Sigma Capital Group PLC Appointment of Group Chief Financial Officer (1355I)

TIDMSGM

RNS Number : 1355I

Sigma Capital Group PLC

31 March 2020

31 March 2020

AIM: SGM

SIGMA CAPITAL GROUP PLC

("Sigma" or "Group")

The private rented sector ("PRS") and urban regeneration specialist

Board Changes

Appointment of Group Chief Financial Officer

Sigma, the private rented sector, residential development and urban regeneration specialist, is pleased to announce the appointment of Michael ("Mike") McGill to the Board as Group Chief Financial Officer. His appointment takes immediate effect. As well as taking executive responsibility for the overall financial management of the Group and its subsidiaries, Mike will be specifically responsible for financial matters relating to The PRS REIT plc ("REIT"), including leading a dedicated finance team that has been established to support the REIT's ongoing growth. Malcolm Briselden, Finance Director of Sigma, remains in operational charge of Sigma's finance team, working closely with Mike although he steps down from the Board today. Malcolm is focusing on Sigma's activities outside the REIT, including London.

Mike, aged 52 years, has over 20 years of experience in senior financial roles at listed and private companies. He has worked across a range of sectors, including residential property, and has specific expertise in supporting and implementing growth strategies. He was previously Group CFO at Baxters Food Group Limited, the international food processing company, CFO at Lomond Capital, the residential asset management company specialising in the UK private rental sector, and Group Finance Director at Murray International Holdings Limited, the property and metals group.

Mike qualified as a chartered accountant with Coopers & Lybrand in 1991.

Graham Barnet, CEO of Sigma, commented:

"I am very pleased to welcome Mike to the Board as Group Chief Financial Officer. He brings significant additional experience to Sigma that will be invaluable as the Company continues to develop. Mike will have financial oversight of all of our activities, with a particular focus on our delivery for the PRS REIT. Mike has been working with us previously and is therefore well known to the team."

In accordance with Schedule 2(g) of the AIM Rules, Michael Scott McGill (aged 52 years) holds or has held in the past five years the following directorships and partnerships:

 
 Current directorships/partnerships   Past directorships/partnerships 
 MMH ATS2 Limited                          Lomond Capital Partnership LLP 
  Appointed 05/03/10                        01/09/14 - 30/09/15 
 
  Murray Pipework Limited                   Lomond Capital Limited 
  Appointed 05/03/10                        01/09/14 - 30/09/15 
 
  MMH NSS Limited                           Baxters Food Group Limited 
  Appointed 05/03/10                        28/09/16 - 19/04/19 
 
  Murray Group Holdings Limited             W.A. Baxter & Sons (Holdings) 
  Appointed 05/03/10                        Limited 
                                            28/09/16 - 19/04/19 
 
                                            Murray International Holdings 
                                            Limited 
                                            01/05/05 - 22/03/18 
 
                                            Murray Group Management Limited 
                                            10/01/07 - 07/12/17 
 
                                            The Premier Property Group Limited 
                                            26/03/09 - 10/04/19 
 
                                            Charlotte Ventures (Cunning 
                                            Park) Limited 
                                            26/03/14 - 03/11/16 
 
                                            Premier Burrell Limited 
                                            10/05/10 - 29/06/16 
 
                                            Tipton & Mill Steels Limited 
                                            05/03/10 - 11/08/15 
 
                                            Murray Outsourcing Limited 
                                            19/03/10 - 29/06/16 
 
                                            G M Mining Limited 
                                            05/03/10 - 29/06/16 
 
                                            PPG Land Limited 
                                            05/03/10 - 29/06/16 
 
                                            Murray Property Holdings Limited 
                                            05/03/10 - 17/04/18 
                                     ----------------------------------------- 
 

Mike has also been a director or partner of the following companies at the time of, or in the 12 months preceding, such company entering administration or liquidation proceedings:

MMH NSS Limited - Liquidated January 2015, restored on 27 November 2019.

Murray Group Holdings Limited - Liquidated January 2015, finalising paperwork for dissolution

Murray International Holdings Limited - Liquidated January 2015, subsequently dissolved 29 June 2015

Murray Outsourcing Limited - Liquidated January 2015, subsequently dissolved 29 June 2016

Charlotte Ventures (Cunning Park) Limited - Liquidated January 2015, subsequently dissolved 03 March 2016

The Premier Property Group Limited- Liquidated January 2015, subsequently dissolved 10 April 2019

PPG Land Limited- Liquidated January 2015, subsequently dissolved 29 June 2016

Murray Group Management Limited - Liquidated January 2015, subsequently dissolved 07 December 2017

Premier Burrell Limited - Liquidated January 2015, subsequently dissolved 29 June 2016

The above entities all formed part of the Murray International Holdings Limited group of companies.

Mike McGill was appointed interim Chief Financial Officer of Goals Soccer Centres plc, on 18 June 2019, following the identification of material VAT underpayments and accounting irregularities. On 31 October 2019, Goals Soccer Centres plc was sold as part of a pre-pack administration process necessitated by these various financial issues.

Save as set out in this announcement there are no further matters to be disclosed under Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies.

Enquiries:

 
Sigma Capital Group    Graham Barnet, Chief Executive    T: 020 3178 6378 
 plc                                                      (today) 
                                                         T: 0333 999 9926 
 
KTZ Communications     Katie Tzouliadis, Dan Mahoney     T: 020 3178 6378 
 
N+1 Singer             James Maxwell, James Moat,        T: 020 7496 3000 
 (NOMAD and Broker)     Ben Farrow 
 

NOTES TO EDITORS

About Sigma Capital Group plc

( www.sigmacapital.co.uk )

Sigma Capital Group plc ("Sigma") is a private rented sector, residential development, and urban regeneration specialist, with offices in Edinburgh, Manchester and London. Sigma's principal focus is on the delivery of large scale housing schemes for the private rented sector. It has a well-established track record in assisting with property-related regeneration projects in the public sector, acting as a bridge between the public and private sectors. Its subsidiary, Sigma PRS Management Limited, is Investment Adviser to The PRS REIT plc. In April 2019, Sigma launched the Sigma Scottish PRS Fund, the first dedicated vehicle to focus on the creation of new rental homes for families in the private rented sector in Scotland, and in October 2019 Sigma announced the expansion of its build-to-rent activities in London.

About Sigma PRS Management Ltd

Sigma PRS Management Limited is a wholly-owned subsidiary of AIM-quoted Sigma Capital Group plc and is Investment Adviser to The PRS REIT plc. It sources investments and operationally manages the assets of The PRS REIT plc and advises the Alternative Investment Fund Manager ("AIFM") and The PRS REIT plc on a day-to-day basis in accordance with The PRS REIT plc's Investment Policy. The Investment Manager is G10 Capital Limited. Sigma PRS Management Ltd is an appointed representative of G10 Capital Limited, which is authorised and regulated by the Financial Conduct Authority (FRN:648953)

About The PRS REIT plc

(www.theprsreit.com)

The PRS REIT is a closed-ended real estate investment trust established to invest in the Private Rented Sector and to provide shareholders with an attractive level of income together with the potential for capital and income growth. It has raised a total of GBP500m (gross) through its Initial Public Offering, on 31 May 2017, and a subsequent placing in February 2018. Both fundraisings were supported by the UK Government's Homes England with direct investments.

LEI: 21380037Q91HU97WZX58

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.

END

BOAFFFLFVDIIVII

(END) Dow Jones Newswires

March 31, 2020 02:00 ET (06:00 GMT)