– UK, London – LXI REIT plc (LON: LXI), the specialist inflation-protected long income REIT, today announced the following appointments to its Board, with effect from 13 January 2022:
- Cyrus Ardalan as Chairman Designate, to take over from Stephen Hubbard as Chairman of the Company at a date to be confirmed before the Company’s 2022 Annual General Meeting;
- Hugh Seaborn as the Non-Executive Senior Independent Director Designate, to take over from Colin Smith OBE as Senior Independent Director of the Company at a date to be confirmed before the Company’s 2022 Annual General Meeting; and
- Ismat Levin as a Non-Executive Director of the Company.
All three new Board members will also be appointed as members of the Nomination, Audit, and Management Engagement Committees following their appointment.
These appointments follow the resignations of Stephen Hubbard (Non-Executive Chairman) and Colin Smith OBE (Non-Executive Director and Senior Independent Director).
Stephen Hubbard, Chairman of LXi REIT plc, commented: “On behalf of the Board, I am delighted to welcome Cyrus, Hugh, and Ismat to the Board. They each bring a wealth of high caliber, complementary expertise, and extensive experience that will further strengthen the Board and be hugely valuable to the Company. We very much look forward to working with them.”
About Cyrus Ardalan
Cyrus is a highly experienced international investment banker with well-established corporate governance expertise and successful credentials as chairman. His career in capital markets spans over 40 years during which he has held senior executive and non-executive roles at leading global banks. He is currently the Chairman of the Board at OakNorth Bank and was previously a non-executive director and Chairman of several institutions, including Citigroup Global Markets, the International Finance Facility for Immunisation, and the International Capital Markets Association. Cyrus spent 15 years at Barclays Bank as Vice-Chairman overseeing several areas including the bank’s Public Policy and Government Relations units. Before this, he held a range of senior positions at Paribas and The World Bank.
About Hugh Seaborn CVO
Hugh brings over 35 years of real estate experience. He spent 13 years as a non-executive at TR Property Investment Trust plc, including four years as Chair, and is currently the CEO of Cadogan. He founded and chairs two Business improvement Districts, The Knightsbridge Partnership and The King’s Road Partnership, and is Chair of the Knightsbridge Business Group. Previously, he was CEO of The Portman Estate, and before that Director and Head of Investment Management at CBRE. Formerly, Hugh has been a member of the Council of the Duchy of Lancaster, Chair of the Westminster Property Association, Chair of the Estates Business Group, and a member of the Property Advisory Committee for the Natural History Museum. He is a Chartered Surveyor.
About Ismat Levin
Ismat has 28 years of experience in commercial, international growth, and legal technology-led software industries across NASDAQ-listed and private equity contexts, including as a Board observer. She is currently Vice President and Group General Counsel at Synamedia Limited. Before this, Ismat spent almost 20 years at NDS Group as Vice President and Group General Counsel as it grew from a start-up investment owned by News Corporation to being a NASDAQ listed company for 10 years, to being sold to Cisco Systems, Inc. for $5 billion. Ismat began her career at Dentons LLP.
About LXI REIT plc
LXI REIT plc invests in UK commercial property assets 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 pence per ordinary share for the year which commenced on 1 April 2021 and a dividend of 6.3 pence per ordinary share for the year commencing on 1 April 2022*.
The Company, a real estate investment trust (LON: LXI) incorporated in England and Wales, is listed on the premium listing segment of the Official List of the UK Listing 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, and MSCI indices.
For more information: https://www.lxireit.com/
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