12^th December 2022

Primary Health Properties PLC

("PHP" or the "Group")

Succession Planning

Primary Health Properties, one of the UK's leading investors in modern primary healthcare facilities, announces that Harry Hyman, Chief Executive Officer ("CEO"), has expressed his intention to retire as Chief Executive Officer of PHP at its annual general meeting in 2024 ("2024 AGM"). 

This intention is consistent with the comments communicated to the market at the time of the Medicx merger announced in January 2019 that he would commit to managing PHP for a further five years.

PHP will therefore be commencing the search for a new CEO in the New Year and it is expected to be in a position to make an appointment during 2023, with the intention of it taking  effect from the 2024 AGM. 

The search for Harry Hyman's successor will be led by the Chairman, Steven Owen, who, after consultation with a number of the Group's major shareholders and the agreement of the Board, will, subject to shareholder approval at the 2023 AGM, remain as Chairman until the conclusion of the 2024 AGM in order to deal with the appointment of the new CEO and to ensure an orderly succession.

Steven Owen was appointed as a Non-Executive Director in January 2014 and Chairman in April 2018. Under the UK Corporate Governance Code ("the Code") he will have served nine years by January 2023 and while from this date he will not be considered independent under the provisions of the Code the independent non-executive directors concluded that Steven continues to act independently and that the company will benefit significantly from him leading the CEO succession process. Accordingly, Steven Owen will continue to be Chairman of the Company and the Nomination Committee and a member of the ESG Committee until his proposed retirement at the 2024 AGM.  He will cease to be a member of the Remuneration Committee from 31^st December 2022. 

More information on Primary Health Properties PLC can be found on www.phpgroup.co.uk

Further details:

Legal Entity Identifier: 213800Y5CJHXOATK7X11