Empiric Student Property PLC Directorate Change (5405G)
March 18 2020 - 3:00AM
UK Regulatory
TIDMESP
RNS Number : 5405G
Empiric Student Property PLC
18 March 2020
18 March 2020
Empiric Student Property plc
("Empiric" or the "Company" or, together with its subsidiaries,
the "Group")
DIRECTOR CHANGE
The board of Empiric Student Property plc (ticker: ESP) (the
"Board"), the owner and operator of premium student accommodation
across the UK, announces that Tim Attlee will be stepping down from
his role as Chief Executive Officer of the Company.
Tim will remain in his position until the end of June 2020 to
help to ensure an orderly handover takes place. The Board will,
with immediate effect, commence a search for his successor.
Tim co-founded and helped float Empiric in 2014. As the
Company's Chief Investment Officer, Tim led the acquisition of all
the assets by the Group and oversaw the Company's development
programme. In December 2017, Tim was appointed acting Chief
Executive Officer and was appointed as Chief Executive in November
2018. Together with Lynne Fennah, Chief Financial & Operating
Officer, Tim has been responsible for executing a transformation of
the Group and the significant improvements to the Company's
operational and financial performance.
Mark Pain, Chairman of Empiric Student Property plc,
commented:
"The Board and I are extremely grateful for the significant
contribution Tim has made to the business, particularly over the
last two years.
Tim, working closely with Lynne, has transformed the Group into
a fully integrated operational property business. This work is now
largely complete. We are now turning our attention to embedding the
changes we have made to the business, driving further improvements
to the financial and operational performance of the Group and
delivering sustainable benefits to the Company's shareholders,
customers and wider stakeholders in 2020 and over the longer
term.
I am looking forward to working closely with Tim in the months
ahead whilst also ensuring a smooth transition to the new CEO."
Tim Attlee, Chief Executive Officer, said:
"After six very rewarding years, and with the Company in a much
stronger operational and financial position, now feels like the
right time for me to step down and for a new CEO to lead the
Group.
I'd like to thank the Board and our shareholders for the support
they have shown me, and my colleagues for the role they have played
in helping to transform the business."
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Empiric Student Property plc (via M aitland/AMO below)
Tim Attlee (Chief Executive Officer)
Lynne Fennah (Chief Financial & Operating
Officer)
Jefferies International Limited Tel: 020 7029 8000
Stuart Klein
Tom Yeadon
RBC Europe Limited (trading as RBC Tel: 020 7653 4000
Capital Markets)
Charlie Foster
Marcus Jackson
M aitland/AMO (Communications Adviser) Tel: 020 7379 5151
James Benjamin Email: empiric-maitland@maitland.co.uk
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, direct-let, nominated or leased student accommodation
across the UK. Investing in both operating and development assets,
Empiric is a multi-niche student property company focused on, (i)
providing good quality first year accommodation managed through its
Hello Student(R) operating platform in partnership with
universities, (ii) offering a variety of second and third year
purpose-built accommodation options for individual students and
those wanting a group living environment, and (iii) continuing to
expand the Group's existing premium, studio-led accommodation
portfolio which is attractive to international and postgraduate
students.
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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