student Property plc,
commented:
"On behalf of the Company, I am delighted to announce that we
have appointed Donald as our new Chief Financial &
Sustainability Officer . He is a strong, commercial and strategic
CFO with a well-established successful track record in senior
finance roles at FTSE 350 UK real estate companies, a combination
that will be invaluable. We very much look forward to working
closely with Donald as we continue to deliver benefits from the
improvements we continue to make to our business and portfolio,
further strengthening the performance and potential of Empiric.
I would also like to take this opportunity to thank Lynne for
her invaluable contribution and commitment to the business over the
last five years. We are all immensely grateful for Lynne's great
work, which has been integral to the transformation of Empiric. I
wish her all the best for the future."
Donald Grant said:
"I am delighted to be joining Empiric and I look forward to
working with Duncan, the Board and all the team at Empiric, a
business which has made impressive progress over the past five
years and has so much potential for the future. I am looking
forward to getting started and helping to support the business
execute its strategy and deliver attractive sustainable returns to
its shareholders."
Disclosures pursuant to Listing Rule 9.6.13 in respect of Donald
Grant:
LR 9.6.13 (i): Previous directorships:
Donald was previously a Director of RDI REIT PLC which delisted
from the London Stock Exchange in May 2021. Donald is no longer a
Director of RDI REIT PLC.
LR 9.6.13 (iii): Creditors voluntary liquidations:
As part of his role at RDI REIT PLC, Donald was a Director of,
inter alia, four single asset special purpose vehicles being Byron
Place Seaham Limited, Seaham Limited, Grand Arcade Wigan Limited
and Standishgate Wigan Limited. These SPVs held RDI REIT PLC's
interests in four regional shopping centers. Following a period of
declining valuations in the sector, a consensual agreement was
reached with the lender to appoint a fixed charge receiver to
market and sell the properties. Once that was completed Byron Place
Seaham Limited & Seaham Limited entered into a creditors
voluntary liquidation on 30th September 2020 and Grand Arcade Wigan
Limited and Standishgate Wigan Limited entered into a creditors
voluntary liquidation on 25th January 2021.
There are no other details to disclose under Listing Rule 9.6.13
in respect of Donald Grant's appointment.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Empiric Student Property plc (via Maitland/amo below)
Duncan Garrood (Chief Executive Officer)
Lynne Fennah (Chief Financial & Sustainability
Officer)
Jefferies International Limited 020 7029 8000
Tom Yeadon
Andrew Morris
Peel Hunt LLP
Capel Irwin
Carl Gough 020 7418 8900
07747 113 930 / 020 7379
Maitland/amo (Communications Adviser) 5151
James Benjamin empiric-maitland@maitland.co.uk
Alistair de Kare-Silver
The Company's LEI is 213800FPF38IBPRFPU87.
Further information on Empiric can be found on the Company's
website at www.empiric.co.uk .
Notes:
Empiric Student Property plc is a leading provider and operator
of modern, predominantly direct-let, premium student accommodation
serving key UK universities. Investing in both operating and
development assets, Empiric is a fully integrated operational
student property business focused on premium studio-led
accommodation managed through its Hello Student(R) operating
platform, that is attractive to affluent growing student
segments.
The Company, an internally managed real estate investment trust
("REIT") incorporated in England and Wales, listed on the premium
listing segment of the Official List of the Financial Conduct
Authority and was admitted to trading on the main market for listed
securities of the London Stock Exchange in June 2014.
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END
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