RDI REIT PLC - Changes to the board

Release Date: 25/07/2018 08:00
Code(s): RPL
 
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Changes to the board

RDI REIT P.L.C.
(formerly Redefine International P.L.C.)
(Incorporated in the Isle of Man)
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
LEI: 2138006NHZUMMRYQ1745
ISIN: IM00B8BV8G91
("RDI" or the "Company" or the "Group")


CHANGES TO THE BOARD


Further to the announcement on 15 December 2017, in which Greg Clarke advised of his intention to step down as
Chairman of the Board, RDI, the FTSE 250 income-focused UK-REIT, is pleased to confirm the appointment of Gavin
Tipper as the Company's new Chairman, with effect from 24 July 2018.

Following notice of Greg Clarke's intentions, the Board of RDI appointed an executive search firm to undertake a
comprehensive search for external candidates, and an assessment of both internal and external candidates was performed.
As a result of this process, it was concluded that Gavin Tipper was the most suitable person to act as the future Chairman
of the Company. A long-standing independent non-executive director of RDI, having joined the Board in August 2011,
Gavin Tipper brings significant experience and expertise in relation to corporate governance and stakeholder
engagement to the role, whilst also benefitting from a thorough understanding of the Company's strategic direction and
dual-listed shareholder base.

Gavin Tipper is a Chartered Accountant and former technical partner at KPMG South Africa and holds Bachelor of
Commerce and Accounting degrees, and a Masters degree in Business Administration. He has been involved in the
financial services industry for over 25 years and was Chief Operating Officer for the Coronation Holdings Limited
Group where he spent 10 years. Gavin Tipper is currently Chairman of Hyprop Investments Limited and AVI Limited,
both of which are listed on the JSE.

Michael Farrow, who led the Nominations Committee process, commented:

"Following an extensive selection process, we are very pleased to have appointed Gavin to the role of non-executive
Chairman and believe his strong knowledge of the Company and deep market experience will be of great benefit in
ensuring the Board operates effectively as it focuses on executing its strategy.

"On behalf of the Board I would like to take this opportunity to thank Greg for his leadership of the Board, helping
transform the business into a leading income focused REIT."

Further to the appointment of Gavin Tipper as Chairman, the Board has reviewed the composition of its committees.
The committees will comprise the following members with effect from 24 July 2018: -

 Audit and Risk Committee
 Sue Ford (chair)                 Independent
 Michael Farrow                   Independent
 Elizabeth Peace                  Independent

 Remuneration Committee
 Michael Farrow (chair)           Independent
 Robert Orr                       Independent
 Gavin Tipper                     Independent

 Nominations Committee
 Gavin Tipper (chair)             Independent
 Michael Farrow                   Independent
 Sue Ford                         Independent

 Investment Committee
 Robert Orr (chair)               Independent
 Marc Wainer                      Non-Independent
 Mike Watters                     CEO

 Corporate Social Responsibility Committee
 Elizabeth Peace (chair)      Independent
 Mike Watters                 CEO
 Donald Grant                 Executive
 Adrian Horsburgh             Executive

For further information, please contact:

RDI REIT P.L.C.
Mike Watters, Stephen Oakenfull                                                            Tel: +44 (0) 20 7811 0100

FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey, Ellie Sweeney                                               Tel: +44 (0) 20 3727 1000

Instinctif Partners
SA Public Relations Adviser
Frederic Cornet                                                                             Tel: +27 (0) 11 447 3030

JSE Sponsor
Java Capital                                                                                Tel: + 27 (0) 11 722 3050

25 July 2018

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 25.9% indexed and has
a WAULT of 6.8 years to first break (8.2 years to expiry). This is complemented by an average debt maturity of 7.0
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.

The Company owns properties independently valued at £1.6bn in the United Kingdom and Germany, Europe's two
largest, liquid and transparent property markets. RDI invests in assets with strong property fundamentals spread across
UK offices (including London serviced offices), UK logistics, UK shopping centres, UK retail parks, UK hotels and
German retail. RDI is well placed to take advantage of the increasing occupier requirement for real estate owners to
become high quality service providers, given its scalable operational platforms and nearly a third of the portfolio invested
in hotels and London serviced offices.

RDI holds a primary listing on the London Stock Exchange and a secondary listing on the JSE and is included within
the FTSE 250, EPRA, GPR, JSE All Property and JSE Tradeable Property indices.

For more information on RDI, please refer to the Company's website www.rdireit.com

All figures as at 28 February 2018

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