– UK, London – LXi REIT Plc (LON: LXI), the specialist inflation-protected very long income REIT, today announced the appointment of Patricia Dimond as a Non-Executive Director of the Company with effect from 1 January 2020.
“I am delighted to welcome Patricia to the Board as a Non-Executive Director. She brings over 25 years of senior executive board-level experience in finance and operations roles at large private and publicly listed organisations. This, together with Patricia’s expertise in corporate governance, risk and performance management, will further strengthen our Board and we look forward to working with her,” said Stephen Hubbard, Chairman.
Patricia will also be appointed as a member of the Nomination, Audit and Management Engagement Committees following her appointment.
About Patricia Dimond
Patricia has over 25 years’ experience at senior executive board level finance and operations roles across large private and publicly listed organisations with expertise in corporate governance, risk and performance management. She is a chartered financial analyst, a chartered accountant, holds an MBA from IMD Switzerland and is a McKinsey alumni.
Patricia’s current non-executive roles include Senior Independent Director, chair of the audit and risk of the English National Opera; and investing in early-stage technology with expertise in fintech and consumer/retail. She co-authored the book: ‘Driven to the Brink: Why Corporate Governance, Board leadership and Culture Matter’.
Previous executive roles include COO, Value Retail Management; Intrapreneur, Managing Director, Mothercare Direct, Mothercare PLC/Storehouse; Management Consultant, McKinsey Consultants; Executive Vice President, Chief Financial Officer, L’erin Cosmetics Company; and Accountant in Charge, Deloitte Haskins & Sells.
Previous non-executive roles include MicroLoan Foundation, WDB; Swiss CFA Society, Board Director and Vice President; Heaven’s Luxury Brand, Board Director and advisor; and Humewood House, Board, Vice-Chair.
About LXi REIT Plc
LXI REIT Plc invests in UK commercial property assets let, or pre-let, on very long, inflation-linked leases to a broad range of tenants with strong financial 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 an annual dividend of 5.75 pence per ordinary share, starting from the financial period commenced 1 April 2019, with the potential to grow the dividend in absolute terms through upward-only inflation-protected long-term lease agreements, and is targeting a total NAV return of a minimum of 8 per cent. per annum over the medium term.
The Company, a real estate investment trust incorporated in England and Wales, is listed on the premium listing segment of the Official List of the 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 EPRA/NAREIT and MSCI indices.
For more information: https://www.lxireit.com
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