27 January 2025
PICTON PROPERTY INCOME
LIMITED
('Picton' or the
'Company')
LEI:
213800RYE59K9CKR4497
Directorate
Change
Picton appoints Francis
Salway as Chair
Picton today announces the
appointment of Francis Salway as its new Chair.
Francis will join the Board in a
non-executive capacity as Chair and Chair of the Nomination
Committee on 1 February 2025, succeeding Lena Wilson, who will step
down from the Board on 31 January 2025, as announced on 4 October
2024.
Francis brings a wealth of property
expertise and experience to the Board. He was Chief Executive of
Land Securities plc, then the country's largest listed commercial
property company, between 2004 and 2012, having joined the board in
2001, and prior to that was Investment Director at Standard Life
Investments.
He is currently a non-executive
director of Watkin Jones plc, the UK's leading residential-for-rent
developer, and a non-executive director of Cadogan Group Limited,
which owns and manages the Cadogan Estate in Chelsea.
Francis was a non-executive director
of Next plc from 2010 to 2021, latterly as Senior Independent
Director. From 2012, he was Chair of Town & Country Housing, a
housing association, and, following its amalgamation with Peabody
in 2019, also a non-executive director of Peabody both until
2021.
Francis Salway said, "I am delighted
to be joining Picton as Chair. The Company has an impressive long
term property performance track record and I look forward to
working with the Board and management team to build on this
success".
Lena Wilson said, "I am proud to
have been part of Picton's story over the last four years and, as a
colleague and a shareholder, wish the Company every success for the
future. I would like to congratulate Francis on his appointment; he
is joining a dedicated and highly effective team and I am confident
his experience and leadership will contribute greatly to this next
chapter".
Michael Morris, Chief Executive,
said: "On behalf of the Board, I would like to give our sincere
thanks to Lena for her leadership, guidance and valued
contribution. We are pleased to welcome Francis to the Picton team
and look forward to working together as we seek to create value for
shareholders. His extensive experience in the property sector and
strategic vision will be invaluable as we seek to take advantage of
opportunities arising from current market conditions".
This announcement is pursuant to
UKLR 6.4.6R of the Financial Conduct Authority's UK Listing Rules.
There are no other details which are required to be disclosed under
UKLR 6.4.8R.
This announcement contains inside
information.
For
further information:
Picton
Kathy Thompson, Company
Secretary
020 7011 9988,
kathy.thompson@picton.co.uk
Tavistock
James Verstringhe
020 7920 3150,
james.verstringhe@tavistock.co.uk
About Picton
Established in 2005, Picton is
listed on the main market of the London Stock Exchange and is a
constituent of a number of EPRA indices including the FTSE EPRA
Nareit Global Index.
Picton owns and actively manages a
£721 million UK commercial property portfolio, invested across 48
assets and with around 350 occupiers (as at 30 September
2024).
Through an occupier focused,
opportunity led approach, Picton aims to be one of the consistently
best performing diversified UK REITs and has delivered upper
quartile outperformance and a consistently higher income return
than the MSCI Quarterly Property Index since
launch.
With a portfolio strategically
positioned to capture income and capital growth, currently weighted
towards the industrial sector, Picton's agile business model
provides flexibility to adapt to evolving market trends over the
long-term.
Picton has a responsible approach to
business and is committed to being net zero carbon by
2040.
For more information please
visit: www.picton.co.uk
ENDS
