MCS.L Regulatory News (MCS)

30 May 2017

McCarthy & Stone plc

Appointment of Chief Operating Officer

McCarthy & Stone (the "Group"), the UK's leading retirement housebuilder, today announces that John Tonkiss will be appointed as the Group's Chief Operating Officer, with effect from 1 June 2017. John was previously National Operations Director at the Group.

Commenting on the appointment, Clive Fenton, Chief Executive Officer of McCarthy & Stone, said:

"We are delighted to announce John's appointment to the role of Chief Operating Officer. John has made an excellent contribution to the Group since joining us in 2014 and becoming a main Board Director in 2015. He has driven our three key initiatives to shorten our working capital cycle and these have had a significant and positive impact on our overall efficiency programme as we seek to deliver our strategic growth targets." 

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Further information about John Tonkiss

John joined McCarthy & Stone in February 2014 and became a Board Director in October 2015. He previously held the roles of Operations Director - North and Business Transformation Director, and became Group National Operations Director in September 2016. He is responsible for the Group's nine operating regions and also leads the improvement change programme to accelerate business growth, enhance customer experience and improve operating performance.

John was previously Chief Executive Officer of Human Recognition Systems, the UK's leading biometric solutions provider. Prior to that, he worked for ten years for the Unite Group, the UK's largest provider of purpose-built student accommodation, becoming Group Chief Operating Officer in 2008. John's earlier career included senior operational management roles at TRW Automotive Electronics, one of the world's largest automotive suppliers and a number of engineering roles at Lucas Automotive Electronics.

For more information, please contact:

McCarthy & Stone, 01202 292480

Clive Fenton, Chief Executive Officer

Rowan Baker, Chief Financial Officer

Paul Teverson, Director of Communications

Powerscourt, 020 7250 1446 / mccarthy-stone@powerscourt-group.com

Justin Griffiths

Nick Dibden

Notes to Editors

About McCarthy & Stone 

McCarthy & Stone is the UK's leading retirement housebuilder with a c.70% share of the owner-occupied market1. The Group has sold over 51,000 properties across more than 1,100 retirement developments since 1977 and is renowned for its focus on the needs of those in later life. It re-joined the Main Market of the London Stock Exchange in November 2015 and re-entered the FTSE 250 following its quarterly review on 21 March 2016.

There is a growing demand for specialist retirement housing, with the number of people aged 85 and over in the UK expected to more than double between 2015 and 2035 from 1.5 million to 3.2 million, and the number of people aged 65 and over expected to increase by more than 50% from 11.6 million to 17.2 million2. According to research by Demos, 1 in 4 over 60s are interested in retirement living3, yet only c.141, 000 units of specialist retirement housing for homeowners have been built4.

The Group has two established product ranges - Retirement Living and Retirement Living Plus (formerly Assisted Living) - which provide one and two bedroom apartments across the country with varying levels of support and care for older homeowners. In late 2014, McCarthy & Stone launched its Ortus Homes product (now known as Lifestyle Living), which is exclusively for the over 55s and those in the earlier stages of retirement who are seeking to downsize for their leisure years. McCarthy & Stone is currently selling apartments in this product range across nine locations, helping the Group to capture a wider share of the active retiree market.

The first Lifestyle Living development at Scarlet Oak in Solihull won the Best Retirement Scheme at the annual Housebuilder Awards in November 2015. At the same awards in November 2016, we were pleased to again receive Best Retirement Scheme for Ramsay Grange and Lyle Court, our combined Retirement Living Plus and Lifestyle Living development in Barnton, Edinburgh, as well as Best Customer Satisfaction Initiative for our approach to ensuring that we deliver a five-star service for our homeowners.

McCarthy & Stone's commitment to quality and customer service continues to be recognised by homeowners. In March 2017, the Group received the full Five Star rating for customer satisfaction from the HBF for the twelfth consecutive year - making it the only UK housebuilder, of any size or type, to achieve this accolade.

www.mccarthyandstonegroup.co.uk 

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1Based on 3,453 registrations of cross-tenure properties specifically designed for the elderly with the NHBC during calendar year 2015, of which 2,672 were registered by McCarthy & Stone

2Population projections by the Office for National Statistics (2014 based)

3Demos - Top of the Ladder (September 2013)

4Independent data provided by Elderly Accommodation Counsel (April 2016)