Appointment of Chairman

RNS Number : 6157B

Sirius Real Estate Limited

24 September 2018

 

24 September 2018

Sirius Real Estate Limited

("Sirius Real Estate" or the "Company")

Directorate Change

Sirius Real Estate appoints Danny Kitchen as Chairman

Sirius Real Estate, the leading operator of branded business parks providing conventional space and flexible workspace in Germany, announces the appointment of Daniel (Danny) Kitchen to the Company's Board as non- executive chairman with immediate effect.

Danny brings more than 25 years of property and finance experience in both the listed and private markets. After 14 years in corporate finance and M&A with the Investment Bank of Ireland, he was appointed in 1994 as chief finance officer of Green Property PLC, an Irish listed property company.  In 2003 he left to join Heron International as group finance director and deputy chief executive. He is currently non- executive chairman of Workspace Group PLC, Hibernia REIT plc and Applegreen PLC. He is also a non- executive director and chairman of the audit committee of LXB Retail Properties PLC, although this is currently being wound down. Danny was appointed chairman of Irish Nationwide Building Society between 2008 and 2011 and is a Director of the Irish Takeover Panel.

Andrew Coombs Chief Executive Officer of Sirius Real Estate, said: "We are delighted to welcome Danny to the board as our chairman and look forward to working with him. Danny brings with him extensive experience and expertise in real estate and finance, as well as being a very experienced listed property company chairman. His skillset will further strengthen our existing board and add significant value in helping Sirius to deliver its future growth ambitions".

Danny Kitchen, said: "Sirius is a well-respected business with a very interesting business model which is capable of delivering significant growth in shareholder value over the next few years. I look forward to working with the board and wider executive management team to maximise the future opportunities open to the company".

This announcement is made in accordance with paragraph 3.59(a) of the JSE Listings Requirements. In addition, details that are required to be disclosed in respect of Danny Kitchen's appointment under Rule 9.6.13 of the Listing Rules of the UK Listing Authority are:

Current Directorships or Partnerships	Previous Directorships or Partnerships
Workspace Group PLC Hibernia REIT PLC Applegreen PLC LXB Retail Properties PLC	None

For further information:

Sirius Real Estate

James Peggie, Senior Independent Director

Tel: [phone]

Andrew Coombs, CEO

Alistair Marks, CFO

Tel: [phone]           

Tavistock (financial PR)

Jeremy Carey

James Verstringhe

Tel: [phone]

[e-mail]

NOTES TO EDITORS

About Sirius Real Estate

Sirius is a property company listed on the main market and premium segment of the London Stock Exchange and the main board of the Johannesburg Stock Exchange.  It is a leading operator of branded business parks providing conventional space and flexible workspace in Germany. The Company's core strategy is the acquisition of business parks at attractive yields, the integration of these business parks into its network of sites under the Company's own name as well as offering a range of branded products within those sites, and the reconfiguration and upgrade of existing and vacant space to appeal to the local market, through intensive asset management and investment. The Company's strategy aims to deliver attractive returns for shareholders by increasing rental income and improving cost recoveries and capital values, as well as by enhancing those returns through financing its assets on favourable terms. Once sites are mature and net income and values have been optimised, the Company may take the opportunity to refinance the sites to release capital for investment in new sites or consider the disposal of sites in order to recycle equity into assets which present greater opportunity for the asset management skills of the Company's team.

For more information, please visit: www.sirius-real-estate.com

Follow us on LinkedIn at https://www.linkedin.com/company/siriusrealestate/

Follow us on Twitter at @SiriusRE

LEI: 213800NURUF5W8QSK566

JSE Sponsor

PSG Capital

 

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