Directorate Change

RNS Number : 3729D

Safestore Holdings plc

15 September 2008

 



Safestore Holdings plc

('Safestore' or the 'Company')

Board Appointment

The Board of Safestore, the largest self storage retailer in the UK and Paris, is pleased to announce the appointment of Adrian Martin as Non-Executive Director and Chairman of the Audit Committee with effect from 15 September 2008. 

Adrian Martin, aged 58, joins the Safestore Board with a wealth of experience in the professional services sector, which includes 30 years spent with BDO Stoy Hayward where he was Managing Partner. He was responsible for looking after a range of companies with a focus on retail, real estate and wholesale distribution before leaving the firm in 2000. Mr Martin was then appointed Chief Executive of the law firm Reynolds Porter Chamberlain LLP ('RPC') in 2002. He stepped down from this role in January 2008 and currently acts as a Consultant to the firm. 

Mr Martin has significant Non-Executive experience. He served on the Board of Carphone Warehouse Group Plc from 2000 to July 2008. Since 2001, he has been Hon. Treasurer of the Disasters Emergency Committee, the UK national charity that unites humanitarian agencies to provide emergency relief to major overseas disasters. In 2004, he was appointed to the board of M&C Saatchi Plc. In each case he has served as Chairman of the Audit Committee. He has also held other Non-Executive roles in private companies and is a Fellow of the Institute of Chartered Accountants in England and Wales.

Safestore's Chairman, Richard Grainger, said:     

'We are delighted to welcome Adrian to the Board of Safestore. His extensive experience, which is directly relevant to our business, will further strengthen our team and facilitate the execution of our strategy. We look forward to working with him.'

There are no further details requiring disclosure under Listing Rule 9.6.13.

END

For further information, please contact:

Cardew Group                                                                                                T: 020 7930 0777

Nadja Vetter / Sofia Rehman / David Roach

Notes to editors:

 

§        Safestore is the largest self storage provider in the UK and the central Paris region and the second largest in the EU, in terms of number of stores, providing individual, secure self storage space and related services. Over the past four years, the number of stores increased from 24 to 112, 91 of which operate under the 'Safestore' brand in the UK and 21 of which operate under the 'Une Pièce en Plus' brand in France

 

§        The UK is the largest and most established self storage market in Europe. The UK and French markets show lower penetration rates than the US or Australia and, according to the UK Self Storage Association the UK market is expected to grow with a CAGR of 10 to 15 per cent.

 

§        This growth is supported by a number of market trends including: increased workforce mobility, social factors such as high divorce rates and an ageing population, housing stock pressure in the UK and lifestyle trends such as the growth in the home improvement market.

 

§        The Group’s business model is supported by a substantial asset base, strong cashflow and a solid record of earnings which are continuing to grow.

 

END

 

 

BOAMGGMLKZNGRZM