The Board of LXi REIT plc (LON:LXI), the specialist inflation-protected very long income REIT, has announced that Jan Etherden, Non-Executive Director of the Company, will retire from the Board effective today, as she continues to reduce her corporate commitments.
Ismat Levin, Non-Executive Director of the Company, will take over as chair of the Management Engagement Committee, effective immediately.
Cyrus Ardalan, Chairman of LXi REIT plc, commented:
“On behalf of the Board, I would like to express my sincere thanks to Jan for her significant and invaluable contribution and commitment to the growth of the Company since its IPO in February 2017 and through our successful merger with Secure Income REIT. She leaves the business with our very best wishes for the future.”
LXI REIT plc invests in UK commercial property assets 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 6.3 pence per ordinary share for the year which commenced on 1 April 2022*.
The Company, a real estate investment trust 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 and MSCI indices.