Capital & Regional Regulatory News (CAL)

2 June 2015

Capital & Regional plc

Directorate changes

Capital & Regional plc (the "Company" or "Capital & Regional") announces that Neno Haasbroek has resigned as a Non-Executive Director to be replaced by Wessel Hamman, effective immediately.

Having served as a Non-Executive Director of the Company since 2009, Neno Haasbroek is stepping down to focus on his other business interests. Wessel Hamman will replace Neno Haasbroek and serve alongside Louis Norval as a representative of the Parkdev Investors. The Parkdev Investors hold their interests in the Company principally through Karoo Investment Fund, PDI Investment Holdings, Mstead Limited and Pinelake International.

In connection with the Parkdev Investors' acquisition of shares in 2009 and pursuant to the Relationship Agreement that the Parkdev Investors and the Company entered into at that time, the Company agreed to appoint two Non-Executive Directors nominated by Parkdev Investors to the Board, for so long as the Parkdev Investors own 20% or more of the issued ordinary share capital in the Company. As such, Wessel Hamman is not considered independent for the purposes of the UK Corporate Governance Code.

Wessel Hamman is Chief Executive of Clearance Capital LLP, a Real Estate investment management firm which he co-founded in 2008. Wessel is also a Non-Executive Director of Karoo Investment Fund, a connected party of Parkdev Investors and a significant shareholder in the Company. In addition, Wessel serves as a Non-Executive Director of listed European real estate companies and funds Clearance Segura Fund, Sirius Real Estate Limited and European Real Estate Investment Trust Limited. Previously, Wessel performed various senior financial roles at FirstRand Bank Limited, having earlier qualified as a Chartered Accountant at KPMG in South Africa.

This announcement is made pursuant to Listing Rule 9.6.11. In accordance with LR 9.6.15 of the Listing Rules, the Company confirms that there is no information to be disclosed in terms of LR 9.6.13 (2) to LR 9.6.13 (6) inclusive in respect of Wessel Hamman.

John Clare, Chairman, commented:

"On behalf of the Board I would like to thank Neno for the very significant contribution he has made to the Company since 2009. Neno leaves Capital & Regional a business transformed and his support has been critical in shaping strategy and positioning the business for growth."

Hugh Scott-Barrett, Chief Executive, commented:

"Wessel's deep experience and knowledge of Real Estate and property finance will make him a valuable addition to the Board and I very much look forward to working with him during what should be an exciting time for Capital & Regional."

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About Capital & Regional plc

Capital & Regional is a UK focused specialist property REIT with a strong track record of delivering value enhancing retail and leisure asset management opportunities across a c. £1 billion portfolio of in-town dominant community shopping centres.

Capital & Regional owns six Mall shopping centres in Blackburn, Camberley, Luton, Maidstone, Walthamstow and Wood Green. It also has a 20% joint venture interest in the Kingfisher Centre in Redditch and a 50% joint venture in the Buttermarket Centre, Ipswich. Capital & Regional manages these assets, which comprise over 900 retail units and attract c. 1.7 million shopping visits each week, through its in-house expert property and asset management platform.

For further information see www.capreg.com.