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Appointment of Chairman

26th July 2018

The Board of Empiric Student Property plc (ticker: ESP), the owner and operator of premium student accommodation across the UK, is pleased to announce the appointment of Mark Pain as Non-Executive Chairman of the Group with effect from 1 September 2018. Mark will also chair the Nominations Committee and be a member of the Remuneration Committee of the Company. Stuart Beevor, the current Acting Non-Executive Chairman, will step down from this role and will resume his role of Non-Executive Director of the Company and chairman of the Remuneration Committee.

Mark is a qualified accountant who has extensive experience as an executive and non-executive in a wide range of companies in the real estate, financial services and consumer/leisure sectors. Mark is currently Vice Chairman and Senior Independent Director at Yorkshire Building Society and Chairman of a London based residential property developer, London Square. Mark spent 16 years at Abbey National plc holding senior executive board positions, ultimately Group Finance Director, and was Group Finance Director for five years at Barratt Developments plc.

He has over 10 years' experience across several sectors in previous non-executive board positions, including Ladbrokes Coral Group plc (2015-2018), Aviva Insurance Ltd, the UK regulated entity of Aviva plc (2013-17), Spirit Pub Group plc (2011-2015), Johnston Press plc (2010-2015), Northern Rock (2010-2012) LSL Property Services (2009-2013) and Punch Taverns plc (2007-2012).

Stuart Beevor, Acting Non-Executive Chairman, said:

"Following a very thorough and independent appointment process, the Board has agreed that Mark is the right candidate to become Empiric Student Property's Chairman. We are confident that with Mark's strong financial, customer and shareholder focus and his wealth of board experience, he will make a significant contribution to the future success of the Group."

Mark Pain commented:

"I am delighted to be joining Empiric as Chairman and am very much looking forward to working with Tim, Lynne and the Board at this exciting time in the Company's development. Much has been accomplished but there is still more to be done to drive greater customer focus, improved financial and operational efficiencies and sustainable shareholder value over the short and longer-term."

No further information is required to be disclosed pursuant to Listing Rule 9.6.13.

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The Empiric plc management team has a long track record in the acquisition, development and management of student accommodation assets in the UK.

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