Board Changes

11 April 2016

Specialist Investment Properties plc

 (the "Company" or "SIPP")

Board Changes

The Company is pleased to announce the appointment of two new directors, Elizabeth Lynn Bruce and John Le Poidevin, both of whom join the board as non-executive directors with immediate effect.

The Company also wishes to announce that Derek Short is stepping down as a director of the Company at this time.

Lynn Bruce is a Chartered Accountant (Scotland) having trained at KPMG (London). She was the CFO of Stenham Limited, an international wealth management group, for 11 years where she was also a member of both their risk and audit committees. Prior to that she was the CFO for The Leasing Corporation Limited and Financial Controller at AT&T Capital Europe. Lynn holds various directorships including Shore Capital Group Limited and St Peter Port Capital Limited. She has lived in the Channel Islands for the last 18 years.

John Le Poidevin is a director of International Public Partnerships Limited, Challenger Acquisitions Limited, Market Tech Holdings Limited, Safecharge International Group Limited and Stride Gaming Plc. He is a graduate of Exeter University, a Fellow of the Institute of Chartered Accountants in England and Wales and a former partner of BDO LLP where, as Head of Consumer Markets, he developed an extensive breadth of experience and knowledge across the leisure and retail sectors in the UK and overseas. With his experience as a former audit partner in London, he is well versed in audit, risk and controls, corporate governance and financial reporting. Mr Le Poidevin is a resident of Guernsey. 

David Craine, Director, commented: "I would like to thank Derek for his valuable contribution to and leadership of the Company over the years since inception and particularly with our recent transition. He leaves the Company in a strong position going forward and I wish him well in his future endeavours. I am also very pleased to welcome both Lynn and John to the Board. I believe that they bring new and complementary skills to the board and will provide valuable insight to help the Company continue to grow as we enter another stage of our development."

Ms Elizabeth Lynn Bruce (formerly Ide), aged 55, is, or has been, a director or partner of the following entities within the past five years:

Ms Bruce was a director of Bifrons Limited, Company X (Holdings) Limited, The Independent Financial Group Plc and The Ink Jet Corporation Limited in connection with her employment with The Leasing Corporation Limited. Ms Bruce resigned as a director of Bifrons Limited, Company X (Holdings) Limited, The Independent Financial Group Plc and The Ink Jet Corporation Limited in December 1992. A liquidator was appointed to Company X (Holdings) Limited in April 1993. An administrative receiver was appointed to Bifrons Limited, The Independent Financial Group Plc and The Ink Jet Corporation Limited in June 1993.

Mr John Le Poidevin, aged 45, is, or has been, a director or partner of the following entities within the past five years:

¹It is anticipated that Mr Le Poidevin will be appointed as a director of BH Macro Limited with effect from 24 June 2016

In respect of both John Le Poidevin and Lynn Bruce, there is no further information required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies.

For further information:

Specialist Investment Properties plc

David Craine

+44 (0) 1624 626586

Allenby Capital Limited (Nomad and Broker to the Company)

Simon Clements / David Worlidge / James Thomas

+44 (0) 20 7167 6433