Alternative Income REIT PLC Directorate Changes (2899N)
September 29 2021 - 1:00AM
UK Regulatory
TIDMAIRE
RNS Number : 2899N
Alternative Income REIT PLC
29 September 2021
THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND
IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION IN THE UNITED
STATES OF AMERICA, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA,
CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.
29 September 2021
Alternative Income REIT plc
(the "Company" or the "Group")
DIRECTORATE CHANGES
The Board of Directors of Alternative Income REIT plc (ticker:
AIRE), the owner of a diversified portfolio of UK commercial
property assets predominantly let on long leases, announces that
following the completion of a comprehensive and thorough
recruitment process, which was supported by external consultants,
Stephanie Eastment has been appointed to the Board as an
Independent Non-Executive Director and Chair of the Audit Committee
effective 1 October 2021. As part of a planned succession process,
Jim Prower will resign as a Director of the Company on the same
day.
Stephanie is a non-executive director and audit chair of Murray
Income Trust plc, Herald Investment Trust plc and Impax
Environmental Markets plc. She is also Fellow of the Institute of
Chartered Accountants in England and Wales, a Fellow of The
Chartered Governance Institute and a member of the Technical
Committee of the Association of Investment Companies. Previously
Stephanie was Head of Specialist Funds Company Secretariat and
Accounts at Invesco Perpetual, where she had worked since 1996
specialising in the asset management industry with particular focus
on investment trusts. Her career spans over 30 years working in
financial services including roles at UBS, Wardley Investment
Services International and KPMG. Stephanie and her PCAs hold a
total of 20,473 shares in the Company.
No further information is required to be disclosed pursuant to
Listing Rule 9.6.13R.
Alan Sippetts, Non-Executive Chairman of Alternative Income REIT
plc, comments:
"On behalf of the Board, I would like to express my sincere
thanks to Jim Prower for his significant and invaluable
contribution, insights and unwavering commitment over the past four
years since our IPO, helping to ensure that the Company is well
positioned to provide attractive total returns to our shareholders
principally in the form of fully covered dividends . Jim has been a
pleasure to work with and he leaves with our very best wishes for
the future.
We are delighted to welcome Stephanie to the Board as a
Non-Executive Director. Her high calibre expertise as Audit Chair,
together with her extensive experience, in particular focussing on
investment companies and wider financial services, will be hugely
valuable to the Company, and we look forward to working with
her."
ENQUIRIES
Alternative Income REIT PLC via Maitland/AMO below
Alan Sippetts - Chairman
M7 Real Estate Ltd
Richard Croft +44 (0)20 3657 5500
Panmure Gordon (UK) Limited +44 (0)20 7886 2500
Alex Collins
Tom Scrivens
Chloe Ponsonby
Maitland/AMO (Communications Adviser) +44(0) 7747 113 930
James Benjamin james.benjamin@maitland.co.uk
The Company's LEI is 213800MPBIJS12Q88F71.
Further information on Alternative Income REIT plc is available
at www.alternativeincomereit.com (1)
NOTES
Alternative Income REIT PLC aims to generate a sustainable,
secure and attractive income return for shareholders from a
diversified portfolio of UK property investments, predominately in
alternative and specialist sectors. The majority of the assets in
the Group's portfolio are let on long leases which contain
inflation linked rent review provisions.
The Company's investment adviser is M7 Real Estate Limited
("M7"). M7 is a leading specialist in the pan-European, regional,
multi-tenanted real estate market. Majority owned by its senior
managers, it has over 200 employees in 14 countries across Europe.
The team manages over 835 properties with a value of circa EUR5.1
billion.
1 Neither the content of the Company's website, nor the content
on any website accessible from hyperlinks on its website or any
other website, is incorporated into, or forms part of, this
announcement nor, unless previously published on a Regulatory
Information Service, should any such content be relied upon in
reaching a decision as to whether or not to acquire, continue to
hold, or dispose of, securities in the Company.
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END
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