– UK, London – Redefine International P.L.C. (LSE:RDI), the FTSE 250 income focused UK REIT, today announces the appointment of Liz Peace as an independent non-executive director of the Company, with effect from 21 November 2017.
Liz, 65, has over 40 years’ experience working across both the public and private UK real estate sectors. She spent 13 years as CEO of the British Property Federation, the body that represents the interests of the commercial property industry in the UK. More recently Liz was appointed to the board of RPS Group Plc, and has previously been a director of Redrow plc and Morgan Sindall PLC. She also currently acts as Chairman of the Old Oak and Park Royal Development Corporation, amongst other positions on numerous public sector and private bodies.
Greg Clarke, Chairman of RDI commented: – “Liz’s wealth of relevant experience and entrenchment into multiple facets of the real estate sector will further strengthen the expertise of the RDI Board and we expect her insight to be of considerable benefit to the Company as it enters an exciting period of growth and transition.”
About RDI
RDI is a FTSE 250 UK Real Estate Investment Trust (UK-REIT) committed to becoming the UK’s leading income focused REIT. The Company’s income-led business model and strategic priorities are designed to offer shareholders superior, sustainable and growing income returns, with a target growth in underlying earnings per share of 3%-5% across the medium term.
Income sustainability is underpinned by a diversified portfolio and tenant base, with no overreliance on any one sector or tenant, together with an efficient capital structure. The secure and growing income stream is 39% indexed and has a WAULT of 7.4 years to first break (8.5 years to expiry). This is complemented by an average debt maturity of 7.3 years of which over 90% of interest costs are either fixed or capped. The Company is focused on all aspects impacting shareholder distributions and reports one of the lowest cost ratios in the industry whilst maintaining a low cost of debt. All figures as at 31 August 2017.
The Company owns properties independently valued at £1.5bn in the United Kingdom and Germany, Europe’s two largest and most transparent property markets. RDI invests in assets with strong property fundamentals spread across UK shopping centres, UK retail parks, UK offices, UK logistics, UK hotels and German retail.
RDI holds a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange and is included within the FTSE 250, EPRA and GPR indices.
For more information : http://www.redefineinternational.com
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