TIDM87ZW

RNS Number : 1869L

Flagship Finance PLC

12 May 2022

RNS

12 May 2022

Flagship announces designate CEO and Chair in partnership talks

bpha, Futures Housing Group and Flagship Group announced today that should the partnership proposal go ahead, the new organisation would be led by David McQuade (Flagship CEO) who has been appointed CEO Designate. Flagship Chair, Peter Hawes has also been appointed Chair Designate for the new organisation with Mike Stevenson (Futures Chair) and Paul Leinster (bpha Chair) appointed Designate Vice Chairs.

The three organisations collectively manage over 60,000 homes in central and east England and are exploring the potential of combining their expertise and capability to enhance the provision of housing and local services in the area.

David McQuade, CEO, Flagship Group and designate CEO for the new organisation said:

"Discussions are progressing very positively on how a new, combined larger organisation can achieve the shared priority of local delivery of enhanced customer service and homes, that will make a difference to more people faster. All three organisations have closely aligned values, vision and ambition for the future."

All three organisations have strong credit ratings - bpha (A+, S&P), Flagship (A2, Moody's) and Futures (A+, S&P), which provides a firm financial foundation for a partnership.

The organisations will continue to share updates as discussions continue with any agreement subject to approval by each housing association's Board.

For further information, please contact David Armstrong, Chief Financial Officer, Flagship Group on 0845 258 6117 / 07876501548

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Issuing entity: Flagship Finance plc

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May 12, 2022 03:00 ET (07:00 GMT)

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