Appointment of Chairman

RNS Number : 8027V

Empiric Student Property PLC

26 July 2018

 

26 July 2018

Empiric Student Property plc

("Empiric" or the "Company" or, together with its subsidiaries, the "Group")

APPOINTMENT OF CHAIRMAN

The Board of Empiric Student Property plc (ticker: ESP), the owner and operator of premium student accommodation across the UK, is pleased to announce the appointment of Mark Pain as Non-Executive Chairman of the Group with effect from 1 September 2018. Mark will also chair the Nominations Committee and be a member of the Remuneration Committee of the Company. Stuart Beevor, the current Acting Non-Executive Chairman, will step down from this role and will resume his role of Non-Executive Director of the Company and chairman of the Remuneration Committee.

Mark is a qualified accountant who has extensive experience as an executive and non-executive in a wide range of companies in the real estate, financial services and consumer/leisure sectors. Mark is currently Vice Chairman and Senior Independent Director at Yorkshire Building Society and Chairman of a London based residential property developer, London Square. Mark spent 16 years at Abbey National plc holding senior executive board positions, ultimately Group Finance Director, and was Group Finance Director for five years at Barratt Developments plc.

He has over 10 years' experience across several sectors in previous non-executive board positions, including Ladbrokes Coral Group plc (2015-2018), Aviva Insurance Ltd, the UK regulated entity of Aviva plc (2013-17), Spirit Pub Group plc (2011-2015), Johnston Press plc (2010-2015), Northern Rock (2010-2012) LSL Property Services (2009-2013) and Punch Taverns plc (2007-2012).

Stuart Beevor, Acting Non-Executive Chairman, said:

"Following a very thorough and independent appointment process, the Board has agreed that Mark is the right candidate to become Empiric Student Property's Chairman. We are confident that with Mark's strong financial, customer and shareholder focus and his wealth of board experience, he will make a significant contribution to the future success of the Group."

Mark Pain commented:

"I am delighted to be joining Empiric as Chairman and am very much looking forward to working with Tim, Lynne and the Board at this exciting time in the Company's development. Much has been accomplished but there is still more to be done to drive greater customer focus, improved financial and operational efficiencies and sustainable shareholder value over the short and longer-term."

No further information is required to be disclosed pursuant to Listing Rule 9.6.13.

For further information on the Company, please contact:

Empiric Student Property plc	(via Newgate below)
Tim Attlee (Acting Chief Executive Officer)
Lynne Fennah (Chief Financial & Operating Officer)
Jefferies International Limited	Tel: [phone]
Gary Gould
Stuart Klein
Newgate (PR Adviser)	Tel: [phone]
James Benjamin	Em: [e-mail]
Anna Geffert
Patrick Hanrahan

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® 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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