TIDMGRIO

RNS Number : 1212O

Ground Rents Income Fund PLC

06 October 2021

Ground Rents Income Fund plc ("GRIO" or "the Company")

Alternative Investment Fund Manager ("AIFM") team changes

The Company announces that James Agar, fund manager for the Ground Rents Income Fund since its IPO in 2012, has stepped down from his role at Schroder Real Estate ("Schroders").

Schroders was appointed as Alternative Investment Fund Manager to the Company in May 2019 with the aim of supporting the Board in dealing with the headwinds facing the sector as well complex legacy issues such as the Beetham Tower litigation. Schroders' appointment included hiring a team of seven people based in Manchester from the previous manager, Brooks Macdonald, which included James Agar and Chris Leek, Deputy Fund Manager.

Following James's departure, Chris Leek assumes day to day responsibility for the GRIO portfolio, reporting to Nick Montgomery, Head of UK Real Estate. Chris will continue to be based in Manchester with the core GRIO team and new hires that are being made by Schroders in its Manchester office. The Board and shareholders continue to benefit from Schroders' wider specialist investment, legal, governance and risk management teams that are supporting the delivery of the strategy, including the recent Beetham Tower disposal.

The Board remains supportive of the Schroders team and its ability to execute the strategy set out in the interim results, which is focussed on delivering improved returns for shareholders in advance of the Company's continuation vote, which is to take place no later than August 2023.

Enquiries:

Schroder Real Estate Investment Management Limited

Nick Montgomery / Matthew Riley / James Lowe / Chris Leek

020 7658 6000

Singer Capital Markets (Broker)

James Maxwell / Kailey Aliyar (Investment Banking)

Sam Greatrex (Sales)

020 7496 3000

Appleby Securities (Channel Islands) Limited (Sponsor)

Andrew Weaver / Chris Smedley

01534 888 777

FTI Consulting

Dido Laurimore / Richard Gotla

0203 727 1000

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCUPGMUUUPGGMA

(END) Dow Jones Newswires

October 06, 2021 02:00 ET (06:00 GMT)

Ground Rents Income (LSE:GRIO)
Historical Stock Chart
From Dec 2021 to Jan 2022 Click Here for more Ground Rents Income Charts.
Ground Rents Income (LSE:GRIO)
Historical Stock Chart
From Jan 2021 to Jan 2022 Click Here for more Ground Rents Income Charts.