Director remuneration and Trussell Trust support
NewRiver REIT plc
("NewRiver" or the "Company")
Director remuneration and supporting the Trussell Trust
As an owner and operator of community assets throughout the UK, NewRiver has experienced first-hand the very significant impact that the Coronavirus (COVID-19) pandemic has had on people across the country. NewRiver has also seen the extraordinary contributions made by our teams, customers, occupiers, advisers, and other stakeholders, to support those who are most in need.
In recognition of these circumstances, NewRiver is today announcing that its Board of Directors will be waiving 20% of their base salaries or fees for three months effective from 1 May 2020, which will be donated to NewRiver's corporate charity partner, the Trussell Trust. The Trussell Trust's vital work supports over 1,200 food banks across the UK, while campaigning to ensure everyone can afford their own food. As the pandemic unfolds, more people than ever are expected to need a food bank. This donation will help the Trussell Trust continue to support food banks to ensure people in financial crisis are able to access emergency food and support during these challenging times.
NewRiver's partnership with the Trussell Trust began in June 2019, and to date the Company has donated close to £100,000 to support its efforts. In addition, NewRiver staff have volunteered at Trussell Trust sites, food collection points have been installed across NewRiver's shopping centre portfolio, and our assets have been made available for storage, awareness campaigns and volunteer recruitment. In challenging circumstances, the Company continues to work with all its stakeholders to support local causes and communities to ensure our assets meet the needs of the people they serve.
For further information
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NewRiver REIT plc |
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+44 (0)20 3328 5800 |
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Allan Lockhart (Chief Executive) Mark Davies (Chief Financial Officer) |
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Tom Loughran (Head of Investor Relations) |
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About NewRiver
NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust specialising in buying, managing, developing and recycling convenience-led, community-focused retail and leisure assets throughout the UK.
Our £1.3 billion portfolio covers 9 million sq ft and comprises 33 community shopping centres, 25 conveniently located retail parks and over 700 community pubs. Having hand-picked our assets since NewRiver was founded in 2009, we have deliberately focused on the fastest growing and most sustainable sub-sectors of the UK retail market, with grocery, convenience stores, value clothing, health & beauty and discounters forming the core of our retail portfolio. This focus, combined with our affordable rents and desirable locations, delivers sustainable and growing returns for our shareholders over the longer term, while our active approach to asset management and in-built 2.3 million sq ft development pipeline provide further opportunities to extract value from our portfolio.
NewRiver has a Premium Listing on the Main Market of the London Stock Exchange (ticker: NRR). Visit www.nrr.co.uk for further information.
LEI Number: 2138004GX1VAUMH66L31
About the Trussell Trust
· We're here to end the need for food banks in UK.
· We support a UK-wide network of more than 1,200 food bank centres and together we provide emergency food and support to people locked in poverty, and campaign for change to end the need for food banks in the UK.
· Our most recent figures for the number of emergency food supplies provided by our network: https://www.trusselltrust.org/news-and-blog/latest-stats/
· You can read more about our work at trusselltrust.org
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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