TIDMPRSR
RNS Number : 4824P
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 Tel: 020 3178 6378
Steve Smith, Non-executive Chairman (c/o KTZ Communications)
Sigma PRS Management Ltd Tel: 0333 999 9926
Graham Barnet, Mike McGill
Singer Capital Markets Tel: 020 7496 3000
James Maxwell, Asha Chotai (Investment
Banking)
Alan Geeves, James Waterlow, Sam Greatrex
(Sales)
Jefferies International Limited Tel: +44 (0)20 7029 8000
Gaudi Le Roux, Tom Yeadon, Harry Randall,
Ollie Nott
G10 Capital Limited (part of IQ-EQ) Tel: 0207 397 5450
Paul Cowland
KTZ Communications Tel: 020 3178 6378
Katie Tzouliadis, Robert Morton
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 GBP1bn in a portfolio of high-quality homes for
private rental across the regions, having raised a total of
GBP0.56bn (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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