Market Announcement - Chairman rotation

RNS Number : 9172P

Real Estate Credit Inv. PCC Ltd

12 June 2015

 

12 June 2015

Real Estate Credit Investments PCC Limited (the "Company")

Chairman Change

Following the Company's announcement on 1 June 2015, regarding Bob Cowdell's appointment to the Board of Directors, the Company confirms that with effect from today, he will take over as independent Non-Executive Chairman from Tom Chandos who has stepped down from the Board.

Tom Chandos said "Bob's profound understanding of capital markets, corporate governance and investment companies will be of great benefit to the Company in providing public market investors with a vehicle through which to participate in the real estate debt markets. I am delighted by his appointment and wish him and the Company the greatest possible success."

Bob Cowdell, Chairman, said "I am pleased to be succeeding Tom as Chairman and believe that the Company is well positioned to utilise its Manager's expertise to take advantage of opportunities in the real estate loan and bond markets to deliver attractive returns for our shareholders. I should like to join with my fellow Directors in expressing thanks to Tom for his leadership and commitment to the Company during the decade since its launch and for successfully steering it through the market challenges of the late 2000s to the positive position and outlook it enjoys today."

No further disclosures are required regarding Bob Cowdell's appointment in respect of paragraphs 9.6.13R (1) - (6) of the Financial Conduct Authority's Listing Rules.

For further information, please contact:

Public Relations:                                  Henrietta Dehn   [phone]

Investor Relations:                               Nicole Von Westenholz   [phone]

 

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