TIDMDLN
RNS Number : 8998H
Derwent London PLC
06 August 2021
DERWENT LONDON PLC
("the Company")
BOARD CHANGES
Appointment of Sanjeev Sharma
Derwent London is pleased to announce the appointment of Sanjeev
Sharma, who will be joining the Board as an independent
Non-Executive Director with effect from 1 October 2021. Upon
appointment, Sanjeev will become a member of the Risk, Audit and
Nominations Committees.
Sanjeev Sharma is Chief Property Portfolio Officer at M&G
Real Estate - a leading financial solutions provider for global
real estate investors, which is part of M&G plc's GBP67.2
billion Private & Alternative Assets division. Sanjeev has
significant experience in the real estate sector and financial
services, is a member of the Real Estate Balance board and chairs
the People in Property group.
Sanjeev Sharma was previously a Non-Executive Director of Urban
& Civic PLC, a publicly quoted company, for the period May 2019
to January 2021. There is no further information to be disclosed
pursuant to LR 9.6.13R in respect to this directorship.
Retirement of Simon Fraser
After nine years on the Board, Simon Fraser will retire from his
position as a Non-Executive Director of the Company on 31 October
2021. Simon is the Company's Senior Independent Director and Helen
Gordon, Non-Executive Director of the Company since 2018, will be
appointed Senior Independent Director on Simon's retirement. Helen
is a chartered surveyor and is Chief Executive Officer of Grainger
plc.
Mark Breuer, Chairman said:
"We are delighted that Sanjeev is joining the Board of Derwent
London. His extensive knowledge of the real estate market will
enable him to make a valuable contribution to our Group. I am also
looking forward to working even more closely with Helen Gordon in
her new role as Senior Independent Director."
Paul Williams, Chief Executive said:
"On behalf of my fellow directors, I would like to thank Simon
for his considerable contribution to Derwent London. As Chair of
the Nominations Committee, Simon has guided the Board during its
recent succession changes. We wish him every success in the
future."
D A Lawler
Company Secretary
Enquiries:
Company Secretary
020 7659 3000
www.derwentlondon.com
6 August 2021
Notes to editors
Derwent London plc
Derwent London plc owns 83 buildings in a commercial real estate
portfolio predominantly in central London valued at GBP5.4 billion
(including joint ventures) as at 31 December 2020, 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 5.6 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
About Real Estate Balance
Real Estate Balance is a membership organisation working to
improve diversity and inclusion in the real estate industry.
Learn more at www.realestatebalance.org
People in Property (PiP)
People in Property is a group of Human Resources Directors
within the real estate sector sharing strategic HR best practices
to effect positive change for the real estate sector. The group
comprises 27 firms across all spectrums of the sector including
REITs/Asset Managers/Consultants/Private Companies.
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