Home REIT PLC Directorate Change (0635A)
January 18 2024 - 1:00AM
UK Regulatory
TIDMHOME
RNS Number : 0635A
Home REIT PLC
18 January 2024
18 January 2024
Home REIT plc
("Home REIT" or the "Company")
Home REIT appoints Michael O'Donnell as new Independent
Non-Executive Chair
The Board of Home REIT plc announces the appointment of Michael
O'Donnell to succeed Lynne Fennah as Independent Non-Executive
Chair. Michael will become Chair with immediate effect, with Lynne
remaining on the Board as a Non-Executive Director to provide
continuity. The remaining members of the Board understand that
shareholders would like to see a refresh of the Board and so they
will step down on publication of the Company's financial
results.
Michael is currently a Non-Executive Director and chairs the
Remuneration Committee of Big Yellow Group PLC, the FTSE 250
self-storage company, having been a member of its board since
September 2021. He was previously a Non-Executive Director and
Chair of the Remuneration Committee at Helical plc (2011-2019).
With a background in private equity and complex restructuring
situations, he has chaired numerous businesses in challenging
circumstances, several of which have had a significant real estate
element. He also has experience in the social care and wider
healthcare services sectors, including as Chair of Cygnet Health
Care (2013-2014), one of the UK's leading providers of mental
healthcare services, overseeing the eventual sale of the
business.
Lynne Fennah said: "I recognise and share investors' frustration
at the events which have unfolded over the last 14 months and the
deterioration in the performance of the Company. With a new
investment manager in place and the stabilisation of the Company's
portfolio and financial position ongoing, now is the right time to
step aside. Michael brings extensive restructuring, public company
and sector experience together with a strong conviction in taking
the business forward."
Michael O'Donnell said: "Home REIT continues to face challenges
but progress on critical workstreams is now well underway, with the
publication of the audited results a key priority. I am committed
to protecting the interests of all Home REIT's stakeholders and
look forward to meeting with them over the coming months."
There are no further items requiring disclosure under Listing
Rule 9.6.13 regarding Michael O'Donnell's appointment.
FOR FURTHER INFORMATION, PLEASE CONTACT:
FTI Consulting (Communications HomeREIT@fticonsulting.com
Adviser) +44 (0)20 3727 1000
Dido Laurimore
Eve Kirmatzis
Oliver Harrison
The Company's LEI is: 213800A53AOVH3FCGG44.
For more information, please visit the Company's website:
www.homereituk.com
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END
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