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CAPITAL & COUNTIES PROPERTIES PLC - Board update

Release Date: 19/06/2019 08:00
Code(s): CCO     PDF:  
 
Wrap Text
Board update

Capital & Counties Properties PLC
(Incorporated and registered in the United Kingdom and Wales with registration Number 07145041
and registered in South Africa as an external company with Registration Number 2010/003387/10)
ISIN: GB00B62G9D36
JSE code: CCO
Capital & Counties Properties PLC (the “Company”)

PRESS RELEASE

19 June 2019

                    CAPITAL & COUNTIES PROPERTIES PLC (“Capco”)

                                               Board update

Capital & Counties Properties PLC (“Capco”) announces that Gary Yardley, Managing Director & Chief
Investment Officer, will step down from the Board and leave the Company on 30 June 2019. The roles will
not currently be directly replaced on the Board.

The Company’s Earls Court investments will be led by Mike Hood, Group Development Director (who has
been appointed as Managing Director, Earls Court) as preparations advance for a possible demerger. Mike
joined the Company in 2011, has operational responsibility for Earls Court, including the development
management activities of the ventures with TfL, KFI and Network Rail, and has successfully delivered a
number of significant projects including Lillie Square.

Gary Yardley, Managing Director & Chief Investment Officer, said:
“Capco is a special company with a remarkable investment portfolio and dedicated people. I am proud of
the success we have achieved at Capco and in particular of the exciting and unique opportunity we have
created at Earls Court, a project of significant vision and ambition. I wish Ian, my colleagues and the
business every success for the future, as I take some time out to focus on my other interests and improving
my health.”

Henry Staunton, Chairman, commented:
“Gary is an exceptionally talented real estate professional and has made an enormous contribution to
creating one of the most important development opportunities in London. We are sorry to see him depart
the Company and thank him for his extraordinary efforts over the past 12 years, wishing him good health
and success in the years to come.”

Ian Hawksworth, Chief Executive, added:
“Gary has shown commitment and enthusiasm to both the business and its people and I would like to
extend my personal thanks to him for his significant contribution. We wish him well in his future plans, both
personal and professional. Gary has developed a talented and experienced team at Earls Court and under
Mike’s leadership they will ensure we remain focused on executing our strategy to maximise the potential of
this unique London investment as we prepare for a separation of Covent Garden and Earls Court.”

Enquiries

Capital & Counties Properties PLC
 Ian Hawksworth                       Chief Executive                             +44 (0)20 3214 9188
 Situl Jobanputra                     Chief Financial Officer                     +44 (0)20 3214 9183

Media enquiries
 Sarah Hagan                         Director of Communications                   +44 (0)20 3214 9185
 UK: Tulchan                         Jessica Reid                                 +44 (0)20 7353 4200
 SA: Instinctif                      Frederic Cornet                              +27 (0)11 447 3030

JSE Sponsor
Merrill Lynch South Africa (Pty) Limited


Notes to Editors

About Capital & Counties Properties PLC (Capco)
Capital & Counties Properties PLC is one of the largest investment and development property companies
that specialises in central London real estate and is a constituent of the FTSE-250 Index. Capco's landmark
London estates at Covent Garden and Earls Court were valued at £3.3 billion as at 31 December 2018
(Group share). The company is listed on the London Stock Exchange and the Johannesburg Stock
Exchange. www.capitalandcounties.com




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