INTU PROPERTIES PLC - Appointment of Chief Executive

Appointment of Chief Executive

INTU PROPERTIES PLC
(Registration number UK3685527)
ISIN Code:     GB0006834344
JSE Code:    ITU
LEI: 213800JSNTERD5CJZO95

4 APRIL 2019

intu properties plc (“intu” or “the Company”)

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Appointment of Chief Executive

intu, the largest owner and manager of prime shopping centres in the UK, is pleased to announce
the appointment of Matthew Roberts as Chief Executive with effect from Monday 29 April 2019.
Matthew will succeed David Fischel who will be standing down from the Board and leaving intu on
Friday 26 April 2019.

The Board has appointed Matthew following a rigorous search process which included a number of
first-class internal and external candidates. Having been Chief Financial Officer of intu since May
2010, Matthew has excellent real estate and retail experience and detailed knowledge of intu’s
affairs. He is therefore well placed to drive intu’s winning destinations strategy which includes
adapting fast to the changing retail environment, delivering strong underlying individual centre
performance and making smart use of capital, including plans to reduce intu’s debt to assets ratio to
below 50 per cent through disposals, part-disposals and introducing partners to assets. Matthew
has a strong track record at intu of successfully recycling capital, with over £1 billion of assets having
been sold since he joined intu.

Prior to joining intu, Matthew was CFO of Gala Coral from 2004 to 2008, leading the acquisition of
Coral which resulted in the business becoming the UK’s largest private equity owned company at the
time. Prior to this, he was Finance Director of Debenhams, managing the company’s successful IPO
in 1998 and sale in 2003, and also held senior roles at Top Shop/Top Man and The Burton Group.

David has been with the Group since 1985, and Chief Executive since 2001, a period which has
included transformative events such as the demerger of Capital & Counties in 2010, the intu Trafford
Centre transaction in 2011 and the rebranding as intu in 2013. He has played a major role in intu
becoming the UK’s leading owner, developer and manager of large scale regional shopping centres
with £9 billion of assets.

John Strachan, Chairman of intu, said: “David’s substantial contribution to intu’s affairs over many
years has been outstanding and he will be greatly missed by the Board and all of intu’s staff. I would
like to extend my personal gratitude to David for continuing to steer the Group for a longer period
than was originally intended until we had completed our succession process. David will leave intu
with our very best wishes.
Matthew has been an exceptional CFO at intu. This, combined with his extensive and relevant
experience, including his proven expertise in leading strategic transformation projects, means he is
absolutely the right person to lead this business going forward.”

A formal process to recruit a new Chief Financial Officer will commence imminently which will
include external and internal candidates. In the meantime, the position will be filled on a temporary
basis from intu’s Finance team under Matthew’s supervision.

Disclosure required under S430(2B) of the Companies Act 2006 in respect of David’s employment
and remuneration can be found on intu’s website www.intugroup.co.uk. Further information about
Matthew Roberts is set out in the note below.


ENDS


ENQUIRIES:

intu properties plc     Chairman                                 +44 (0) 207 960 1201

Amanda Campbell         Communications Director                  +44 (0) 207 960 1241

Adrian Croft            Head of Investor Relations               +44 (0) 207 960 1212

Public relations

UK:                     Justin Griffiths, Powerscourt            +44 (0) 207 250 1446

SA:                     Frederic Cornet, Instinctif Partners     +27 (0) 114 473 030


JSE Sponsor:

Merrill Lynch South Africa (Pty) Limited


Notes for Editors:

Matthew Roberts

Career: Matthew qualified as a chartered accountant in 1989 and was previously the Finance
Director of Debenhams plc from 1996 to 2003 and Chief Financial Officer of Gala (subsequently Gala
Coral Group) from 2004 to 2008.

Skills and experience: Matthew was part of the team which acquired The Trafford Centre,
Manchester, in the UK’s largest ever single property transaction. He led the establishment of intu’s
Secured Group Structure and further transactions which have raised over £6 billion of leverage. In
January 2016, Matthew also assumed responsibility for intu’s centre-based operations.

Other appointments: Matthew is a non-executive Director and Audit Committee Chairman of
Marston’s PLC.

Date: 04/04/2019 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.