McKay Securities PLC CHANGES IN NON-EXECUTIVE DIRECTOR ROLES (5524P)
February 11 2019 - 1:00AM
UK Regulatory
TIDMMCKS
RNS Number : 5524P
McKay Securities PLC
11 February 2019
McKAY SECURITIES PLC ("the Group" or "McKay")
MCKAY APPOINTS EMPLOYEE REPRESENTATIVE NON-EXECUTIVE
DIRECTOR
AND ANNOUNCES OTHER CHANGES IN DIRECTOR ROLES AND
RESPONSIBILITIES
McKay Securities PLC, the only UK REIT specialising exclusively
in the London and South East office and industrial markets is
pleased to announce that Nick Shepherd, an existing Non-Executive
Director of the Company, has been appointed to the newly formed
role of Employee Representative Non-Executive Director. This
appointment is an early adoption of recently announced changes to
the Corporate Governance Code, due to come into effect in the
Group's reporting period to 31(st) March 2020.
These changes highlight the increasing need to consider the
employee voice at Board level and one option suggested by the Code
is the designation of a Non-Executive Director as a suitable way to
achieve this. Nick joined the Board in January 2015 and currently
sits on the Audit & Risk, Nomination and Remuneration
Committees, chairing the latter.
In addition, Richard Grainger, the Group's Chairman, will stand
down from the Audit and Risk Committee. This follows the Code's
removal of the provision enabling Chairs of smaller companies to be
a member of Audit Committees in order to reinforce
independence.
Both changes will take effect from 1(st) April 2019, and are in
line with McKay's best practice corporate governance
aspiration.
- ENDS -
11 February 2019
For further information
please contact:
McKay Securities PLC FTI Consulting
Simon Perkins, CEO Dido Laurimore, Ellie
Sweeney
Giles Salmon, CFO 020 3727 1000
01189 502333
About McKay Securities
McKay Securities PLC is a commercial property investment company
with Real Estate Investment Trust (REIT) status, listed on the main
market of the London Stock Exchange. It specialises in the
development and refurbishment of good quality office and industrial
buildings within established and proven markets of London and the
South East of England. The portfolio, which is valued at over
GBP478 million, comprises 33 properties in strong and established
areas which deliver diversity in terms of both sector and
location.
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END
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