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RDI REIT PLC - Change to the board

Release Date: 24/04/2019 14:00
Code(s): RPL     PDF:  
Wrap Text
Change to the board

RDI REIT P.L.C.
("RDI" or the "Company")
(Incorporated in the Isle of Man)
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00BH3JLY32
LEI: 2138006NHZUMMRYQ1745


CHANGE TO THE BOARD


Following Bernie Nackan's retirement from the Board in January 2019, RDI, the income focused UK-REIT,
today announces the appointment of Pieter Prinsloo as a non-executive director of the Company, with
immediate effect. Pieter will represent Redefine Properties Limited, RDI's largest shareholder, on the Board,
alongside Marc Wainer.

Pieter brings with him more than 30 years of experience in property investments, development, management
and finance having held senior positions at Sanlam Properties, Standard Bank Properties and Absa
Commercial Property Finance. He most recently held the post of CEO of Hyprop Investments Limited, a South
African property REIT, before his appointment this year as CEO of Redefine Europe B.V., a subsidiary of
Redefine Properties Limited

No further details are required to be disclosed under the Listing Rule 9.6.13.

For further information:

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

24 April 2019

Note to editors:

About RDI

RDI is a 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
27.0% indexed and has a WAULT of 7.0 years to first break (8.4 years to expiry). This is complemented by
an average debt maturity of 6.7 years of which over 95% 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 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 31 August 2018.

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