Directorate Change

RNS Number : 9618D

Londonmetric Property Plc

03 May 2013

 



3 May 2013

LONDONMETRIC PROPERTY PLC

BOARD CHANGE - RETIREMENT OF NON-EXECUTIVE DIRECTOR

LondonMetric Property Plc ("LondonMetric"), the UK REIT recently created through the merger of London & Stamford Property Plc and Metric Property Investments plc, announces that Andrew Huntley, a non-Executive Director and Chairman of the remuneration Committee, has decided not to stand for re-election to the Board after the AGM on 10th July 2013. This follows the successful completion of the merger of London & Stamford Property Plc and Metric Property Investment plc of which Andrew was the Chairman.

In light of this, with immediate effect, Andrew will step down as Chairman of LondonMetric's Remuneration Committee, where he will be succeeded by James Dean.

Patrick Vaughan, Chairman of LondonMetric commented:

"It has been my great pleasure to work with Andrew Huntley over many years, most recently in completing the successful merger between London & Stamford and Metric.  Over the years we have all benefited from Andrew's wealth of experience, his sound judgment of the property market and his wide range of contacts.  Andrew retires from LondonMetric with our very best wishes for the future."

-Ends-

For further information, please contact:

LondonMetric Property Plc

Andrew Jones / Martin McGann

Tel: [phone]

FTI Consulting

Stephanie Highett / Dido Laurimore / Daniel O'Donnell

Tel: [phone]          

Notes to editors:

LondonMetric (ticker: LMP) is a UK REIT admitted on the Official List and to trading on the Main Market of the London Stock Exchange ("LSE") on 28 January 2013 as a result of the merger between London & Stamford Property Plc (LSP) and Metric Property Investments plc (METP).

LondonMetric aims to deliver attractive returns for shareholders through a strategy of increasing income and improving capital values. It invests across the UK in Retail and Distribution properties as well as Greater London real estate opportunities. It employs an occupier-led approach to property investments through opportunistic acquisitions, joint ventures, active asset management and short cycle developments. The asset focus is on properties with enduring occupier appeal providing opportunities to improve both rental values and the security and longevity of income; and limited risk redevelopments with the aim of enhancing shareholder returns.

Further information on LondonMetric is available at www.londonmetric.com.

 

END

 

 

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