Last checked at 28 Jul 2021 07:00
NewRiver REIT plc
("NewRiver" or the "Company")
Directorate Change
Following our announcement on 26 July that NewRiver had entered into an agreement for the sale of the entire issued share capital of Hawthorn Leisure REIT Limited ("Hawthorn"), NewRiver's community pub business, and as envisaged in the announcement of 14 April 2021, Mark Davies will now relinquish his position as the Company's Chief Financial Officer (CFO) and stand down from the Board with immediate effect.
Mark will remain in his position as Chief Executive Officer of Hawthorn.
Allan Lockhart, Chief Executive Officer, commented: "Mark has made an enormous contribution in helping to grow NewRiver to what it is today, having been with us every step of the way since we first floated on AIM in 2009 with seed capital of just £25 million.
"He has played a pivotal role in helping to shape our strategy and giving NewRiver the financial foundations to successfully pursue it. Mark was instrumental in enabling NewRiver to complete the transition to a fully unsecured balance sheet in 2018, meaning all of our assets are unencumbered.
"Mark has also been a driving force and visionary behind NewRiver's pub strategy which began with us acquiring our first portfolio of 202 pubs from Marston's in 2013, buying Hawthorn five years later and culminating in an agreed sale of our community pub business for £222.3 million this month. On behalf of everyone at NewRiver, we wish Mark the very best for the future and sincerely thank him for everything he has done for the business."
Mark Davies commented: "I have enjoyed the last 12 years at NewRiver where we took an IPO start-up Company to a premium listing on the London Stock Exchange. It has been rewarding and challenging to create a retail REIT with £1 billion of assets and Hawthorn as a market leading pub company, with entrepreneurial spirit, a people-first culture and a focus on community.
"I am very proud of my team and thanks to everyone I have worked with. My time at NewRiver has been unique and rewarding, building two great businesses and leading so many talented people whose commitment, hard work, friendship and loyalty is something for which I will always be grateful. I wish NewRiver every success for the future."
For further information
NewRiver REIT plc |
|
| +44 (0)20 3328 5800 | |||
Allan Lockhart (Chief Executive) |
|
|
| |||
Emily Meara (Head of Investor Relations) |
|
|
| |||
Finsbury |
|
|
|
| ||
Gordon Simpson James Thompson |
|
|
| +44 (0)20 7251 3801 | ||
About NewRiver
NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust specialising in buying, managing and developing essential retail and leisure assets throughout the UK.
Our £1.0 billion portfolio covers 9 million sq ft and comprises 33 community shopping centres, 19 conveniently located retail parks and 674 community pubs. We hand-picked our assets to deliberately focus on occupiers providing essential goods and services, and avoid structurally challenged sub-sectors such as department stores, mid-market fashion and casual dining. This focus, combined with our affordable rents and desirable locations, delivers sustainable and growing returns for our shareholders, while our active approach to asset management and inbuilt 2.6 million sq ft development pipeline provide further opportunities to extract value from our portfolio.
NewRiver has a Premium Listing on the Main Market of the London Stock Exchange (ticker: NRR). Visit www.nrr.co.uk for further information.
LEI Number: 2138004GX1VAUMH66L31