Derwent London PLC Directorate Change (0797P)
14 Octubre 2021 - 03:00AM
UK Regulatory
TIDMDLN
RNS Number : 0797P
Derwent London PLC
14 October 2021
DERWENT LONDON PLC
("Derwent"/"the Group")
DIRECTORATE CHANGE
Derwent London plc announces that, after 19 years of service
including 13 years as a Board Director, David Silverman will be
leaving the Group. The current expectation is that David will step
down as a Director during the first half of 2022.
During David's tenure at Derwent London, he has been integral to
the Group's investment acquisitions and disposals. David led on the
three recently announced off-market West End transactions. He was
also an important member of the team that secured the merger with
LMS in 2007 and the successful disposals that followed.
David's current responsibilities will be allocated amongst the
other Executive Directors and therefore it is not the Board's
current intention to appoint a replacement.
Paul Williams, Chief Executive said:
"On behalf of my fellow directors, I wish to thank David for his
considerable contribution to the success of Derwent London over the
last 19 years. During that time he has played an important role in
the growth of the Group and the acquisition of exciting properties
which will support the business for many years to come. The whole
Group wishes him well for the future."
David Silverman, Executive Director said:
"It has been a privilege to have worked at Derwent over the
years. It is one of London's most innovative and creative property
investors and that is down to an outstanding team. I wish Paul and
all at Derwent every success for the future".
Information equivalent to that required under section 430(2B) of
the UK Companies Act 2006 will be made available on the Company's
website at the time David Silverman steps down from the Board.
D A Lawler
Company Secretary
Enquiries:
Company Secretary
020 7659 3000
www.derwentlondon.com
14 October 2021
Notes to editors
Derwent London plc
Derwent London plc owns 81 buildings in a commercial real estate
portfolio predominantly in central London valued at GBP5.4 billion
as at 30 June 2021, making it the largest London-focused real
estate investment trust (REIT).
Our experienced team has a long track record of creating value
throughout the property cycle by regenerating our buildings via
development or refurbishment, effective asset management and
capital recycling.
We typically acquire central London properties off-market with
low capital values and modest rents in improving locations, most of
which are either in the West End or the Tech Belt. We capitalise on
the unique qualities of each of our properties - taking a fresh
approach to the regeneration of every building with a focus on
anticipating tenant requirements and an emphasis on design.
Reflecting and supporting our long-term success, the business
has a strong balance sheet with modest leverage, a robust income
stream and flexible financing.
As part of our commitment to lead the industry in mitigating
climate change, Derwent London has committed to becoming a net zero
carbon business by 2030, publishing its pathway to achieving this
goal in July 2020. In 2019 the Group became the first UK REIT to
sign a Revolving Credit Facility with a 'green' tranche. At the
same time, we also launched our Green Finance Framework and signed
the Better Buildings Partnership's climate change commitment. The
Group is a member of the 'RE100' which recognises Derwent London as
an influential company, committed to 100% renewable power by
purchasing renewable energy, a key step in becoming a net zero
carbon business. Derwent London is one of only a few property
companies worldwide to have science-based carbon targets validated
by the Science Based Targets initiative (SBTi).
Landmark schemes in our 5.4 million sq ft portfolio include 80
Charlotte Street W1, Brunel Building W2, White Collar Factory EC1,
Angel Building EC1, 1-2 Stephen Street W1, Horseferry House SW1 and
Tea Building E1.
In January 2021, Derwent London came top of the Property Sector
and 10th position overall in Management Today's Britain's Most
Admired Companies awards 2020. In the year the Group has won
several awards for Brunel Building with the most prominent being
the BCO Best Commercial Workplace award. In 2019 the Group won EG
Offices Company of the Year, the CoStar West End Deal of the Year
for Brunel Building and Westminster Business Council's Best
Achievement in Sustainability award. In 2013 the Company launched a
voluntary Community Fund and has to date supported well over 100
community projects in the West End and the Tech Belt.
The Company is a public limited company, which is listed on the
London Stock Exchange and incorporated and domiciled in the UK. The
address of its registered office is 25 Savile Row, London, W1S
2ER.
For further information see www.derwentlondon.com or follow us
on Twitter at @derwentlondon
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