Board Update

RNS Number : 2772K

Unite Group PLC

13 July 2011

 



13 July 2011

THE UNITE GROUP PLC

("UNITE" / "Group" / "Company")

Board Update

The UNITE Group plc, the UK's leading developer and manager of student accommodation, announces that Nigel Hall, Non Executive Director of UNITE, has indicated his intention to retire from the Board at the Company's AGM in May 2012, when he will have served three full terms in office.

In anticipation of this change the Board has agreed that Stuart Beevor will assume the position of Senior Independent Director with immediate effect. A search for a replacement Non Executive Director has already commenced. Mr Hall will continue to carry out his duties as Chair of the Audit Committee until he retires.

For further information, please contact:

The UNITE Group plc Paul Harris Sally Quigg	Tel: [phone]
Financial Dynamics Stephanie Highett Dido Laurimore Laurence Jones	Tel: [phone]

About The UNITE Group 

The UNITE Group is the UK's leading developer and manager of student accommodation, with a business model that focuses on four core areas;

1.   Development: UNITE undertakes the acquisition, planning and development of purpose-built student accommodation in the UK.

2.   Professional property management: UNITE is home to some 40,000 students and has consistently proven high occupancy levels across its portfolio.

3.   Proactive asset management: Through the continuous assessment of quality and location of its investment portfolio, UNITE are well positioned to deliver value adding strategies to those assets where further opportunities are identified.

4.   Co-investing asset management: Working on behalf of its partners, UNITE acts as Fund Manager for the UNITE UK Student Accommodation Fund in addition to being 16.3% shareholders. UNITE also manages a number of Joint Venture partnerships.

UNITE works closely with universities and colleges, in order to deliver high quality, well-located student accommodation at affordable prices in strong higher education markets.

Founded in 1991, UNITE is listed on the London Stock Exchange (UTG).

The UNITE UK Student Accommodation Fund

UNITE established the UNITE UK Student Accommodation Fund at the end of 2006. The Fund helped transform UNITE's business model to that of a developer of new purpose-built student accommodation and manager of funds which own student accommodation properties operated by UNITE and in which the Company has a significant minority stake.

The number of unitholders in the Fund is over 100.

www.unite-group.co.uk

www.unite-students.com

 

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