Appointment of Non-executive Director

RNS Number : 2526T

PRS REIT PLC (The)

24 March 2021

 

24 March 2021

PRSR.L

The PRS REIT plc

("the Company" or "the PRS REIT")

Appointment of Non-executive Director

The PRS REIT, the closed-ended real estate investment trust that invests in high-quality, new build, family homes in the private rented sector ("PRS"), is pleased to announce the appointment of Geeta Nanda, OBE, as a Non-executive Director, with immediate effect.

Geeta has over 25 years' experience of working in the property sector. She is Chief Executive Officer of Metropolitan Thames Valley Housing Association ("MTVH"), having previously led its creation in 2017 with the merger of Metropolitan Housing Trust and Thames Valley Housing Association Ltd, where she was Chief Executive Officer. At MTVH, Geeta is responsible for the management of 60,000 homes, with 100,000 residents, and an ongoing new-build programme. She also has significant experience of PRS, having established 'Fizzy Living', the London PRS subsidiary of Thames Valley Housing Association Ltd in 2012.

Geeta is an Advisory Board member of Cities Restart, the body dedicated to helping cities reopen following COVID-19, and a Board member of The National Housing Federation, the industry body representing providers of housing. She is also Vice Chair and Chair-elect of G15, the group of London's largest housing associations.

She was previously a Non-executive Director of McCarthy & Stone plc, the retirement communities developer and manager, from 2015 until its acquisition in early 2021, a Non-executive Director of The St Mungo Community Housing Association, a charity that helps the homeless, and Vice Chair of SCOPE, the national disability charity.

Steve Smith, Chairman of The PRS REIT plc, commented:

"We are delighted to welcome Geeta to the Board of The PRS REIT plc. She brings wide-ranging skills and experience, and a broad understanding of the housing market, including build-to-rent. She is widely respected for her work and has a strong track record of success. Geeta will add further depth to the Board, and we look forward to working with her as The PRS REIT plc continues to grow."

There are no other matters in connection with this appointment to be disclosed under section 9.6.13 R (1) to (6) of the FCA's Listing Rules.

For further information, please contact:

The PRS REIT plc Steve Smith, Non-executive Chairman	Tel: [phone] (c/o KTZ Communications)
Sigma PRS Management Limited Graham Barnet, Mike McGill	Tel: [phone]
N+1 Singer  James Maxwell, James Moat, Sebastian Burke	Tel: [phone]
Panmure Gordon (UK) Limited Chloe Ponsonby (Corporate Broking), Alex Collins (Corporate Finance)	Tel: [phone]
G10 Capital Limited (part of the IQEQ Group as AIFM) Paul Turner	Tel: [phone]
KTZ Communications Katie Tzouliadis, Dan Mahoney

NOTES TO EDITORS

About The PRS REIT plc
www.theprsreit.com  

The PRS REIT plc is a closed-ended real estate investment trust established to invest in the Private Rented Sector and to provide shareholders with an attractive level of income together with the potential for capital and income growth. The Company is investing £0.9bn in a portfolio of high quality homes for private rental across the regions, having raised a total of £500m (gross) through its Initial Public Offering, on 31 May 2017, and a subsequent placing in February 2018. Both fundraisings were supported by the UK Government's Homes England with direct investments. 

LEI:  21380037Q91HU97WZX58

About Sigma Capital Group plc
www.sigmacapital.co.uk

Sigma Capital Group plc ("Sigma") is a PRS, residential development, and urban regeneration specialist, with offices in Edinburgh, Manchester and London. Sigma's principal focus is on the delivery of large scale housing schemes for the private rented sector. The Company has a well-established track record in assisting with property related regeneration projects in the public sector, acting as a bridge between the public and private sectors.

Sigma has created an unrivalled PRS platform, which sources sites and brings together construction resource to develop them, enabling Sigma to deliver an integrated solution to partners. As well as sourcing sites and managing all stages of the planning and development process, Sigma also manages the rental of completed homes through its award-winning rental brand, 'Simple Life'.

The Company's subsidiary, Sigma PRS Management Limited, is Investment Adviser to The PRS REIT plc. In September 2020, the Company launched a joint venture with EQT Real Estate, the real estate platform of global investment firm EQT to establish a £1bn portfolio of high quality, new-build homes for private rental in Greater London.

About Sigma PRS Management Limited

Sigma PRS Management Limited is a wholly-owned subsidiary of AIM-quoted Sigma Capital Group plc and is Investment Adviser to The PRS REIT plc. It sources investments and operationally manages the assets of The PRS REIT plc and advises the Alternative Investment Fund Manager ("AIFM") and The PRS REIT plc on a day-to-day basis in accordance with The PRS REIT plc's Investment Policy. The Investment Manager is G10 Capital Limited. Sigma PRS Management Ltd is an appointed representative of G10 Capital Limited, which is authorised and regulated by the Financial Conduct Authority (FRN:648953).

 

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