Karbon Homes Limited Transfer of Engagements update (6919A)

TIDM46GV

RNS Number : 6919A

Karbon Homes Limited

27 September 2022

RNS Announcement - Karbon Homes:

Yorkshire based housing associations confirm transfer of engagements

Board members of two Yorkshire based housing associations, York Housing Association (YHA) and Leeds & Yorkshire Housing Association (LYHA), have confirmed they will join through a transfer of engagements.

The decision follows a thorough consultation process where both organisations sought the views of their colleagues, customers and stakeholders on the proposals. The consultation feedback, combined with a detailed due diligence process, have shaped the final business plan which has now been approved by each board.

The two organisations will now join together in a transfer of engagements that will see them operating as a combined 3,000-home regional subsidiary of northern based housing association Karbon Homes.

The partnership aims to deliver excellent services to customers and to play a key role in shaping places and communities across Yorkshire. The new partnership will create a stronger, more effective organisation, with a continued local approach and understanding of its customer base.

YHA has been a subsidiary of Karbon Homes since 2017 and has already seen the significant benefits of being part of a larger, supportive group with increased investment in YHA's homes and services and a growth of its geography across the wider Yorkshire area . The two organisations have also developed a strong shared culture, values and working relationship.

Following a successful interview process, existing LYHA Chief Executive, Mark Pearson, will take up the role of Managing Director of the new subsidiary. He brings to the role 25 years of knowledge and experience across the housing sector.

Integration plans will now progress with the aim for the combined subsidiary to be in place by December 2022.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACQLFMATMTITBMT

(END) Dow Jones Newswires

September 27, 2022 04:00 ET (08:00 GMT)