LONDON (Alliance News) - Grainger PLC said new chief executive Helen Gordon bought her first shares in the residential property company on Monday.
Gordon marked her arrival at the FTSE 250 company by purchasing 53,786 shares at 232.4 pence each, which makes up her entire holding.
The new CEO was appointed in June last year and takes over from incumbent Andrew Cunningham, who is to retire at the annual general meeting on February 10.
Gordon moved from her role as the global head of real estate asset management at The Royal Bank of Scotland Group PLC and is the former property director of Legal & General Investment Management, the investment arm of FTSE 100 insurer Legal & General Group PLC.
Grainger on Monday said it has acquired the Clippers Quay property in Salford Quays, near Manchester, for GBP98.7 million to boost its private rented sector portfolio.
The company, which last week outlined plans to sell its non-core businesses and focus on the private rented sector, said the new property will deliver 600 new homes, along with further commercial space. Once fully let, it should deliver more than GBP7.5 million in gross rent per year, Grainger said.
Grainger will release a first quarter trading statement next Thursday.
The stock was up 0.6% at 232.00p Monday.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
Copyright 2016 Alliance News Limited. All Rights Reserved.
Legal & General (LGEN)
Grainger plc (GRI)
