11 October
2024
Regional REIT
Limited
("Regional REIT" or the "Company")
Directorate
Changes
Director Retirement
The Board of Regional REIT announces
that Daniel Taylor, Senior Independent Director, will step down as
a Non-Executive Director ("NED") of the Company on 15 October 2024, having completed
the duration of his nine-year tenure and in accordance with the
Company`s NED tenure policy. Daniel joined the Board in October
2015 and his insight and dedication have been of significant value
during his time with the Company.
As previously announced, a
Bridgemere Investment Limited representative NED is expected to be
appointed in due course and the Nomination Committee has also
commenced the process to identify a new non-executive Chair to
replace Kevin McGrath, who will shortly have served his nine-year
tenure. Further announcements will be made by the Company as soon
as these appointments and their effective dates have been
decided.
Appointment of Senior Independent Director
The Company further announces that
Massy Larizadeh will be appointed as Senior Independent Director
with effect from 15 October 2024, to replace Daniel Taylor. Massy
has been an independent NED of the Company since June
2022. She is the Chair of the Management Engagement and
Remuneration Committee and Nomination Committee and a member of the
Audit Committee.
Kevin McGrath,
Chairman of Regional REIT, commented: "The Board thanks Daniel for his
valuable input and commitment to the Company over his nine-year
tenure and wish him well for the future."
This notification is made in accordance with
UKLR 6.4.6R.
- Ends -
Enquiries:
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Regional REIT Limited
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Press enquiries through
Buchanan
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ESR
Europe Private Markets Limited
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Tel: +44 (0) 203 831 9776
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Investment Adviser to the
Group
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Adam Dickinson, Investor Relations,
Regional REIT Limited
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London & Scottish Property Investment
Management
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Tel: +44 (0) 141 248 4155
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Asset Manager to the Group
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Stephen Inglis
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Buchanan Communications
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Tel: +44 (0) 20 7466 5000
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Financial PR
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Charles Ryland, Henry Wilson, George
Beale
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About Regional REIT
Regional REIT Limited ("Regional
REIT" or the "Company") and its subsidiaries (the "Group") is
a United Kingdom ("UK") based real estate investment
trust that launched in November 2015. It is managed
by London & Scottish Property Investment Management
Limited, the Asset Manager, and ESR Europe Private Markets Limited,
the Investment Adviser.
Regional REIT's commercial property
portfolio is comprised wholly of income
producing UK assets and comprises, predominantly of
offices located in the regional centres outside of the M25
motorway. The portfolio is geographically diversified, with 132
properties, 832 tenants as at 30 June 2024, with a valuation of
c.£647.9m.
Regional REIT pursues its investment
objective by investing in, actively managing and disposing of
regional core and core plus property assets. It aims to deliver an
attractive total return to its Shareholders, targeting greater than
10% per annum, with a strong focus on income supported by
additional capital growth prospects.
The Company's shares were admitted
to the Official List of the UK's Financial Conduct
Authority and to trading on the London Stock Exchange on 6 November
2015. For more information, please visit the Group's website
at www.regionalreit.com.
Legal Entity Identifier ("LEI"):
549300D8G4NKLRIKBX73