Watkin Jones Regulatory News (WJG)

Watkin Jones plc

('Watkin Jones' or the 'Group')

Appointment of Chief Financial Officer

Watkin Jones today announces that, as part of a managed succession process, Sarah Sergeant, Chief Financial Officer, will step down from the Board in mid-June 2024. The Board is pleased to announce that Simon Jones has been appointed to succeed Sarah. Simon will join Watkin Jones as Chief Financial Officer Designate and as a member of the Board on 21 May 2024 and will work closely with Sarah to ensure a smooth hand over of responsibilities following the publication of the Group's interim results for the six months ended 31 March 2024.

Simon is a highly experienced CFO with a strong track record within the property sector, and with proven commercial and operational expertise. Most recently Simon was CFO at the US majority owned Mapeley Group, the property outsourcing specialist, where his main focus was performance improvement and growth, and latterly its successful divestment. Prior to this he held a number of senior finance roles within, amongst others, Bass PLC (now IHG Group PLC), Hilton and Whitbread PLC. Simon qualified as a chartered accountant with KPMG.

Alan Giddins, Chair of Watkin Jones, said: "I am delighted to welcome Simon to Watkin Jones. He is a very experienced CFO with significant property related experience, which is highly relevant as Watkin Jones continues its recovery and broadens its focus on opportunities within the residential for rent sector.

"I would also like to thank Sarah, on behalf of the Board, for her contribution to Watkin Jones and, in particular, in supporting the business through the challenging market conditions that the Group has experienced over the last 18 months."

Simon Jones, said: " I am very much looking forward to working with Alex and the team at Watkin Jones. The business has a very clear strategy within one of the most attractive parts of the real estate and residential markets, and I look forward to helping deliver on the Group's forward growth plans."

AIM disclosures required under the AIM Rules

Simon David Ainslie Jones is 54 years old. Simon and persons closely associated with him currently hold 8,000 ordinary shares of 1p each in the Company, representing approximately 0.003% of the Company's issued share capital.

Current directorships and those held by Simon within the last five years are as follows: 

The Mapeley Group, whose holding company is a Guernsey-domiciled property services business with some UK domiciled subsidiaries, has been going through a structured value realisation process, which has involved the sale of both corporate entities and underlying assets. In order to effect an orderly close down of corporate entities, from which underlying assets have been sold and liabilities settled, a number of companies within the group have gone through Members Voluntary Liquidation ("MVL") processes. In 2022/2023, the following companies, of which Simon was at the time a director, went through MVL processes: Cannon Capital Developments Limited; Mapeley Abi Provider Limited; Mapeley Columbus II Limited; Mapeley Columbus Properties Limited; Mapeley Investment Group Limited; Mapeley Steps Properties Limited; Ogle Road Developments Limited. In each case, these were solvent liquidations. The MVL processes for Mapeley Estates Limited and Mapeley Steps Contractor Limited are currently ongoing and are expected to be solvent liquidations.

There is no other information that is required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules.

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This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

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Notes to Editors

Watkin Jones is the UK's leading developer and manager of residential for rent, with a focus on the build to rent, student accommodation and affordable housing sectors. The Group has strong relationships with institutional investors, and a reputation for successful, on-time-delivery of high quality developments. Since 1999, Watkin Jones has delivered 48,000 student beds across 143 sites, making it a key player and leader in the UK purpose-built student accommodation market, and is increasingly expanding its operations into the build to rent sector. In addition, Fresh, the Group's specialist accommodation management business, manages over 22,000 student beds and build to rent apartments on behalf of its institutional clients. Watkin Jones has also been responsible for over 80 residential developments, ranging from starter homes to executive housing and apartments.

The Group's competitive advantage lies in its experienced management team and capital-light business model, which enables it to offer an end-to-end solution for investors, delivered entirely in-house with minimal reliance on third parties, across the entire life cycle of an asset.

Watkin Jones was admitted to trading on AIM in March 2016 with the ticker WJG.L. For additional information please visit www.watkinjonesplc.com