IN BRIEF: Urban Logistics REIT proposes new management arrangements
Urban Logistics REIT PLC - London-based property investment company specialising in urban logistics assets - Convenes general meeting on May 11 to put forward proposals for future management arrangements following conclusion of a review. Proposes Logistics Asset Management, which currently provides asset management services to the existing alternative investment fund manager to the firm, PCP2 Ltd, be appointed as the investment adviser to the company and the company's new AIFM. The investment adviser will, from the date of its appointment, be controlled by Richard Moffitt, current chief executive. Further, proposes G10 Capital Ltd succeed PCP2 as the new AIFM to the company. States independent Directors have concluded the proposals provide for both the continuity of the existing management team, principally Richard Moffitt and Christopher Turner, as well as securing a lower cost base going forward. In addition, Mark Johnson has decided to step down from the board following the general meeting while at the same time Jonathan Gray will retire from the board and take up the position of non-executive chair of the investment adviser. Read More