Last checked at 2 Dec 2021 11:00
2 December 2021
CAPITAL & REGIONAL PLC ("Capital & Regional" or "the Company" or "the Group")
UK company number 01399411
LSE share code: CAL
ISIN: GB00BL6XZ716
LEI: 21380097W74N9OYF5Z25
DIRECTORATE CHANGE
Capital & Regional, the community shopping centre REIT, advises that Louis Norval has notified the Board of his intention to stand down as a Non-Executive Director during December after 12 years in the position.Louis has been involved with Capital & Regional since the recapitalisation of the group post the global financial crisis in 2009 and played a pivotal role in that transaction, which set the course of the Company to become a focused specialist REIT.Lawrence Hutchings, CEO, of Capital and Regional said: "Louis has made a considerable contribution to Capital & Regional and has been an experienced and informed voice in our boardroom. His experience in retail property and capital markets has been invaluable over the many years of his involvement as a shareholder and board member starting with his role as cornerstone investor in our recapitalisation in 2009. I would like to thank him for his guidance, input, and support, especially during the pandemic, the Growthpoint transaction in 2019 and the recent refocus, restructure and recapitalisation. We wish Louis all the best and look forward to an ongoing relationship as a shareholder in the Company."
David Hunter, Chair of Capital & Regional said: Louis has been a highly supportive shareholder and insightful board member for over a decade and most recently has played his part in the recapitalisation which has set the Company back onto an upwards trendLouis Norval said: "After 12 years on the Capital & Regional Board I have seen many changes in both the UK market and the Company. Following the recent transaction to recapitalise the Company, I believe it is now in a stronger position to take advantage of the opportunity that exists in the sector, with the continued implementation of the community centres strategy, and likewise it is an appropriate time for me to step back to focus on my portfolio of investments. I would like to extend my thanks to the management team, staff and Board for their support and I look forward to watching the Company and team go from strength to strength."
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For further information:
Capital & Regional plc 020 7932 8000
Lawrence Hutchings
Stuart Wetherly
FTI Consulting 020 3727 1000
Richard Sunderland
Claire Turvey
capreg@fticonsulting.com
About Capital & Regional plc:
Capital & Regional is a UK focused retail property REIT specialising in shopping centres that dominate their catchment, serving the non-discretionary and value orientated needs of the local communities. It has a strong track record of delivering value enhancing retail and leisure asset management opportunities across its portfolio of in-town shopping centres.
Capital & Regional owns seven shopping centres in Blackburn, Hemel Hempstead, Ilford, Luton, Maidstone, Walthamstow and Wood Green. Capital & Regional manages these assets through its in-house expert property and asset management platform.
Capital & Regional is listed on the main market of the London Stock Exchange (LSE) and has a secondary listing on the Johannesburg Stock Exchange (JSE)
For further information see capreg.com/