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EMPIRIC STUDENT PROPERTY PLC ANNUAL REPORT & ACCOUNTS 2020 ESP Safe , homely and modern living spaces Strategic Report 001 Highlights 002 Chairman's Statement 004 At a Glance 006 Responding to COVID - 19 008 Our Market 010 Business Model 012 Our Strategy 014 Chief Executive Officer's Review 026 Key Performance Indicators 028 CFO and COO Statement 032 Responsible Business 042 Principal Risks and Uncertainties 043 Going Concern - Viability Statement Governance Report 048 Board of Directors 050 Chairman's Introduction to Corporate Governance and Corporate Governance Statement 056 Nomination Committee Report 057 Audit Committee Report 060 Statement from the Chairman of the Remuneration Committee 062 Remuneration Committee Report 065 Annual Report on Remuneration 071 Directors ' Report 073 Directors ' Responsibilities Financial Statements 074 Independent Auditor's Report 079 Group Statement of Comprehensive Income 080 Group Statement of Financial Position 081 Company Statement of Financial Position 082 Group Statement of Changes in Equity 083 Company Statement of Changes in Equity 084 Group Statement of Cash Flows 085 Notes to the Financial Statements 106 Definitions 108 Company Information and Corporate Advisers