UK Commercial Property REIT Ltd Appointment of New Chair

 
TIDMUKCM 
 
UK Commercial Property REIT Limited 
 
(an authorised closed-ended investment company incorporated in Guernsey with 
registration number 45387) 
 
LEI Number: 213800JN4FQ1A9G8EU25 
 
(The "Company") 
 
3 JULY 2023 
 
APPOINTMENT OF NEW CHAIR 
 
Further to its announcement on 3 April 2023, the Board of UK Commercial Property 
REIT Limited ("UKCM" or the "Company") (FTSE250, LSE:UKCM) today confirms the 
appointment of Peter Pereira Gray as UKCM's new chair, effective from 31 July 
2023, and the retirement of the incumbent, Ken McCullagh, on the same date. 
 
Peter Pereira Gray, Chair Elect of UKCM, comments: "I would first like to thank 
Ken for his significant contribution and commitment to UKCM over the past ten 
years, and particularly during his term as chair of the Board. In the decade 
since Ken was appointed to the Board, the Company has successfully navigated 
multiple headwinds: Brexit, Covid, the invasion of Ukraine and fundamental 
changes to the property industry driven by structural shifts in society. To 
address these challenges, the Board, expertly led by Ken over the last three 
years, has worked with the investment manager to restructure the Company's asset 
base and adapt it to the future needs of tenants. 
 
"As one of the UK's largest diversified REITs and with a high quality portfolio, 
UKCM is a great business with huge potential. I look forward to working with the 
Board and with abrdn to continue the good work undertaken to date, as we 
continue towards our goal of delivering returns for shareholders." 
 
Ken McCullagh, outgoing Chair, added: "As I hand over to Peter I am pleased that 
UKCM is well placed with a high quality, future fit and far more diversified 
portfolio that can continue to deliver good income returns to shareholders. I 
would like to take this opportunity to thank my fellow board members, the abdrn 
team and all our advisors for all their hard work and support during my tenure. 
Peter is a first class operator and I leave knowing the Company is in good 
hands." 
 
ENDS 
 
For further information please contact: 
 
Richard Sunderland / Emily Smart / Andrew Davis, FTI Consulting 
 
Tel: 020 3727 1000 
 
Email: UKCM@fticonsulting.com 
 
Notes to Editors - UK Commercial Property REIT 
 
UK Commercial Property REIT is a FTSE 250 Real Estate Investment Trust listed on 
the London Stock Exchange. It aims to provide shareholders with an attractive 
level of income together with the potential for capital and income growth from 
investing in and managing a £1.32 billion (as at 31 March 2023) diversified 
portfolio. The portfolio has a strong bias towards prime, institutional quality 
properties and is diversified by location and sector across the UK. 
 
*The Company is managed and advised by abrdn (the Company's appointed AIFM). 
 
Further information on the Company's investment policies, the types of assets in 
which the Company may invest, the markets in which it invests, borrowing limits 
as well as details of its management, administration and depositary arrangements 
can be found in the Company's Annual Report and Investor Disclosure Document. 
The above documents are available on the Company's website www.UKCPREIT.com. 
Paper copies of these documents are available on request, free of charge, via 
the contact details outlined on the website. 
 
Property is a relatively illiquid asset class, the valuation of which is a 
matter of opinion. There is no recognised market for property and there can be 
delays in realising the value of property assets. Investors should be aware that 
past performance is not a guide to future results. The value of investments, and 
the income from them, can go down as well as up, and an investor may get back 
less than the amount invested. 
 
For further information on UK Commercial Property REIT, please visit 
www.UKCPREIT.com. 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END

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July 03, 2023 02:00 ET (06:00 GMT)

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