News Release

Director remuneration and supporting the Trussell Trust

22 April 2020
Trussell Trust and NRR corporate charity partnership

As an owner and operator of community assets throughout the UK, NewRiver has experienced first-hand the very significant impact that the Coronavirus (COVID-19) pandemic has had on people across the country. NewRiver has also seen the extraordinary contributions made by our teams, customers, occupiers, advisers, and other stakeholders, to support those who are most in need.

In recognition of these circumstances, NewRiver is today announcing that its Board of Directors will be waiving 20% of their base salaries or fees for three months effective from 1 May 2020, which will be donated to NewRiver's corporate charity partner, the Trussell Trust. The Trussell Trust's vital work supports over 1,200 food banks across the UK, while campaigning to ensure everyone can afford their own food. As the pandemic unfolds, more people than ever are expected to need a food bank. This donation will help the Trussell Trust continue to support food banks to ensure people in financial crisis are able to access emergency food and support during these challenging times.

NewRiver's partnership with the Trussell Trust began in June 2019, and to date the Company has donated close to £100,000 to support its efforts. In addition, NewRiver staff have volunteered at Trussell Trust sites, food collection points have been installed across NewRiver's shopping centre portfolio, and our assets have been made available for storage, awareness campaigns and volunteer recruitment. In challenging circumstances, the Company continues to work with all its stakeholders to support local causes and communities to ensure our assets meet the needs of the people they serve.

Emma Mackenzie, Head of Asset Management and Head of ESG at NewRiver said; “The way in which businesses, charities and communities are coming together to support each other during this enormously challenging time has been astounding. The work that the Trussell Trust does has always been very important but at a time such as this, that work is even more critical as more families find themselves thrown into immediate poverty. We are delighted that the waived salaries of NewRiver’s Board will provide additional support to the Trussell Trust’s work throughout the UK. We would also like to thank our generous customers who continue to donate to food banks via our shopping centres.”

Emma Revie, Chief Executive at the Trussell Trust said: “We are grateful to NewRiver for our existing active partnership over the past year and we are further overwhelmed by the increasing support from NewRiver in light of the coronavirus outbreak. This level of generosity will help us continue to support our network of food banks to provide the best possible emergency help to people referred at an uncertain time. We’re stronger together and this support will make a real difference to the lives of people in crisis – thank you.”

 
 

Related links:

For further information:                                                  

Tom Loughran, Head of 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, 25 conveniently located retail parks and over 700 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 2.3 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).

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.