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RNS Number : 7334U Globalworth Real Estate Inv Ltd 06 December 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
6 December 2021
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
Board Changes
Globalworth, the leading office investor in Central and Eastern Europe,
announces the following changes to the Board.
Appointments of Non-Executive Directors
Pursuant to the rights of CPI Property Group SA and Aroundtown SA (together
the "Consortium"), through their ownership of Zakiono Enterprises Limited, as
set out in the Articles of Incorporation of the Company (the "Articles"), the
following individuals have been appointed to the Board as non-executive
directors with immediate effect:
Andreas Tautscher
Andreas Tautscher is an experienced Financial Services former executive who
now focusses on acting as an independent director for listed and private
funds, as well as other regulated businesses. He is currently a Director and
Chairman of Audit Committee for MJ Hudson PLC, an AIM listed provider of
services to alternative Asset Managers. He also sits on the boards of Doric
Nimrod Air 1, 2 and 3, which are LSE-listed aircraft leasing funds.
From 1994 until 2018, Andreas was a senior executive at Deutsche Bank and was
most recently CEO of Channel Islands and Head of Financial Intermediaries for
EMEA and LATAM. He has experience across the full spectrum of funds, trust and
banking services in most of the major financial centers. He also sat on the UK
Regional Governance Board of Deutsche and the EMEA Wealth Management Exco.
He has also served on local government advisory committees and was for 6 years
a Non-Executive Director on the Board of Virgin Group. Andreas's first career
was in the oil industry as a Geologist before moving to PricewaterhouseCoopers
where he qualified as a Chartered Accountant in 1994.
Piotr Olendski
Piotr Olendski is currently serving as Management Board Member and Chairman of
the supervisory boards of several Polish companies in the renewable energy
sector. Prior to this, he was a Managing Director in PZU SA in charge of
property and casualty corporate insurance and Deputy Chairman of the
Supervisory Board of PZUW SA (a subsidiary of PZU). Prior to PZU, Mr Olendski
worked for 19 years for Deutsche Bank Polska SA, including acting as
Management Board Member responsible for investment banking for 7 years.
Favieli Stelian
Favieli Stelian has over 25 years of international experience in real estate,
renewable energy, business, finance and accounting. Today living in Romania,
he is the Managing Partner of Nofar Energy.
From 2010 until the end of 2021, he has been the CEO of Shikun & Binui
Romania (listed on the stock exchange in Israel). Prior to that, Mr Stelian
was a director or manager of several Israeli companies both in Israel and
Romania. Mr Stelian has a Master's degree in Law from Bar-Ilan University,
specialising in capital funds, intellectual property, international commerce.
He also has a Bachelor's degree in Business Administration and is a certified
public accountant.
Daniel Malkin
Daniel Malkin is an Independent Director and member of the audit committee at
Grand City Properties SA. He is also the co-founder and managing director at
SIMRES Real Estate SARL. Before joining Grand City, Mr Malkin served as an
independent Investment and Fund Manager of fixed income investment funds at
Excellence Investment Bank and he has also served on the board of directors of
several other Luxembourg companies. He holds a BA in Business Administration.
Pursuant to the rights of Growthpoint Properties Limited ("GRT"), as set out
in the Articles, George Muchanya has been re-appointed as a non-executive
Director. Mr Muchanya previously served as a Non-executive Director pursuant
to GRT's rights from 27 February 2017 until 23 April 2020, and since then has
acted as an alternate Director to Norbert Sasse, Non-Executive Director.
Mr Muchanya is Head of Corporate Finance at GRT and is a member of its
Executive Committee. He has 25 years' experience spanning engineering,
management consulting and real estate. George holds a BSc in Engineering from
the University of Natal, MBA from Wales University, a certificate in Corporate
Finance from the London Business School, as well as a leadership certificate
from Harvard Business School.
Directors leaving the Board
It was announced on 28 September 2021 that, pending confirmation of
anticipated changes to Globalworth's Board in order to reflect the
Consortium's majority shareholding in Globalworth, Geoff Miller, John Whittle
and Andreea Petreanu had been re-appointed by the Board for an interim period.
Now that the changes set out above have been implemented, Mr Miller, Mr
Whittle and Ms Petreanu are leaving the Board with immediate effect.
Board Committees
The Committees of the Board will now be composed as follows:
· Nomination Committee: Daniel Malkin (Chair), George Muchanya,
Andreas Tautscher
· Remuneration Committee: Piotr Olendski (Chair), Martin Bartyzal,
Richard van Vliet, Favi Stelian
· Risk Committee: David Maimon (Chair), Richard van Vliet, Martin
Bartyzal, Daniel Malkin
· Audit Committee: Andreas Tautscher (Chair), Daniel Malkin, Richard
van Vliet
· Investment Committee: Favi Stelian (Chair), Piotr Olendski, Norbert
Sasse, Dimitris Raptis, David Maimon
Board Composition
Following the above changes to the Board:
· Martin Bartyzal has been elected as chair of the Board; and
· The Board will comprise one executive director and nine
non-executive directors (of which seven, including the chair, are considered
to be independent in accordance with the UK Corporate Governance Code).
Martin Bartyzal, incoming chair of the Board, commented: "On behalf of the
whole Board, I would like to thank Geoff Miller, John Whittle and Andreea
Petreanu for their many and significant contributions over the years, during
which time Globalworth has grown into the leading real estate company in the
CEE real estate market through its market-leading positions both in Poland and
Romania. I look forward to steering the Company through the next stages of its
evolution."
For further information visit www.globalworth.com (http://www.globalworth.com)
or contact:
Enquiries
Stamatis Sapkas Tel: +40 732 800 000
Deputy Chief Investment Officer
Jefferies (Joint Broker) Tel: +44 20 7029 8000
Stuart Klein
Panmure Gordon (Nominated Adviser and Joint Broker) Tel: +44 20 7886 2500
Alina Vaskina
Additional Information
In accordance with the AIM Rules, the following information required to be
disclosed in relation to each of the directors is set out below. Other than
this information, there is no further information required to be disclosed
under paragraph (g) of Schedule Two of the AIM Rules.
Andreas Tautscher
Full name and age
Andreas Josef Tautscher, aged 55
Current beneficial shareholding in the Group
None
Current directorships
MJ Hudson Advisers Limited
Doric Nimrod Air Finance Alpha Limited
Doric Nimrod Air One Limited
Doric Nimrod Air Two Limited
Doric Nimrod Air Three Limited
BH Global
DNA Alpha Limited
MSN077Limited
MSN090 Limited
MSN105 Limited
MJ Hudson PLC
Brooks Macdonald Asset Management International Limited
Hillview Management Limited
Hillview General Partner HPPF III Limited
RTP Global Partners III GP
Carey Commercial Limited
Carey Trustees Limited
Arolla Partners Guernsey Limited
Former Directorships (previous five years)
Deutsche Bank Mauritius Limited
Deutsche Bank Cayman Limited
Deutsche International Corporate Services Limited
Deutsche International Corporate Services Ireland LTD
Deutsche International Trust Corporation (Mauritius) Ltd
Deutsche Fiduciary Services SA Limited
Altair Partners Limited
Remus Horizons Mgmt Ltd
Remus Horizons PCC Ltd
Deutsche Bank International Limited
Deutsche Bank International Trust Co Cayman Ltd
Daniel Malkin
Full name and age
Daniel Malkin, aged 45
Current beneficial shareholding in the Group
None
Current directorships
Grand City Properties S.A.
SIMRES Real Estate SARL
Former Directorships (previous five years)
Falcon Invest SICAV
Falcon Fund SICAV
Swiss World Invest SICAV
Falcon Multilabel SICAV
Della SARL, Luxembourg
Edge Hamburg 2 SARL
SXB 2 SARL
OVG Cloud SARL
SXB 1 SARL
Edge Hamburg 1 SARL
Favieli Stelian
Full name and age
Favieli Stelian, aged 47
Current beneficial shareholding in the Group
None
Current directorships
Shikun Point Management SRL
Point Development
City Point Development Srl
Grand Mall Investments Srl
Oxford Residence Srl
Aviatei park Development SRL
Former Directorships (previous five years)
None
Piotr Olendski
Full name and age
Piotr Karol Olendski, aged 52
Current beneficial shareholding in the Group
None
Current directorships
Sunrise Energy Sp. z o.o.
OZE Biomar S.A.
Stowarzyszenie przy IV L.O. im. T. Reytana
Former Directorships (previous five years)
Towarzystwo Ubezpieczen Wzajemnych Polski Zaklad Ubezpieczen Wzajemnych
Plus Bank S. A.
Deutsche Bank Polska SA
About Globalworth / Note to Editors:
Globalworth is a listed real estate company active in Central and Eastern
Europe, quoted on the AIM-segment of the London Stock Exchange. It has become
the pre-eminent office investor in the CEE real estate market through its
market-leading positions both in Poland and Romania. Globalworth acquires,
develops and directly manages high-quality office and industrial real estate
assets in prime locations, generating rental income from high quality tenants
from around the globe. Managed by over 230 professionals across Cyprus,
Guernsey, Poland and Romania, a combined value of its portfolio is €3.1
billion, as at 30 June 2021. Approximately 95.1% of the portfolio is in
income-producing assets, predominately in the office sector, and leased to a
diversified array of over 650 national and multinational corporates. In Poland
Globalworth is present in Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice,
while in Romania its assets span Bucharest, Timisoara, Constanta and Pitesti.
For more information, please visit www.globalworth.com and follow us on
Facebook, Instagram and LinkedIn.
IMPORTANT NOTICE: This announcement has been prepared for the purposes of
complying with the applicable laws and regulations of the United Kingdom and
the information disclosed may not be the same as that which would have been
disclosed if this announcement had been prepared in accordance with the laws
and regulations of any jurisdiction outside of the United Kingdom. This
announcement may include statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements may be
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"expects", "intends", "may", "will" or "should" or, in each case, their
negative or other variations or comparable terminology, or by discussions of
strategy, plans, objectives, goals, future events or intentions. These forward
looking statements include all matters that are not historical facts and
involve predictions. Forward-looking statements may and often do differ
materially from actual results. Any forward-looking statements reflect the
Company's current view with respect to future events and are subject to risks
relating to future events and other risks, uncertainties and assumptions
relating to the Company's business, results of operations, financial position,
liquidity, prospects, growth or strategies and the industry in which it
operates. Forward-looking statements speak only as of the date they are made
and cannot be relied upon as a guide to future performance. Save as required
by law or regulation, the Company disclaims any obligation or undertaking to
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