Retirement and appointment of non-independent director

In accordance with Listing Rule 3.20.1(a), NorthWest Healthcare Properties Management Limited (the Manager), the manager of Vital Healthcare Property Trust (Vital), advises the following changes to its Board with effect from 29 June 2021:

1. Retirement of Mr Bernard Crotty as a Non-Independent Director

Mr Crotty has been on the Board of the Manager since 2012, served as President of NorthWest REIT (the Manager’s ultimate parent entity) from 2017 to 2020 and remains a trustee of NorthWest REIT.

2. Appointment of Mr Craig Mitchell as a Non-Independent Director

Mr Mitchell replaces Mr Crotty as NorthWest REIT’s nominee on the Board. He has served as regional CEO of NorthWest for Australia and New Zealand since 2018 and was appointed as President of NorthWest REIT in August 2020. His previous roles include being CEO for one of Australia’s largest private construction groups and COO for one of Australia’s largest listed property groups.

A full biography for Mr Mitchell is appended to the end of this announcement.

NorthWest REIT’s Group CEO and Chairman, Mr Paul Dalla Lana, said “On behalf of NorthWest, we wish Mr. Crotty success in his new endeavours noting his many contributions over the past years.”

The Manager’s Chair, Mr Graham Stuart, said “The Board appreciates Bernard’s service to the Manager and Vital over many years, including ~2 years as its Chairman. During Bernard’s tenure, Vital’s net tangible assets have grown from $1.02 to $2.63 per unit and Vital’s total unitholder returns have averaged 16.1% per annum.

We welcome Craig onto our Board and look forward to him applying his skills and experience to help continue to deliver superior returns for unitholders.”

– ENDS –

ENQUIRIES

Graham Stuart
Independent Chair, NorthWest Healthcare Properties Management Limited
Tel +64 (09) 973 7309 (NZ office), Email enquiry@vhpt.co.nz

Aaron Hockly
Fund Manager, Vital Healthcare Property Trust
Tel 09 973 7301, Email aaron.hockly@nwhreit.com

Change of Director 229kb Download