BOXE Tritax Eurobox Plc

TIDMEBOX TIDMBOXE

RNS Number : 2786W

Tritax EuroBox PLC

10 December 2019

10 December 2019

TRITAX EUROBOX PLC

(the "Company")

BOARD CHANGE: APPOINTMENT OF NEW NON-EXECUTIVE DIRECTOR

The Board of Tritax EuroBox plc (tickers: EBOX (Sterling), BOXE (Euro)), which invests in Continental European logistics real estate assets, is pleased to announce the appointment of Eva-Lotta Sjöstedt as a Non-Executive Director with effect from 10 December 2019. Eva-Lotta will also join the Management Engagement Committee of the Board.

Eva-Lotta is a global senior executive with an in-depth knowledge of global retail, supply chain and digital transformation strategy, having served as CEO of Georg Jensen, a luxury jewellery and home Scandinavian design brand, and CEO of Karstadt, a German premium luxury department store chain. Prior to this, Eva-Lotta held various senior roles at IKEA over a ten-year period, including Deputy Global Retail Manager where she was responsible for the development and implementation of Ikea's global omnichannel strategy, CEO of IKEA Holland and Deputy Retail Manager at IKEA Japan where she had responsibility for developing and growing the IKEA brand across Japan. Eva-Lotta is currently a Supervisory Board Member at METRO AG, a leading international wholesale and food service company.

Robert Orr, Chairman of Tritax EuroBox plc, commented:

"I am delighted to welcome Eva-Lotta to the Board as a Non-Executive Director. She brings with her invaluable experience and in-depth knowledge of global retail, supply chains and digital transformation strategy, which will further strengthen the Board. We look forward to working with her."

In accordance with the Listing Rules, there is no further information required to be disclosed pursuant to LR9.6.13R and LR9.6.11R.

For further information, please contact:

 
 Tritax Group 
  Hana Beard (Company Secretary)          +44 (0) 20 7290 1616 
 
 Jefferies International Limited 
  Gary Gould 
  Stuart Klein                            +44 (0) 20 7029 8000 
 Kempen & Co N.V. 
  Dick Boer 
  Thomas ten Hoedt                        +31 (0) 20 348 8500 
 Akur Limited 
  Anthony Richardson 
  Tom Frost 
  Siobhan Sergeant                        +44 (0)20 7493 3631 
 
 Maitland.AMO (Communications Adviser)    +44 (0) 20 7379 5151 
  James Benjamin                           tritax-maitland@maitland.co.uk 
 

The Company's LEI is: 213800HK59N7H979QU33

NOTES:

Tritax EuroBox plc invests and manages a well-diversified portfolio of well-located Continental European logistics real estate assets that are expected to deliver an attractive capital return and secure income to shareholders. These assets fulfil key roles in the logistics and distribution supply-chain focused on the most established logistics markets and on the major population centres across core Continental European countries.

Occupier demand for Continental European logistics assets is in the midst of a major long-term structural change principally driven by the growth of e-commerce. This is evidenced by technological advancements, increased automation and supply-chain optimisation, set against a backdrop of resurgent economic growth across much of Continental Europe.

The Company's Manager, Tritax Management LLP, has assembled a full-service European logistics asset management capability including specialist "on the ground" asset and property managers with strong market standings in the Continental European logistics sector. The appointed asset managers Logistics Capital Partners and Dietz AG are logistics specialists and offer the Company exposure to high quality asset management expertise and access to their respective development pipelines, providing acquisition opportunities across Continental Europe.

The Company is targeting, on a fully invested and geared basis, an initial Ordinary Share dividend yield of 4.75% p.a.(1) , which is expected to increase progressively through regular indexation events inherent in underlying lease agreements, and a total return on the Ordinary Shares of 9.0% p.a.(1) over the medium-term. The Company intends to pay dividends on a quarterly basis with shareholders able to receive dividends in Sterling or Euro.

Further information on Tritax EuroBox plc is available at www.tritaxeurobox.co.uk

(1) Euro denominated returns, by reference to IPO issue price. These are targets only and not profit forecasts. There can be no assurances that these targets will be met and they should not be taken as indications of the Company's expected or actual future results. Accordingly, potential investors should not place any reliance on the target in deciding whether or not to invest in the Company and should not assume that the Company will make any distributions at all and should decide themselves whether or not the target is reasonable or achievable.

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END

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December 10, 2019 02:01 ET (07:01 GMT)

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