NewRiver REIT
plc
("NewRiver" or the "Company" or the "Group")
Appointment of Independent
Non-Executive Director and Chair Designate
NewRiver is pleased to announce the
appointment of Lynn Fordham as Independent Non-Executive Director,
Chair Designate and a member of the Nomination Committee with
effect from 21 March 2024. Lynn will succeed Baroness Ford OBE as
Non-Executive Chair of the Board and the Nomination Committee when
Baroness Ford steps down from the Board on 30 May 2024.
As previously announced, Baroness
Ford advised the Board that, subject to completion of a search to
appoint her successor and a handover period, she would not seek
re-election at this year's AGM. The Nomination Committee initiated
a search for a new Non-Executive Chair under the leadership of
Alastair Miller, Senior Independent Director.
Lynn Fordham is a highly experienced
Non-Executive Director with wide-ranging experience across a range
of industries and has extensive board level experience gained as an
Executive Director and Non-Executive Director of listed
companies.
Lynn is currently Non-Executive
Director and Audit Committee Chair of NCC Group plc, Caledonia
Investments plc, Domino's Pizza Group plc and Non-Executive
Director of Enfinium Group Ltd. Lynn was previously Non-Executive
Director of VARO Energy and Fuller, Smith & Turner.
Lynn's most recent executive career
was as Managing Partner of Larchpoint Capital LLP, a team of
private equity professionals investing family capital. Prior to
that Lynn was Chief Executive Officer and Executive Director of SVG
Capital plc, the former FTSE 250 listed private equity investment
vehicle. Lynn has also held senior finance roles at Barratt
Developments Plc, BAA Plc and Boots Plc.
In her early career, Lynn trained as
a Chartered Accountant with Peat Marwick and held various Audit,
Risk, Strategy and Finance roles with British American Tobacco,
ED& F Man Group, Chubb, Boots and BAA.
Alastair Miller, Senior Independent Director
commented: "Following the completion
of a thorough process supported by an international executive
search consultancy, we are very pleased to have secured a Chair of
Lynn's calibre. Lynn is a seasoned Plc director with significant
capital markets and finance experience. I'm confident that Lynn
will bring strong strategic leadership and on behalf of the Board I
am delighted to welcome Lynn to NewRiver.
I would also like to thank Baroness
Ford for her leadership of the Board over the last 6 years. She has
made a major contribution to the strategic development of NewRiver
and we extend our very best wishes to Margaret for the
future."
Lynn Fordham, Chair Designate commented:
"I am delighted to be joining the Board of
NewRiver at this stage in its development and look forward to
working with the Board and Allan Lockhart, CEO.
I was attracted to the role of Chair
because of the quality of NewRiver's portfolio and operating
platform, the strength of its balance sheet and the prospect of
increasing shareholder value over the coming years."
Baroness Ford OBE, Outgoing Chair commented:
"It has been a privilege for me to serve as Chair
of the NewRiver Board and I am particularly proud of the successful
execution of the strategic plan.
I congratulate Lynn on her
appointment as my successor. I am confident that under her
leadership of the Board and with Allan Lockhart as CEO, NewRiver
will continue to prosper and deliver value for
shareholders."
Lynn does not currently hold any
shares in the Company. With respect to paragraph 9.6.13 of the
Financial Conduct Authority's Listing Rules, the below details all
directorships held by the director in any other publicly quoted
company at any time in the previous five years:
Current Listed Directorships:
NCC Group plc
Caledonia Investments plc
Domino's Pizza Group Plc
Lynn Fordham was a director of Sole
Realisation Company plc, formerly known as SVG Capital plc ("Sole
Realisation") until 28 June 2017 when Sole Realisation was put into
a solvent members voluntary liquidation. No further information is
required to be disclosed pursuant to Listing Rule 9.6.13 R in
respect of the appointment listed above.
This announcement includes the
information required by Listing Rules 9.6.11 to 9.6.13, and there
is no further information to report under Listing Rule
9.6.13.
For
further information
NewRiver REIT plc
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+44
(0)20 3328 5800
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Allan Lockhart (Chief
Executive)
Will Hobman (Chief Financial
Officer)
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FGS
Global
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+44
(0)20 7251 3801
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Gordon Simpson
James Thompson
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About NewRiver
NewRiver REIT plc ('NewRiver') is a
leading Real Estate Investment Trust specialising in buying,
managing and developing resilient retail assets throughout
the UK.
Our £0.6
billion UK wide portfolio covers 6.4 million sq ft and
comprises 25 community shopping centres and 12 conveniently located
retail parks occupied by tenants predominately focused on essential
goods and services. In addition we manage 18 retail parks and 5
shopping centres on behalf of Capital Partners, taking our total
Assets Under Management to £1.3 billion. Our objective is to own
and manage the most resilient retail portfolio in the UK,
focused on retail parks, core shopping centres, and regeneration
opportunities in order to deliver long-term attractive recurring
income returns and capital growth for our shareholders.
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