Regional REIT Limited Board Change (3812K)
July 07 2017 - 2:00AM
UK Regulatory
TIDMRGL
RNS Number : 3812K
Regional REIT Limited
07 July 2017
7 July 2017
Regional REIT Limited
Board Change
The Board of Regional REIT Limited (LSE: RGL) ("Regional REIT",
"the Group" or "the Company"), the UK regional office and
industrial property focused REIT, today announces that Mr Martin
McKay is to step down as a Director with immediate effect.
Martin McKay has been a Non-Executive Director of the Company
from its inception. In this role he oversaw the establishment of
Regional REIT Limited as a listed company.
The Board is pleased to confirm the immediate appointment of Mr
Tim Bee as a Non-Executive Director of the Company. Tim Bee has
also been appointed a Director of Regional REIT ZDP PLC. There are
no further matters to be disclosed under Listing Rule 9.6.13.
Kevin McGrath, Chairman of Regional REIT Limited, commented: "I
am very grateful for the valuable support that Martin has provided
as a Director of Regional REIT. Tim is already familiar to the
Board, having provided advice to the Company and contributed to a
range of business projects. We welcome him as a Director as the
Board continues to press ahead with the Company's strategy of
active asset management initiatives and opportunistic acquisitive
growth."
- ENDS -
Biography for Tim Bee
Tim Bee is the Chief Legal Counsel of Toscafund Asset Management
LLP ("Toscafund"). Tim joined Toscafund in May 2014 having
previously been a corporate partner at two leading London-based law
firms. He qualified as a solicitor in 1988 and has extensive
experience in mergers & acquisitions, equity capital markets
and financial services.
Enquiries:
Regional REIT Limited
Press enquiries through Headland PR
Toscafund Asset Management LLP Tel: +44 (0) 20 7845 6100
Investment Manager to the Group
James S Johnson, Investor Relations, Regional REIT Limited
London & Scottish Investments Limited Tel: +44 (0) 141 248 4155
Asset Manager to the Group
Stephen Inglis
Headland PR Consultancy LLP Tel: +44 (0) 20 7367 5222
Financial PR
Francesca Tuckett
About Regional REIT
Regional REIT Limited (LSE: RGL) is a London Stock Exchange Main
Market traded specialist real estate investment trust focused on
office and industrial property interests in the principal regional
locations of the United Kingdom outside of the M25 motorway.
Regional REIT is managed by London & Scottish Investments,
the Asset Manager, and Toscafund Asset Management, the Investment
Manager, and was formed by the combination of two existing funds
previously created by the Managers as a differentiated play on the
expected recovery in UK regional property, to deliver an attractive
total return to Shareholders and with a strong focus on income.
The Group's investment portfolio, as at 31 December 2016, was
spread across 123 regional properties, 941 units and 717 tenants.
As at 31 December 2016, the investment portfolio had a value of
GBP502.4m and a net initial yield of 6.7%. The weighted average
unexpired lease term to first break was 3.6 years.
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.
ESMA Legal Entity Identifier ("LEI"): 549300D8G4NKLRIKBX73
This information is provided by RNS
The company news service from the London Stock Exchange
END
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