Last checked at 27 Sep 2021 07:00
27 September 2021
Empiric Student Property plc
("Empiric" or the "Company" or, together with its subsidiaries, the "Group")
NON-EXECUTIVE DIRECTOR CHANGES
Empiric Student Property plc (ticker: ESP), the owner and operator of premium student accommodation across the UK, announces that Martin Ratchford has been appointed to the Board as an Independent Non-Executive Director and Chair of the Audit Committee effective on 1 October 2021, following the conclusion of a comprehensive recruitment process supported by external consultants. After over seven years of service to the Company, Jim Prower will resign as a Director of the Company on the same day as part of a planned succession process.
Martin is a senior finance professional with more than two decades' experience in UK and international real estate gained across the listed, fund and private sectors and across most property asset classes, including student accommodation. Since June 2018, he has held the post of Chief Finance Officer at Frasers Property UK Limited, part of Frasers Property ("Frasers Property"). Frasers Property, listed on the main board of the Singapore Exchange Securities Trading Limited (SGX), is a multi-national company that develops, owns and manages a diverse portfolio of c.£21 billion of real estate across multiple asset classes.
Martin previously held senior finance and leadership roles at The Unite Group PLC, The British Land Company plc and latterly as Finance Director of Real Estate & Funds at Thomas Cook Group plc.
No further information is required to be disclosed pursuant to Listing Rule 9.6.13R.
Mark Pain, Non-Executive Chairman of Empiric Student Property plc, said:
"On behalf of the Board, I would like to thank Jim for the important contribution he has made to Empiric over the past seven years since our IPO in 2014. During this time, Jim has provided valuable insights and supported the financial and operational transformation of the Group. The Board remains grateful for his expertise, commitment and wise counsel, and Jim leaves with our very best wishes for the future.
We are pleased to welcome Martin to the Board. He brings a wealth of invaluable real estate and finance experience in the UK and internationally, and we very much look forward to working closely with him as we continue to drive value enhancing changes in our business and delivering long term shareholder value, which remains top of our agenda."
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Empiric Student Property plc | (via Maitland/AMO below) |
Duncan Garrood (Chief Executive Officer) | |
Lynne Fennah (Chief Financial & Operating Officer) | |
Jefferies International Limited | 020 7029 8000 |
Stuart Klein | |
Tom Yeadon | |
RBC Europe Limited (trading as RBC Capital Markets) | 020 7653 4000 |
Charlie Foster Marcus Jackson | |
Maitland/AMO (Communications Adviser) | 07747 113 930 |
James Benjamin | empiric-maitland@maitland.co.uk |
The Company's LEI is 213800FPF38IBPRFPU87.
Further information on Empiric can be found on the Company's website at www.empiric.co.uk.
Notes:
Empiric Student Property plc is a leading provider and operator of modern, predominantly direct-let, premium student accommodation located in high-demand university towns and cities across the UK. Investing in both operating and development assets, Empiric is a fully integrated operational student property business focused on premium studio-led accommodation managed through its Hello Student® operating platform, that is attractive to affluent growing student segments.
The Company, an internally managed real estate investment trust ("REIT") incorporated in England and Wales, listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in June 2014.