Unite Group Plc (LON:UTG), the UK’s leading owner, manager and developer of student accommodation, has noted the announcement by CPPIB Holdco of a reduction in its shareholding in Unite to 7% and, consequently, has announced that Thomas Jackson, CPPIB’s nominated Director, will be stepping down from his position as Non-Executive Director of the Company, with effect from today.
Thomas Jackson joined the Board following the Group’s acquisition of Liberty Living from CPPIB in 2019 as part of a relationship agreement between CPPIB and Unite, under which CPPIB was entitled to appoint one Non-Executive Director to the Board while its shareholding exceeded 10%.
Thomas Jackson, CPPIB Managing Director, commented:
“It has been a pleasure to serve on the Unite board since the acquisition of Liberty Living. CPP Investments values its constructive relationship with Unite and remains supportive of its strategic priorities.”
“On behalf of the Board, I would like to thank Tom for his valued contributions and support to the Group as it has evolved its strategy over the past six and a half years. We have benefited significantly from his experience in student accommodation and the wider real estate investment and capital markets.”
