Internalisation completed and Board appointments

Completion of internalisation and Board appointments

Hibernia REIT plc ("Hibernia") announces that it has completed the internalisation of its management team through the acquisition of the entire issued share capital of Nowlan Property Limited ("NPL") and the shares in the capital of WK Nowlan REIT Management Limited (the "Investment Manager") not held by NPL. 

The net assets of the Investment Manager at completion were €6,451,243 and the net assets of NPL at completion were €478,449: taken together with the Base Fee Initial Consideration of €14,207,317 the Completion Consideration totalled €21,137,009. €8,278,283 of the Completion Consideration is being paid in cash and the remainder will be settled through the issue of 10,933,826 new ordinary shares in Hibernia, for which listing applications will be made shortly to the Irish Stock Exchange and London Stock Exchange.

Kevin Nowlan and Tom Edwards-Moss have joined the Board as Executive Directors with immediate effect.

Pursuant to paragraph 6.6.7 of the Irish Listing Rules (paragraph 9.6.13 of the UK Listing Rules):

(a) Neither Mr Nowlan nor Mr Edwards-Moss has been a director of any publicly quoted company in the last five years; and

(b) There are no details requiring disclosure for Mr Nowlan or Mr Edwards-Moss under paragraph 6.6.7 (2) to (6) of the Irish Listing Rules (paragraph 9.6.13 (2) to (6) of the UK Listing Rules).

Capitalised terms used in this announcement and not otherwise defined shall have the meaning given to them in the Circular.

ENDS

Contacts:

Hibernia REIT plc +353 1 536 9100

Kevin Nowlan, Chief Executive Officer

Tom Edwards-Moss, Chief Financial Officer

Murray Consultants

Doug Keatinge: +353 86 037 4163, [email protected]

Jill Farrelly: +353 87 738 6608, [email protected]

About Hibernia REIT plc

Hibernia REIT plc is an Irish Real Estate Investment Trust ("REIT") and is listed on the Irish and London Stock Exchanges. The principal activity of the Company is to acquire and hold investments in Irish property (primarily commercial property) with a view to maximising shareholder returns.