Stenprop Limited has converted to a U.K. REIT and appointed three new members to its board with effect from May 1, 2018.
The conversion to a REIT and the appointment of the new board members is part of the company’s strategic change in focus to the U.K. multi-let industrial (MLI) sector. It will retain its primary listing on the JSE. It expects the proposed London Stock Exchange listing to occur in the latter half of June 2018, following the publication of the company’s annual results.
Stenprop has added Julian Carey, the group property director, as executive property director, Richard Grant as non-executive chairman and Philip Holland as non-executive director. At the same time, Stephen Ball, who has served on the board since October 2014, has stepped down as non-executive chairman, and Neil Marais, who has served on the board since October 2014, has stepped down as a director.
