Investment Advisor Update
6 September 2023
LXi REIT plc
(the "Company" or the "Group")
INVESTMENT ADVISOR UPDATE
Further to the Company's announcement on 17 July 2023, the Board of LXi REIT (ticker: LXI), the specialist inflation-protected long income REIT, is pleased to announce that the Company's Investment Advisor, LXI REIT Advisors Limited, has appointed Alex MacEachin as Chief Financial Officer ("CFO"), replacing Freddie Brooks, whose resignation became effective on 3 September 2023.
Alex is a chartered accountant, having trained and practised at BDO LLP, with extensive experience in property and construction finance and accounting matters, including as Group Financial Controller of Empiric Student Property PLC, the London Stock Exchange listed owner and operator of student accommodation. Alex was appointed as Finance Director of the Company's Investment Advisor in February 2023, as part of its continuing investment in resource and following the successful merger and integration with Secure Income REIT.
For the remainder of the calendar year, as previously announced, Freddie will continue to work as a consultant to the Investment Advisor in order to help ensure a smooth transition and orderly handover, and he will continue to advise the Investment Advisor in respect of the Company's finance and reporting functions.
FOR FURTHER INFORMATION, PLEASE CONTACT:
LXI REIT Advisors Limited
Simon Lee (Partner, Fund Manager)
John White (Partner, Fund Manager)
Alex MacEachin (CFO)
Via H/Advisors Maitland
Bronson Albery / Tom Macdonald / Dion Miceli
020 7623 2323
Tom Yeadon / Ed Matthews / Rishi Bhuchar
020 7029 8000
H/Advisors Maitland (Communications Advisor)
James Benjamin / Rachel Cohen
07747 113 930 / 020 7379 5151
The Company's LEI is: 2138008YZGXOKAXQVI45
LXI REIT plc invests in commercial property assets predominantly in the UK, let, or pre-let, on long (typically 20 to 30 years to expiry or first break), inflation-linked leases to a wide range of strong tenant covenants across a diverse range of robust property sectors.
The Company may invest in fixed-price forward funded developments, provided they are pre-let to an acceptable tenant and full planning permission is in place. The Company will not undertake any direct development activity nor assume direct development risk.
The Company is targeting a dividend of 6.6 pence per ordinary share for the year which commenced on 1 April 2023*.
The Company, a real estate investment trust ("REIT") incorporated in England and Wales, is listed on the premium listing segment of the Official List of the UK Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in February 2017.
The Company is a constituent of the FTSE 250, EPRA/NAREIT, MSCI and STOXX Europe 600 indices.
Further information on the Company is available at www.lxireit.com
* This is a target and not profit forecast.