Capital & Regional welcomes Panico Theocharides to its Board as Non-Executive Director

– UK, London –  Capital & Regional plc (LON: CAL | JSE: CRP), the UK convenience and community-focused shopping center REIT, today announced the appointment of Panico Theocharides to its Board as a Non-Executive Director effective from 22 February 2023, replacing George Muchanya as one of Growthpoint’s nominees on the Board.

“We welcome Panico Theocharides to our Board. He brings a wealth of complementary experiences and his proven expertise in driving significant business growth will benefit Capital & Regional as we continue to implement our strategy to deliver value for our shareholders. I would also like to take this opportunity to thank George Muchanya for his invaluable contribution to the Company over the last three years since his appointment alongside Growthpoint’s investment.” said Board Chair, David Hunter.

About Panico Theocharides

Panico Theocharides has recently joined Growthpoint as Head of Investments, and has over 20 years of experience in the real estate investment industry, with much of this time focused on the Johannesburg Stock Exchange Listed Real Estate sector. Panico has worked as an independent property consultant for the last five years. Before this, he was Head of Property Advisory, Corporate Finance at Investec in Johannesburg, South Africa, with overall responsibility for the strategic direction and client relationships for the property advisory team within corporate finance.

Panico was the Joint-CEO of Annuity Properties Limited. He helped found and subsequently list the company on the Johannesburg Stock Exchange, in May 2012, when it converted to a Real Estate Investment Trust. Following the listing, Panico led Annuity’s growth strategy, building an attractive portfolio of A-Grade retail and commercial assets, from four properties valued at R486m at the time of listing to 20 properties valued at more than R2 billion within 18 months. In 2014, Annuity was successfully sold to Redefine Properties Limited.

Panico Theocharides said: “Capital & Regional’s strategy of focusing on dominant urban community shopping centers positions it well to both meet the needs of the local neighborhoods it serves and deliver returns for shareholders. I believe the Company is well placed to continue to take advantage of changing retail habits and navigate the UK macro environment. Therefore, I look forward to joining the Board of Capital & Regional and working alongside the ambitious executive team to progress that strategy and drive shareholder returns.”

About Capital & Regional plc

Capital & Regional is a UK-focused retail property REIT specializing in shopping centers that dominate their catchment, serving the non-discretionary and value-orientated needs of the local communities. It has a strong track record of delivering value-enhancing retail and leisure asset management opportunities across its portfolio of in-town shopping centers.

Capital & Regional owns and/or manages seven shopping centers in Hemel Hempstead, Ilford, Luton, Maidstone, Redditch, Walthamstow, and Wood Green. Capital & Regional manages these assets through its in-house expert property and asset management platform.

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