Sirius Real Estate Regulatory News (SRE)

1 June 2020

Sirius Real Estate Limited

("Sirius Real Estate" or the "Company")

Board Changes

In accordance with requirements of the Listing Rule 9.6.11 of the Listing Rules published by the Financial Conduct Authority (the "Listing Rules") and paragraph 3.59(a) of the JSE Limited Listings Requirements, Sirius Real Estate, the leading operator of branded business parks providing conventional space and flexible workspace in Germany, announces the appointment of Caroline Britton and Kelly Cleveland to the Company's Board as independent non-executive directors with effect from 1 June 2020.

Caroline is a Chartered Accountant and was an audit partner at Deloitte LLP from April 2000 to May 2018, having qualified with its predecessor firm Touche Ross & Co. In addition to providing audit and advisory services in the financial services sector, Caroline ran the FTSE 250 Deloitte NextGen CFO programme. Caroline is a non-executive director of Moneysupermarket.com Group PLC and Revolut Limited, at both of which she chairs the audit committees. Caroline will become the Chair of the Company's Audit Committee at the close of the Annual General Meeting to be held on 31 July 2020.

Kelly is a Chartered Accountant having qualified in New Zealand in 2001 at PricewaterhouseCoopers and has worked in real estate in the UK since 2004. She is currently head of investment at British Land Co PLC, the FTSE 100 REIT, where she has worked for more than nine years, including three years in Group strategy. Kelly previously held roles in corporate finance and finance respectively at the Grosvenor Group and Burberry Group plc.

Commenting on the appointment, Andrew Coombs, CEO of Sirius Real Estate, said: "We are delighted to welcome Caroline and Kelly, they bring a combination of both significant real estate and financial experience and we are confident that they will be strong additions to our Board."

The Company also announces that Jill May and Justin Atkinson will be stepping down from the Board at the close of the Company's Annual General Meeting on 31 July 2020, enabling them to focus on their various other roles and further opportunities with other organisations. The Board is very grateful for the expertise they brought to us during a time of significant change.

No further disclosures are required under LR 9.6.13 of the Listing Rules with respect to these appointments.

Neither Caroline Britton nor Kelly Cleveland, nor 'persons closely associated' with either of them, have any beneficial interest in the Company's ordinary shares of no par value. 

ENDS

For further information:

Sirius Real Estate

Andrew Coombs, CEO/Alistair Marks, CFO

Tel: +49 (0)30 285010110

Tavistock (Financial PR)

Jeremy Carey/James Verstringhe

Tel: +44 (0)20 7920 3150/+ 44 (0)7836 734 625

Email: siriusrealestate@tavistock.co.uk

NOTES TO EDITORS

About Sirius Real Estate

Sirius is a property company listed on the main market and premium segment of the London Stock Exchange and the main board of the Johannesburg Stock Exchange. It is a leading operator of branded business parks providing conventional space and flexible workspace in Germany. The Company's core strategy is the acquisition of business parks at attractive yields, the integration of these business parks into its network of sites under the Company's own name as well as offering a range of branded products within those sites, and the reconfiguration and upgrade of existing and vacant space to appeal to the local market, through intensive asset management and investment. The Company's strategy aims to deliver attractive returns for shareholders by increasing rental income and improving cost recoveries and capital values, as well as by enhancing those returns through financing its assets on favourable terms. Once sites are mature and net income and values have been optimised, the Company may take the opportunity to refinance the sites to release capital for investment in new sites or consider the disposal of sites in order to recycle equity into assets which present greater opportunity for the asset management skills of the Company's team.

In July 2019, the Company completed the formation of its Titanium real estate investment joint venture with clients represented by AXA Investment Managers - Real Assets. Titanium was formed through the acquisition by AXA IM - Real Assets, on behalf of its clients, from Sirius, of a 65% stake in five business parks across Germany. Sirius will retain the remaining 35% and will act as operator of the assets, on a fee basis. Subject to suitable investment opportunities, AXA IM - Real Assets and Sirius may consider opportunities to grow the JV's portfolio primarily through the acquisition of larger stabilised business park assets and portfolios of assets with strong tenant profiles and occupancy. Sirius will continue to grow its wholly owned portfolio through acquisitions of more opportunistic assets, where it can capitalise on its asset management expertise to maximise utilisation of the space, grow occupancy and improve quality of the tenants. The strategies have been clearly defined so that the JV does not conflict with Sirius's existing business.

For more information, please visit: www.sirius-real-estate.com

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