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RNS Number : 5524P

McKay Securities PLC

11 February 2019

McKAY SECURITIES PLC ("the Group" or "McKay")

MCKAY APPOINTS EMPLOYEE REPRESENTATIVE NON-EXECUTIVE DIRECTOR

AND ANNOUNCES OTHER CHANGES IN DIRECTOR ROLES AND RESPONSIBILITIES

McKay Securities PLC, the only UK REIT specialising exclusively in the London and South East office and industrial markets is pleased to announce that Nick Shepherd, an existing Non-Executive Director of the Company, has been appointed to the newly formed role of Employee Representative Non-Executive Director. This appointment is an early adoption of recently announced changes to the Corporate Governance Code, due to come into effect in the Group's reporting period to 31(st) March 2020.

These changes highlight the increasing need to consider the employee voice at Board level and one option suggested by the Code is the designation of a Non-Executive Director as a suitable way to achieve this. Nick joined the Board in January 2015 and currently sits on the Audit & Risk, Nomination and Remuneration Committees, chairing the latter.

In addition, Richard Grainger, the Group's Chairman, will stand down from the Audit and Risk Committee. This follows the Code's removal of the provision enabling Chairs of smaller companies to be a member of Audit Committees in order to reinforce independence.

Both changes will take effect from 1(st) April 2019, and are in line with McKay's best practice corporate governance aspiration.

- ENDS -

11 February 2019

 
 
 
 
 For further information 
  please contact: 
 
 McKay Securities PLC            FTI Consulting 
 Simon Perkins, CEO              Dido Laurimore, Ellie 
                                  Sweeney 
 Giles Salmon, CFO               020 3727 1000 
 01189 502333

About McKay Securities

McKay Securities PLC is a commercial property investment company with Real Estate Investment Trust (REIT) status, listed on the main market of the London Stock Exchange. It specialises in the development and refurbishment of good quality office and industrial buildings within established and proven markets of London and the South East of England. The portfolio, which is valued at over GBP478 million, comprises 33 properties in strong and established areas which deliver diversity in terms of both sector and location.

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.

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