Board Appointment

PRS REIT PLC (The)

10 October 2023

 

PRSR.L

The PRS REIT plc

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

Board Appointment

The PRS REIT, the closed-ended real estate investment trust that invests in high-quality, new build family homes in the private rented sector, is pleased to announce the appointment of Karima Fahmy to the Board as an Independent Non-Executive Director and a member of the Company's Audit Committee and Management Engagement Committee. Her appointment takes immediate effect. In addition, the Company announces that Jim Prower, currently Independent Non-Executive Director, intends to resign from the PRS REIT and is therefore not putting himself forward for re-election at the Company's forthcoming Annual General Meeting on 4 December 2023. His resignation will take effect immediately after the completion of the AGM. 

Karima Fahmy is a corporate lawyer with extensive experience of the UK property market. This encompasses investment, development and management of all property tenures, including residential. During her executive career, she worked at Grosvenor Group ("Grosvenor"), the international property group, latterly as General Counsel until 2020. She was a member of Grosvenor's UK Executive Committee and involved in all aspects of Grosvenor's property business, advising on a range of ventures, including new community schemes and placemaking projects. Prior to Grosvenor, Karima worked at Hogan Lovells, the global law firm, advising both listed and unlisted companies.

Karima holds two other non-executive directorships in the property sector. She is Non-executive Director of Latimer Developments Limited, the development arm of the Clarion Housing Group, the UK's largest housing association, and a Trustee of Clarion Futures, Clarion Housing Group's charitable foundation. She is also Non-executive Director of BCP FuturePlaces Limited, the urban regeneration company created by Bournemouth, Christchurch and Poole (BCP) Council.  In addition, Karima is an Independent Board Member of University of Cambridge Property Board and Non-executive Director of Bournemouth University. She is a trustee of United Learning Trust, a schools group, and trustee of Great Ormond Street Hospital's Children's Charity, where she is also a Member of its Property & Development Committee.

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

"We're delighted to welcome Karima to the Company. She has extensive experience in the UK property sector and her range of skills and knowledge adds further depth and strength to the PRS REIT's Board. She will be a valuable addition to the Board as we continue to develop the Company.

"On behalf of the Board, I would like to thank Jim Prower for his contribution to the PRS REIT during his time on the Board, and he will retire from the Company with our very best wishes for the future."

There are no other details that are required to be disclosed in respect of Rule 9.6.13 of the Financial Conduct Authority'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 Ltd Graham Barnet, Mike McGill	Tel: [phone]
Singer Capital Markets James Maxwell, Asha Chotai (Investment Banking) Alan Geeves, James Waterlow, Sam Greatrex (Sales)	Tel: [phone]
Jefferies International Limited Gaudi Le Roux, Tom Yeadon, Harry Randall, Ollie Nott	Tel: [phone]
G10 Capital Limited (part of IQ-EQ) Paul Cowland	Tel: [phone]
KTZ Communications Katie Tzouliadis, Robert Morton	Tel: [phone]

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 ("PRS") and to provide shareholders with an attractive level of income together with the potential for capital and income growth. The Company has investment of over £1bn in a portfolio of high-quality homes for private rental across the regions, having raised a total of £0.56bn (gross) through its Initial Public Offering, on 31 May 2017 and subsequent fundraisings in February 2018 and September 2021. The UK Government's Homes England has supported the Company with direct investments. On 2 March 2021, the Company transferred its entire issued share capital to the premium listing segment of the Official List of the FCA and to the London Stock Exchange's premium segment of the Main Market. Now comprising over 5,000 build-to-rent homes, the Company believes its portfolio is the largest build-to-rent single-family rental portfolio in the UK.

LEI:  21380037Q91HU97WZX58

About Sigma Capital Group Limited (formerly Sigma Capital Group plc)
www.sigmacapital.co.uk

Sigma Capital Group Limited ("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 excellent property procurement and management 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 manages the rental of completed homes through its award-winning rental brand 'Simple Life'. The Company's subsidiary, Sigma PRS Management Ltd, is Investment Adviser to The PRS REIT plc. 

About Sigma PRS Management Ltd

Sigma PRS Management Ltd is a wholly-owned subsidiary of Sigma Capital Group Limited 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 AIFM 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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