Announcement of Name Change and New Directors

Barratt Developments PLC

04 October 2024

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

4 October 2024

BARRATT REDROW PLC (the "Company")

NAME CHANGE TO BARRATT REDROW PLC AND BOARD CHANGES

Name Change to Barratt Redrow plc

Further to the Company's announcement earlier today that the United Kingdom's Competition and Markets Authority has accepted undertakings in lieu of a reference to a Phase 2 investigation in connection with the all-share combination of the Company and Redrow plc (the "Combination"), the Company today announces that its name has been changed from Barratt Developments plc to Barratt Redrow plc. The change of name has been registered at Companies House and is effective from today.

Trading in the Company's shares on the London Stock Exchange under the new name of Barratt Redrow plc and under the updated TIDM (ticker symbol) "BTRW" will commence at 8.00 a.m. on 7 October 2024.

In order to reflect the new name, the Company's website address will be changed to www.barrattredrow.co.uk effective from 7 October 2024.

Existing shareholders should note that their shareholdings will be unaffected and no action is required with respect to their rights as a shareholder. Existing share certificates should be retained as they will remain valid for all purposes. Any new share certificates to be issued will bear the new name, Barratt Redrow plc.

The Company's ISIN and SEDOL remain GB0000811801 and 0081180 respectively. The Company Legal Entity Identifier (LEI) remains 2138006R85VEOF5YNK29.

Board Changes

The Company is also pleased to announce the following appointments to the Board of Directors of the Company, with effect from today, 4 October 2024:

•          Matthew Pratt, to the position of Chief Executive Officer, Redrow and Group Executive Director;

•          Geeta Nanda, as a Non-Executive Director; and

•          Nicky Dulieu, as a Non-Executive Director.

Caroline Silver, Chair of the Company, said: "I am delighted to welcome Matthew, Geeta and Nicky to the Board at such an exciting time for our business. With Barratt Redrow, we have created an exceptional housebuilder, capable of delivering more of the high quality homes the country needs. The combined expertise of our Board members will help to ensure that we continue to deliver the high quality, service and sustainability that both Barratt and Redrow are known for, whilst achieving a successful integration process which preserves the best of both organisations for the benefit of our people, our customers, our partners and our shareholders."

Further information on Directors pursuant to UKLR 6.4.8R

Matthew Pratt is currently the Group Chief Executive of Redrow plc.

Geeta Nanda served as the Chief Executive of Metropolitan Thames Valley Housing Association and Metropolitan Funding plc between 2018 and 2 September this year and a Non-Executive Director of McCarthy & Stone plc between 2015 and 2021. She is currently a Non-Executive Director and the Senior Independent Director of The PRS Reit plc as of 2021 and a Non-Executive Director of the charity, Crisis UK, as of September this year. Geeta has also been a Non-Executive Director of Redrow plc since 2023, but she has resigned from the board of Redrow plc, effective as of today's date, 4 October 2024. Geeta will serve as a member of the Audit, Nomination and Remuneration Committees of the Company.

Nicky Dulieu was a Non-Executive Director of Huntsworth plc between 2015 and 2020 and a Director of Marshall Motor Holdings plc between 2020 and 2022. Nicky has previously been a Non-Executive Director of John Lewis Partnership plc for over 7 months in 2023 and Adnams plc between 2014 and 2023. She is currently Senior Independent Director at The Unite Group plc since 2023, having joined the Board as Non-Executive Director in 2022, and a Non-Executive Director of WH Smith plc since 2020. Nicky has also been the Senior Independent Director of Redrow plc since 2022, having joined the Board as a Non-Executive Director in 2019, but she has resigned from the board of Redrow plc, effective as of today's date, 4 October 2024. Nicky Dulieu will serve as a member of the Audit, Nomination, Remuneration and Sustainability Committees of the Company, and will also be the Designated Non-Executive Director for Workforce Engagement.

There is no further information to be disclosed in respect of Matthew Pratt, Geeta Nanda or Nicky Dulieu pursuant to UKLR 6.4.8R.

Enquiries:

Barratt Redrow
Mike Scott, Chief Financial Officer John Messenger, Group Investor Relations Director	[phone]
UBS (Lead Financial Adviser, Sole Corporate Broker and Sponsor to the Company)
Jonathan Retter Joe Hannon Anisah Mahomed	[phone]
Morgan Stanley (Financial Adviser to the Company)
Shirav Patel  Nick White	[phone]
Brunswick Group LLP (Public Relations Adviser to the Company)
Jonathan Glass Rosie Oddy Peter Hesse	[phone]

Linklaters LLP is retained as legal adviser to the Company.

Important notices

UBS AG London Branch ("UBS") is authorised and regulated by the Financial Market Supervisory Authority in Switzerland. It is authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority in the United Kingdom. UBS is acting exclusively as sole corporate broker, lead financial adviser and sole sponsor to the Company and no one else in connection with the Combination. In connection with such matters, UBS will not regard any other person as its client, nor will it be responsible to any other person for providing the protections afforded to its clients or for providing advice in relation to the Combination, the contents of this announcement or any other matter referred to herein.

Morgan Stanley & Co. International plc ("Morgan Stanley"), which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the UK is acting as financial adviser exclusively for the Company and no one else in connection with the Combination. In connection with the Combination, Morgan Stanley, its affiliates and their respective directors, officers, employees and agents will not regard any other person as their client, nor will they be responsible to any person other than the Company for providing the protections afforded to clients of Morgan Stanley or for providing advice in connection with any matter referred to herein.

Publication on Website

A copy of this announcement will be made available, subject to certain restrictions relating to persons resident in restricted jurisdictions, on the Company's website at www.barrattdevelopments.co.uk. For the avoidance of doubt, the contents of the website are not incorporated into and do not form part of this announcement.

Requesting hard copies

Shareholders of the Company may, subject to applicable securities law, request a hard copy of this announcement by contacting the Company's Registrars, Equiniti Group, between 8.30 a.m. and 5.30 p.m. Monday to Friday (except public holidays in England and Wales) on [phone] or by submitting a request in writing to Equiniti Group, Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA.

General

If you are in any doubt as to the contents of this announcement, you should consult your stockbroker, bank manager, solicitor, accountant or other independent professional adviser who, if you are taking advice in the United Kingdom, is authorised pursuant to the Financial Services and Markets Act 2000 (as amended) or, if you are in a territory outside the United Kingdom, is an appropriately authorised independent financial adviser.

Barratt Redrow plc's legal entity identifier is 2138006R85VEOF5YNK29.

 

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