Directorate Change

RNS Number : 5976R

LXI REIT PLC

06 July 2022

 

6 July 2022

LXi REIT plc

(the "Company" or the "Group")

BOARD CHANGES

The Board of LXi REIT plc (ticker: LXI), the specialist inflation-protected long income REIT, is pleased to confirm that, as disclosed in the Company's Prospectus and Circular dated 1 June 2022 and following the Merger completion, Nick Leslau and Sandy Gumm have now been appointed as Non-Executive Board members with immediate effect.

Nick Leslau

Nick Leslau, BSc (Hons) Est Man, FRICS, until the merger was the Chairman and majority shareholder of Prestbury Investment Partners Limited, investment adviser to the Secure Income REIT plc group of companies ('SIR Group'). Nick is a Fellow of the RICS, who has been Chairman and Chief Executive of Prestbury Investment Holdings Limited since it commenced business in 2000.

He was Chief Executive of Burford Holdings Plc for approximately ten years up to 1997 and Group Chairman and Chief Executive of Prestbury Group Plc from 1998. He has sat on many quoted and unquoted company boards including, most recently, Max Property Group Plc, and is a member of the Bank of England Property Forum. Nick was a director of Secure Income REIT plc and many of its UK subsidiaries throughout the time that it was listed.

Sandy Gumm

Sandy Gumm, Bec, CA (ANZ), is an Australian qualified Chartered Accountant with over 29 years' experience and Chief Operating Officer of and a shareholder in Prestbury Investment Partners Limited, which was, until the merger became effective, the investment adviser to the SIR Group. She qualified as a Chartered Accountant in 1992 and worked for KPMG for nine years in Sydney and London before becoming Group Financial Controller of Burford Holdings Plc, where Nick Leslau was Chief Executive, in 1995. She was Finance Director at the time that Prestbury Group Plc was established in 1997, and in 2007 became Chief Operating Officer of Prestbury. Sandy was a director of Secure Income REIT plc and all of its UK subsidiaries throughout the time that it was listed and has also acted as its Company Secretary during that time.

Cyrus Ardalan, Chairman of LXi REIT plc, commented:

"I am delighted to welcome Nick and Sandy to the Board. They bring with them a wealth of knowledge and experience gained in a number of roles which will further strengthen our Board and we look forward to working with them."

In accordance with the Listing Rules, other than as disclosed above, t here are no matters required to be disclosed pursuant to Listing Rule 9.6.13R.

Board Committees

Upon their appointment, Sandy and Nick will become members of the Nomination Committee. 

The Board further wish to confirm that, as detailed in the Company's Prospectus and Circular dated 1 June 2022, the Board has established a Property Investment Committee initially comprising John Cartwright, Nick Leslau and Hugh Seaborn.

FOR FURTHER INFORMATION, PLEASE CONTACT:

LXI REIT Advisors Limited Simon Lee (Partner, Fund Manager) John White (Partner, Fund Manager) Freddie Brooks (CFO)	Via Maitland/amo
Peel Hunt LLP Luke Simpson/Liz Yong	020 7418 8900
Jefferies International Tom Yeadon / Ed Matthews	020 7029 8000
Maitland/amo (Communications Adviser) James Benjamin/Alistair de Kare-silver	07747 113 930 / 020 7379 5151 [e-mail]

The Company's LEI is: 2138008YZGXOKAXQVI45

NOTES:

LXI REIT plc invests in UK commercial property assets let, or pre-let, on long (typically 20 to 30 years to expiry or first break), inflation-linked leases to a wide range of strong tenant covenants across a diverse range of robust property sectors.

The Company may invest in fixed-price forward funded developments, provided they are pre-let to an acceptable tenant and full planning permission is in place. The Company will not undertake any direct development activity nor assume direct development risk.

The Company is targeting a dividend of 6.3 pence per ordinary share for the year which commenced on 1 April 2022*.

The Company, a real estate investment trust ( " REIT " ) incorporated in England and Wales, is listed on the premium listing segment of the Official List of the UK Listing Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in February 2017.

The Company is a constituent of the FTSE 250, EPRA/NAREIT and MSCI indices.

Further information on the Company is available at www.lxireit.com

*This is a target and not profit forecast.

 

END

 

 

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