UAI.L Regulatory News (UAI)

26 May 2021

U and I Group PLC

("U+I" or "the Company" or "the Group")

Board Changes

U+I (LSE:UAI), the specialist regeneration developer, announces planned changes to its Board.

On 19 January 2021 the Company announced that, together with its executive management changes, the Chairman would review the composition of the Board to ensure that it is the optimal structure for the Group over the short to medium term.

This review is now complete and the following changes are planned:

· Peter Williams, Chairman of the Board, who joined the Company in January 2016, has given notice of his intention to step down from the Board by the end of FY2022. A search for his replacement will commence later this year.

· Nick Thomlinson, Chairman of the Remuneration Committee and Senior Independent Director, having completed his maximum term as an independent non-executive director, will step down from the Board at the conclusion of the AGM in September 2021. Nick joined the Board in January 2012.

· Ros Kerslake, who joined the Board in September 2017 will become Chair of the Remuneration Committee and Senior Independent Director following the AGM. Ros has been a member of that Committee since joining the Board.

· Barry Bennett, a non-independent non-executive director, who joined the Company in May 2014 on the acquisition of the Cathedral Group, has given notice of his intention to step down from the Board by the end of FY2022.

· As a result of these changes, the number of non-executive directors, including the Chairman, will be reduced from six to four, all of whom will be independent.

Peter Williams, Chairman of U+I, said:

"The proposed changes to U+I's Board will complement the executive management changes that we announced at our interim results, supporting a more simplified and focused business. They will be managed as part of an orderly transition over the coming months to ensure the Company has a strong and diverse Board and to provide continuity of support to the Executive team. They will also ensure that the Non-executive Directors have the most relevant skills and scale to support the Executive team in its strategy to deliver socio-economic benefits to communities and sustained shareholder returns going forward."

For further information, please contact: 

U+I

Nicola Krafft

+44 (0)20 7828 4777

ir@uandiplc.com

Camarco (Financial PR Adviser)

Geoffrey Pelham-Lane

+44 7733 124 226

Tom Huddart

+44 7967 521 573

uandi@camarco.co.uk 

LEI number: 213800HTEQQEIOGR5A58

About U+I

U+I are experts in regeneration.

We use our creative, entrepreneurial and master developer knowledge to created thriving mixed-use places in London City Region (within one hour's commute from Central London), Manchester and Dublin. We exist to create long-term socio-economic benefit for the communities in which we work and deliver sustainable returns to our shareholders.

To find out more, visit www.uandiplc.com or follow us @uandiplc