TIDMGWI
RNS Number : 7604D
Globalworth Real Estate Inv Ltd
21 October 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
21 October 2022
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
CEO succession
Globalworth, the leading office investor in Central and Eastern
Europe, announces that the Board of Globalworth and Dimitris
Raptis, have agreed for Mr Raptis to step down from his role as as
Chief Executive Officer ("CEO") and as a member of the Board with
effect from 31 December 2022, but he will continue to support
Globalworth in an advisory role allowing time for a handover period
. Mr Raptis joined the Board of the Company as Deputy CEO and Chief
Investment Officer ahead of its IPO on AIM in 2013, later becoming
CEO during 2020.
Dennis Selinas is joining the Company as an executive director
with effect from 21 November 2022 and will take over as CEO of
Globalworth from 1 January 2023. Mr Selinas is currently managing
the real estate portfolio of Argo Capital Management Limited, an
AIM-listed fund management company, which consists of EUR500m of
retail assets in South and Eastern European shopping centres and
land, including in Romania . Mr Selinas has extensive experience in
the financial and property industries of more than twenty years. He
has multi-disciplinary expertise (Executive Management, Operational
& Financial Restructuring, M&A Advisory, Private Equity,
Trading, Derivatives Structuring) in several asset classes
(Property, Distressed Debt, Fixed Income, Precious Metals) across
varying types of institutions (Listed Property Companies, Private
Equity Funds, Investment Banks, Hedge Funds), in several diverse
jurisdictions (South Eastern Europe, China, Brazil, Middle East
& Western Europe). He started his career trading fixed-income
derivatives at the Bank of Montreal and moved to M&A with
Lazard London after graduating from London Business School. He has
held senior positions at Argo Capital Management and Charlemagne
Capital and has been involved in all aspects of property
investment, including acquisition, development, portfolio
disposals, financing, asset management and restructuring in the
retail, office, and residential sectors.
Martin Bartyzal, Chairman, commented:
"On behalf of the Board, I'd like to place on record our thanks
and appreciation to Dimitris for his drive and dedication over the
last ten years. He has played a key role, especially over the last
few challenging years, in steering the Company through to continued
resilient performance and in shaping Globalworth's plans for the
future. He has also helped to nurture a first-class management team
that, under Dennis' future guidance, is now very well placed to
take the business forward. On behalf of the Board, I would like to
welcome Dennis to his new role with Globalworth to which he has
been appointed following an independent search. Dennis 'extensive
background in CEE property and finance is the right fit for the
company and will be vital for strengthening its dominance in the
office market."
Dennis Selinas commented:
"I am honoured to assume the role of CEO of Globalworth, the
leading office landlord in Central & Eastern Europe. During the
last decade, I have witnessed Globalworth's remarkable portfolio
growth of high-quality, functional, and sustainable working spaces
chosen by the most demanding tenants. I plan to embrace the
Company's vision of continuously upgrading its assets, its
operational excellence and enhancing the competitive advantages
that make it the preferred landlord in Romania and Poland. In a
rapidly shifting macroeconomic and geopolitical environment, I look
forward to working with a capable management team that has been
instrumental to Globalworth's evolution to its current prominent
market position. All that the team has achieved to date is a solid
foundation for further thoughtful growth, innovation in asset
management and a continuous improvement of service to our tenants
and delivery of value to our shareholders."
Dimitris Raptis commented:
"My tenure with Globalworth has been the greatest accomplishment
of my professional career. Starting from relatively modest
beginnings as a real estate developer in Bucharest, Romania, to
becoming not only the leading office investor and landlord in
Central and Eastern Europe but also one of the most admired,
respected, and recognised real estate corporates and brands in the
region has been a phenomenal journey full of excitement, challenges
at times, and immense professional and personal fulfilment.
I am grateful to all our clients, customers, advisors and
investors for their support over the years. Above all, however, all
this could not have been achieved without the invaluable
contribution of my team, with many of whom I had the pleasure and
privilege to work for a long time. Forging an amazing group of
talented individuals, and leading it for the last three years is
what I am mostly proud of.
I'd like to wish the entire Globalworth community all the very
best in the times ahead. I am confident that the business and our
management team, having also the strong support of our
shareholders, is very well placed to thrive in the times
ahead."
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.
Full name and age
Dennis Selinas, aged 54
Current beneficial shareholding in the Company
None
Current directorships
Argo Property Management SRL
Association of Real Estate Investors in Romania (AREI)
Former Directorships (previous five years)
None
For further information visit www.globalworth.com or
contact:
Enquiries
Martin Bartyzal Tel:+4 (0) 372 800 000
Chair
Panmure Gordon (Nominated Adviser and Broker) Tel: +44 20 7886 2500
Alina Vaskina / Dougie McLeod
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 240 professionals across
Cyprus, Guernsey, Poland and Romania, a combined value of its
portfolio is EUR3.2 billion, as at 30 June 2022. Approximately
96.3% of the portfolio is in income-producing assets, predominately
in the office sector, and leased to a diversified array of over 660
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,
Pitesti, Arad and Oradea.
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
BOAFLFVVIILLFIF
(END) Dow Jones Newswires
October 21, 2022 10:00 ET (14:00 GMT)
Globalworth Real Estate ... (LSE:GWI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Globalworth Real Estate ... (LSE:GWI)
Historical Stock Chart
From Jul 2023 to Jul 2024