Directorate Changes

RNS Number : 5070L

NewRiver Retail Limited

12 January 2016

 

12 January 2016

NewRiver Retail Limited ("NewRiver")

Directorate Changes

The Board of NewRiver Retail Limited (AIM: NRR), the UK REIT specialising in value-creating retail property investment and active asset management, announces the following Directorate changes in order to further strengthen the Board and ensure its Code-Compliance as part of the Company's preparation for its planned move to a Premium listing on the Main Market in July 2016.  

The Board is delighted to announce the appointment of Alastair Miller FCA, the former Chief Financial Officer of New Look Group ("New Look"), as Non-Executive Director.

Mr Miller, aged 57, is a highly regarded finance professional with significant Main Board experience in retail, online and wider consumer-facing industries. A Chartered Accountant, following a career with BTR plc, Price Waterhouse and then as Group Finance Director of motoring services group RAC, Mr Miller joined fashion retailer New Look as Chief Financial Officer in 2000 and was a key member of the business for 14 years and part of the successful executive team that took the business private in 2004.  

As well as finance, Mr Miller has detailed experience in running property, IT, logistics and e-commerce operations. His property experience is of significant relevance, having been responsible for New Look's retail property strategy, both in the UK and overseas. Mr Miller will be appointed to all Board Committees - Audit, Remuneration and Nomination.

After five years as a Non-Executive Director, Andrew Walker has resigned from the Board to concentrate on his other business interests. Mr Walker joined the Board in November 2010 at the time Forum Partners, a global real estate investment and asset management firm, invested in NewRiver. During his Board tenure, Mr Walker made a significant contribution to the growth and success of NewRiver. 

Nick Sewell has decided to step down from the Board as an Executive Director, in order to focus on NewRiver's growing acquisition and investment strategy. Mr Sewell will remain a full time member of NewRiver's Executive Committee and will continue to play a key role in the future growth of the business.

All of the above Directorate Changes take place with immediate effect.

Paul Roy, Chairman said: "I am delighted to welcome Alastair Miller to the NewRiver Board. He brings a wealth of direct retail experience to a company that already prides itself on being in tune with the interests of its retailers and consumers. Alastair's background and experience in finance and all aspects of the retail sector will be invaluable to the Board going forward.

"I'd also like to take this opportunity to thank both Andrew and Nick for their significant contribution to our Board over many years. Nick will continue to be an essential member of the Executive Committee, responsible for driving growth through the identification and implementation of new acquisition and investment opportunities.

"The Board changes reflect the company's commitment to Code-Compliant status ahead of a move to the main Market which remains on track for July 2016."

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NewRiver Retail Limited  David Lockhart, Chief Executive Mark Davies, Finance Director	Tel: [phone]
Bell Pottinger David Rydell / James Newman / David Bass	Tel: [phone]
Liberum Richard Crawley / Jamie Richards	Tel: [phone]
Peel Hunt LLP Capel Irwin / Hugh Preston	Tel: [phone]

The following information is provided in accordance with paragraph (g) of Schedule 2 of the AIM Rules for Companies.

Alastair Miller holds or has within the last five years held the following directorships and partnerships:

Current directorships:

Westview Capital Limited

Previous directorships or partnerships held in the last five years:

Customer Direct Limited

Fashion Focus Limited

Geometry Properties (TONYPANDY) Limited

Geometry Properties Limited

New Look Card Services Limited

New Look Group Limited

New Look Limited

New Look Overseas Limited

New Look Retailers Limited

New Look Bondco I Limited

New Look Bondo II PLC

New Look Finance Limited

New Look Finance II Limited

New Look Accessories Limited

New Look Logistics Limited

New Look Retail Group Limited

New Look Treasury Limited

Hamperwood Limited

Trintybrook Limited

Pedalgreen Limited

Weymouth Gateway Property Management

Westgate Bournemouth LTD

Vallsar (Trustees) Limited

M. & S. Singh Limited

Retail People Limited

Viva Accessories Limited

Runway London Limited

NL Bowline Limited

There are no other disclosures required in relation to Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies.

About NewRiver

NewRiver Retail Limited is an AIM listed REIT. The Company is a specialist real estate investor, asset manager and developer focused solely on the UK retail sector. At the close of 2014 NewRiver Retail was named Property Company of the Year - Retail & Leisure at the Estates Gazette Awards.

The management team, with over 100 years combined experience in the UK commercial property market, actively engages with retailers, stakeholders and consumers. NewRiver Retail is one of the UK's largest shopping centre owner/managers with assets under management of £1 billion principally comprising 29 UK wide shopping centres, further nationwide retail assets and a portfolio of 359 pubs with retail and mixed-use extension opportunities. The portfolio has 1,440 occupiers, a total of 6.4 million sq. ft., total annual footfall of 126 million and a retail occupancy rate of 96 per cent.

The Company's activities include active and entrepreneurial asset management and risk-controlled development, utilising both its own balance sheet and co-investment joint venture structures.

Founded in 2009, NewRiver has become the UK's leading retail-focused property investment business. The Company's shares were admitted to London's AIM in September of the same year. For more information on NewRiver, please visit www.nrr.co.uk  

 

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