Board and Committee membership update
THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION IN THE UNITED STATES OF AMERICA, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.
30 April 2021
Alternative Income REIT plc
(the "Company" or the "Group")
BOARD AND COMMITTEE MEMBERSHIP UPDATE
The Board of Directors of Alternative Income REIT plc (ticker: AIRE), the owner of a diversified portfolio of UK commercial property assets predominantly let on long leases, is pleased to provide an update on the Company's Committee membership, as follows:
· As previously announced on 4 March 2021, Alan Sippetts will succeed Steve Smith as Non-Executive Chairman of the Board from 1 May 2021.
· Adam C Smith has been appointed as a member of the Audit Committee with effect from 1 May 2021. Jim Prower will remain as the Chairman of the Audit Committee, and Alan Sippetts will remain as a member of the Committee.
· With effect from 1 May 2021, the Management Engagement and Remuneration Committee will be reorganised as the Management Engagement Committee, with decisions related to the Directors' remuneration to be taken by the Board as a whole.
· Adam C Smith will replace Alan Sippetts as Chairman of the reorganised Management Engagement Committee with effect from 1 May 2021, and Jim Prower and Alan Sippetts will also remain as members of the Committee.
ENQUIRIES
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Alternative Income REIT PLC |
via Maitland/AMO below |
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M7 Real Estate Ltd Richard Croft |
+44 (0)20 3657 5500 |
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Panmure Gordon (UK) Limited |
+44 (0)20 7886 2500 |
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Alex Collins |
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Tom Scrivens |
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Chloe Ponsonby |
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Maitland/AMO (Communications Adviser) |
+44(0) 7747 113 930 |
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James Benjamin |
james.benjamin@maitland.co.uk |
The Company's LEI is 213800MPBIJS12Q88F71.
Further information on Alternative Income REIT plc is available at www.alternativeincomereit.com 1
NOTES
Alternative Income REIT PLC aims to generate a sustainable, secure and attractive income return for shareholders from a diversified portfolio of UK property investments, predominately in alternative and specialist sectors. The majority of the assets in the Group's portfolio are let on long leases which contain inflation linked rent review provisions.
The Company's investment adviser is M7 Real Estate Limited ("M7"). M7 is a leading specialist in the pan-European, regional, multi-tenanted real estate market. Majority owned by its senior managers, it has over 200 employees in 14 countries across Europe. The team manages over 835 properties with a value of circa €5.1 billion.
1 Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website or any other website, is incorporated into, or forms part of, this announcement nor, unless previously published on a Regulatory Information Service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.
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