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News Release

Changes to NewRiver's Pub Senior Leadership Team 

12 June 2019
 
Hawthorn Leisure

Hawthorn Leisure, NewRiver REIT plc’s (“NewRiver” or the “Company”) community pub operating platform, announces that Gerry Carroll, CEO of Hawthorn Leisure has decided to step down from his role with effect from 1 October 2019. Gerry will continue to serve on the NewRiver Pub REIT Board, a subsidiary of NewRiver REIT plc, as a Non-Executive Director.

Mark Davies, Executive Chairman of Hawthorn Leisure will become Chief Executive Officer of Hawthorn Leisure. Mark already has main Board executive responsibilities for the Company’s pub portfolio which represented 21% of total assets by valuation as at 31 March 2019, and will continue in his role as Chief Financial Officer of NewRiver REIT plc.

NewRiver acquired Hawthorn Leisure for £106.8 million in May 2018 and the Company’s pub portfolio now totals over 650 community pubs, positioning the business as one of the largest owners of UK community pubs, with the ambition to grow in a sector that continues to present opportunities.

Commenting on the changes, Mark Davies said: “Gerry has achieved significant success in establishing Hawthorn Leisure as a market leading pub platform and adeptly oversaw the sale of the business from Avenue Capital to NewRiver. I would like to thank Gerry for his expert contribution to the business thus far and we are delighted that the Company will continue to benefit from Gerry’s expertise and sector knowledge in his new role as a Non-Executive Director.”

Gerry Carroll said: “Having successfully grown Hawthorn Leisure and overseen the operational integration of the pub portfolios over the last 18 months, I have decided that the time is appropriate for me to step down as CEO. The business is in excellent shape, with a first-class team, including key members from the original management team and I very much looking forward to supporting the business in the future in a non-executive capacity.”

ENDS

 

Related links:

For further information:                                                  

Tom Loughran, Investor Relations (NewRiver)
+44 (0)20 3328 5800

Lucy Mitchell, Director of Communications & PR (NewRiver)                       
+44 (0)20 3328 5800     

Gordon Simpson/James Thompson (Finsbury)                                                 
+44 (0)20 7251 3801


About NewRiver

NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust specialising in buying, managing, developing and recycling convenience-led, community-focused retail and leisure assets throughout the UK.

Our £1.3 billion portfolio covers over 9 million sq ft and comprises 33 community shopping centres, 23 conveniently located retail parks and over 650 community pubs. Having hand-picked our assets since NewRiver was founded in 2009, we have deliberately focused on the fastest growing and most sustainable sub-sectors of the UK retail market, with grocery, convenience stores, value clothing, health & beauty and discounters forming the core of our retail portfolio. This focus, combined with our affordable rents and desirable locations, delivers sustainable and growing returns for our shareholders, while our active approach to asset management and inbuilt 1.9 million sq ft development pipeline provide further opportunities to extract value from our portfolio.

NewRiver has a Premium Listing on the Main Market of the London Stock Exchange (ticker: NRR) and is a constituent of the FTSE 250 and EPRA indices.

NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust specialising in buying, managing, developing and recycling convenience-led, community-focused retail and leisure assets throughout the UK.

 

Our £1.3 billion portfolio covers over 9 million sq ft and comprises 33 community shopping centres, 23 conveniently located retail parks and over 650 community pubs. Having hand-picked our assets since NewRiver was founded in 2009, we have deliberately focused on the fastest growing and most sustainable sub-sectors of the UK retail market, with grocery, convenience stores, value clothing, health & beauty and discounters forming the core of our retail portfolio. This focus, combined with our affordable rents and desirable locations, delivers sustainable and growing returns for our shareholders, while our active approach to asset management and inbuilt 1.9 million sq ft development pipeline provide further opportunities to extract value from our portfolio.

 

NewRiver has a Premium Listing on the Main Market of the London Stock Exchange (ticker: NRR) and is a constituent of the FTSE 250 and EPRA indices. Visit www.nrr.co.uk for further information.

NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust specialising in buying, managing, developing and recycling convenience-led, community-focused retail and leisure assets throughout the UK.

 

Our £1.3 billion portfolio covers over 9 million sq ft and comprises 33 community shopping centres, 23 conveniently located retail parks and over 650 community pubs. Having hand-picked our assets since NewRiver was founded in 2009, we have deliberately focused on the fastest growing and most sustainable sub-sectors of the UK retail market, with grocery, convenience stores, value clothing, health & beauty and discounters forming the core of our retail portfolio. This focus, combined with our affordable rents and desirable locations, delivers sustainable and growing returns for our shareholders, while our active approach to asset management and inbuilt 1.9 million sq ft development pipeline provide further opportunities to extract value from our portfolio.

 

NewRiver has a Premium Listing on the Main Market of the London Stock Exchange (ticker: NRR) and is a constituent of the FTSE 250 and EPRA indices. Visit www.nrr.co.uk for further information.