5 Jun 2019 15:30
STENPROP LIMITED
(Registered in Guernsey)
(Registration number 64865)
LSE share code: STP JSE share code: STP
ISIN: GG00BFWMR296
("Stenprop" or the "Company")
APPOINTMENT OF INTERIM CHIEF FINANCIAL OFFICER
5 June 2019
Stenprop, the UK multi-let industrial property investor, announces that James Beaumont has been appointed as interim Chief Financial Officer ("CFO") and joins the board with immediate effect following Patsy Watson's resignation.
As stated in the announcement on 6 February 2019, current CFO Patsy Watson indicated her intention to retire from her role as CFO during 2019. She will remain on the board as a non-executive director.
James has been a part of the senior management team since joining Stenprop in June 2015 as Head of Finance, with responsibility for all aspects of finance, financial control, tax, accounting and reporting for the Company. He previously spent five years as finance director of alternative asset funds at Shore Capital. Before that, he had eight years of experience in European real estate and financial services through finance roles at Cambridge Place Investment Management and Genworth Plc, a Fortune 500 company. He qualified as a chartered accountant in 2002.
Paul Arenson, CEO, said: "James has been Head of Finance at Stenprop since 2015. He is a valued member of the finance team and we have full confidence that he will prove to be an excellent CFO and board member of Stenprop".
"We wish to thank Patsy for her outstanding commitment to the business. Patsy has been a crucial member of the team on the Stenprop journey and leaves at a time when Stenprop is well positioned for future success. We have worked together for 12 years and she has been an outstanding CFO. We are delighted that she will be remaining with Stenprop as a non-executive. There is no doubt that she will still have an enormous amount to contribute".
For further information:
Stenprop Limited +44(0)20 3918 6600
Paul Arenson
Julian Carey
James Beaumont
Numis Securities Limited (Financial Adviser) +44(0)20 7260 1000
Hugh Jonathan
Vicki Paine
Tavistock (PR Adviser) +44(0)20 7920 3150
James Whitmore
James Verstringhe
Charlotte Dale
Java Capital +27 (0)11 722 3050
(JSE sponsor)
About Stenprop:
Stenprop is a Guernsey-registered UK REIT. The objective of the Company is to deliver sustainable growing income to its investors. Stenprop's investment policy is to invest in a diversified portfolio of UK multi-let industrial (MLI) properties with the strategic goal of becoming the leading MLI business in the UK. For further information, go to www.stenprop.com.