RNS Number : 0635A
Home REIT PLC
18 January 2024
 

 

18 January 2024

Home REIT plc

 

("Home REIT" or the "Company")

 

Home REIT appoints Michael O'Donnell as new Independent Non-Executive Chair

The Board of Home REIT plc announces the appointment of Michael O'Donnell to succeed Lynne Fennah as Independent Non-Executive Chair. Michael will become Chair with immediate effect, with Lynne remaining on the Board as a Non-Executive Director to provide continuity. The remaining members of the Board understand that shareholders would like to see a refresh of the Board and so they will step down on publication of the Company's financial results.

 

Michael is currently a Non-Executive Director and chairs the Remuneration Committee of Big Yellow Group PLC, the FTSE 250 self-storage company, having been a member of its board since September 2021. He was previously a Non-Executive Director and Chair of the Remuneration Committee at Helical plc (2011-2019). With a background in private equity and complex restructuring situations, he has chaired numerous businesses in challenging circumstances, several of which have had a significant real estate element. He also has experience in the social care and wider healthcare services sectors, including as Chair of Cygnet Health Care (2013-2014), one of the UK's leading providers of mental healthcare services, overseeing the eventual sale of the business.

 

Lynne Fennah said: "I recognise and share investors' frustration at the events which have unfolded over the last 14 months and the deterioration in the performance of the Company. With a new investment manager in place and the stabilisation of the Company's portfolio and financial position ongoing, now is the right time to step aside. Michael brings extensive restructuring, public company and sector experience together with a strong conviction in taking the business forward."

 

Michael O'Donnell said: "Home REIT continues to face challenges but progress on critical workstreams is now well underway, with the publication of the audited results a key priority. I am committed to protecting the interests of all Home REIT's stakeholders and look forward to meeting with them over the coming months."

 

There are no further items requiring disclosure under Listing Rule 9.6.13 regarding  Michael O'Donnell's appointment.

 

 

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

FTI Consulting (Communications Adviser)

Dido Laurimore

Eve Kirmatzis

Oliver Harrison

HomeREIT@fticonsulting.com

+44 (0)20 3727 1000 

 

The Company's LEI is: 213800A53AOVH3FCGG44.

 

For more information, please visit the Company's website: www.homereituk.com

 

 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
BOAUBOBRSOUAAAR