Ground Rents Regulatory News (GRIO)

Ground Rents Income Fund plc (the "Company")

Succession Update

As part of the succession planning activities described in the Company's 2021 Half Year Report, supported by an independent search agency, the Board is pleased to announce the appointment of Katherine Innes Ker and Jane Vessey as independent non-executive directors of the Company with effect from 27 September 2021.

Katherine, an experienced non-executive director, brings broad commercial experience, corporate finance, mortgage lending, house building and residential construction industry experience to the Board.

Katherine is Chair of the Mortgage Advice Bureau plc, Senior Independent Director and Chair of the Remuneration Committee of building products company Forterra plc and non-executive director of the house builder Vistry Group PLC.

Katherine was a non-executive director at Go-Ahead Group PLC until November 2020, a non-executive director of Taylor Wimpey plc from 2001 to 2011, chairing the Remuneration Committee from 2004 to 2011, and non-executive director of Bryant Group plc prior to its acquisition by Taylor Woodrow. She was also a non-executive director at St Modwen Properties PLC from 2010-2013. Other appointments include Gigaclear Limited until 2018 and Colt Telecom Group SA until 2015. Katherine has a degree in Chemistry and a PhD in Molecular Biophysics from Oxford University.

Jane is an experienced fund manager and investment director, with almost twenty years' experience, bringing a professional investor's perspective to the Board. Jane also brings social housing experience to the Board from her role as Vice-Chair of Greenoak Housing Association where she sits on the Finance, Audit and Risk Committee and Assets and New Business Committee, and her previous roles on the boards of two housing associations. She is an independent non-executive director at Northern Trust Global Investments and is Chair of Margetts Fund Management. Jane has chaired or served on various committees within these companies, including Risk and Audit and Remuneration committees.

Jane continues to work in the investment industry providing services to investment management companies including leading training courses at the Investment Association. She is a visiting lecturer at a number of business schools including King's College London and Cranfield School of Management, teaching courses on all aspects of asset management.

Paul Craig has resigned as a non-executive director of the Company, effective 16 September 2021. Paul has been a director of the Company since its initial public offering in 2012.

Barry Gilbertson, Chair of the Company said:

"We are very pleased to welcome Katherine and Jane to the Board. Each brings extensive, relevant experience as we look to continue to make progress addressing the opportunities and challenges faced by the Company.

We are grateful to Paul for his nine years of service to the Company. His insights into the perspective of a professional investor in the real estate investment trust sector have been especially valuable".

Contacts

Schroder Real Estate Investment Management Limited

Nick Montgomery / Matthew Riley

020 7658 6000

Singer Capital Markets (Broker)

James Maxwell / Kailey Aliyar

020 7496 3000

FTI Consulting

Dido Laurimore / Richard Gotla

 020 3727 1000

Appleby Securities (Channel Islands) Limited (Sponsor)

Andrew Weaver

01534 888 777