Helical Bar Regulatory News (HLCL)

9 February 2018

HELICAL PLC

('Helical'/ 'the Company')

HELICAL ANNOUNCES CHANGES TO THE BOARD

Helical, one of London's leading property developers, announces that Mike Slade, Non-Executive Chairman, has informed the Board of his intention to step down from his role at the Company's Annual General Meeting in July 2019.

Following notice of his intentions, the Board of Helical appointed an executive search firm to undertake an assessment of both internal and external candidates. As a result of this process it has been concluded that Richard Grant is the most suitable person to act as the future Chairman of the Company and will, with immediate effect, be appointed Deputy Chairman of Helical to ensure a smooth handover process.

Richard Grant joined the Board of Helical as a Non-Executive Director in 2012. He is Chairman of the Audit & Risk Committee and is a member of the Nominations and Remuneration Committees. Richard will continue to serve in these roles alongside his deputy chairmanship. Richard has more than 40 years' experience including as Finance Director of Cadogan Estates Limited and as a corporate finance partner at PwC.

In line with broader Board succession planning, Richard Cotton will succeed Richard Gillingwater, as Senior Independent Director, with immediate effect. Richard Gillingwater will continue to serve the Board in his capacity as Non-Executive Director and Chairman of the Nominations Committee.

Richard Cotton was appointed as a Non-Executive Director of Helical on 1 March 2016 and is a member of the Nominations, Audit & Risk and Remuneration Committees. Richard was formerly head of UK Real Estate at J.P. Morgan Cazenove. Richard is a Non-Executive Director of Big Yellow Group plc and a member of the Commercial Development Advisory Group of Transport for London. He was previously Chairman of Centurion Properties and a Non-Executive Director of Hansteen Holdings plc.

Mike Slade, Chairman, said:

"Richard Grant's financial and governance skills and his specialist knowledge of the real estate sector have added real value to the Board and I am pleased with his appointment as Deputy Chairman and, in due course, Chairman of Helical. His new role provides additional strength in ensuring that the Board operates effectively as it focuses on executing its strategy and meeting its targets. I would like to thank Richard Gillingwater for his support over the years as Senior Independent Director and for overseeing this and past succession changes and I welcome Richard Cotton as his successor in this role."

Richard Gillingwater, Senior Independent Director and Chairman of the Nominations Committee, said:

"Since standing down as Chief Executive in July 2016, Mike Slade has continued to provide the Company with great experience and property knowledge in his role as Non-Executive Chairman. We owe him a great debt and he has our gratitude for all he has done for Helical over the last 34 years. Looking ahead, and speaking for the whole Board, I welcome Richard Grant in his new role as the future Chairman of Helical."

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