TIDMGWI
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 i n 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 or
contact:
Enquiries
Stamatis Sapkas Tel: +40 732 800
Deputy Chief Investment Officer 000
Jefferies (Joint Broker) Tel: +44 20 7029
Stuart Klein 8000
Panmure Gordon (Nominated Adviser and Joint Tel: +44 20 7886
Broker) 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 EUR3.1 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 identified by the use of forward-looking terminology, including
the terms "targets", "believes", "estimates", "plans", "projects",
"anticipates", "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 release publicly any
updates or revisions to any forward-looking statements in this
announcement that may occur due to any change in its expectations
or to reflect events or circumstances after the date of this
announcement.
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