4 December 2023
LXi REIT plc
(the "Company", the "Group" or "LXi")
Death of Non-executive Director - John Cartwright
It is with great sadness that the Board of LXi announces that John Cartwright, Non-executive Director, passed away on 28 November 2023. John served on the Company's Board since its IPO in February 2017, bringing a wealth of experience from a distinguished career spanning over 35 years in the real estate and fund management sectors.
His fellow Board members and colleagues within LXi wish to take this opportunity to express their thanks for his significant contribution to the Company and extend their deepest condolences to John's family at this difficult time.
Cyrus Ardalan, Chairman of LXi, commented:
"We are all deeply saddened by the passing of John Cartwright and our condolences and sympathies are very much with his family and loved ones at this terribly difficult time. John was a highly valued and outstanding member of our Board, and he will be hugely missed by all who had the privilege to work with him. On behalf of everyone at LXi, the Board and I wish to take this opportunity to sincerely thank John for his exemplary service, commitment, warmth and great contribution during his time on the Board of LXi."
FOR FURTHER INFORMATION, PLEASE CONTACT:
LXI REIT Advisors Limited
Simon Lee (CEO)
Alex MacEachin (CFO)
Via H/Advisors Maitland
H/Advisors Maitland (Communications Advisor)
James Benjamin / Rachel Cohen
07747 113 930 / 020 7379 5151
The Company's LEI is: 2138008YZGXOKAXQVI45
LXI REIT plc invests in commercial property assets predominantly in the UK, let, or pre-let, on long (typically 20 to 30 years to expiry or first break), inflation-linked leases to a wide range of strong tenant covenants across a diverse range of robust property sectors.
The Company may invest in fixed-price forward funded developments, provided they are pre-let to an acceptable tenant and full planning permission is in place. The Company will not undertake any direct development activity nor assume direct development risk.
The Company is targeting a dividend of 6.6 pence per ordinary share for the year which commenced on 1 April 2023*.
The Company, a real estate investment trust ("REIT") incorporated in England and Wales, is listed on the premium listing segment of the Official List of the UK Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in February 2017.
The Company is a constituent of the FTSE 250, EPRA/NAREIT, MSCI and STOXX Europe 600 indices.
Further information on the Company is available at www.lxireit.com
* This is a target and not profit forecast.