Custodian REIT plc : Board Changes

16 December 2020

Custodian REIT plc

("Custodian REIT" or "the Company")

Board Changes

Custodian REIT (LSE: CREI), the UK property investment company, announces that, after nearly seven years of service, Professor Barry Gilbertson will retire as Senior Independent Non-Executive Director of the Company with effect from 1 January 2021 as part of its Board succession plan.

The Board would like to thank Barry for his significant contribution to the development of the Company since his appointment at IPO in February 2014.

The Board is pleased to announce that from today Matthew Thorne, currently a Non-Executive Director of the Company and Chair of its Audit and Risk Committee, has been appointed Senior Independent Director and that David Hunter, currently Chair of the Company, has been appointed as Chair of the Company's Remuneration and Management Engagement Committees.  As described in the Interim Report the Board has in place a succession plan under which the process to appoint a further Non-Executive Director is underway.

Mattioli Woods plc, owner of Custodian Capital Limited, the Company's discretionary investment manager, is keen to capitalise on Barry's considerable experience and understanding of real estate and Barry will take on the role of Executive Chairman of Custodian Capital Limited with effect from 1 January 2021.  Barry has therefore decided to retire from the Company's Board to ensure it retains a strong majority of independent Directors.

This announcement is made in accordance with LR 9.6.11.

-Ends-

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