Update on Poland

RNS Number : 2355K

Globalworth Real Estate Inv Ltd

12 December 2018

 

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain.

12 December 2018

Globalworth Real Estate Investments Limited

("Globalworth" or the "Company")

Management Change at Globalworth Poland

Globalworth, the leading office investor in Central and Eastern Europe, is pleased to announce that Dimitris Raptis, Deputy CEO and CIO of the Company is to be nominated by the GPRE board[1] for the role of Interim CEO of Globalworth Poland (GPRE)[2], the Company's Polish subsidiary.  He will carry out this role in addition to his existing responsibilities at Globalworth.

Mr Raptis, a non-executive director of GPRE since November 2017, will be nominated to succeed Malgorzata Turek, who has been CEO since September 2017 and has been responsible for successfully implementing GPRE's strategy since the Company's acquisition of its controlling stake in GPRE in December 2017.   With €680 million of acquisitions of high-quality office assets over this time, GPRE has established itself as the largest institutional office investor and landlord in Poland.   Ms Turek, who will cease to be the CEO or an Executive Director of GPRE, will be leaving GPRE to pursue new opportunities, and leaves with the Company's thanks and best wishes for her future endeavours.

In addition, and in-line with its portfolio growth, the organisational structure at GPRE has been reinforced with the appointment of Lukasz Duczkowski as Head of Investments.  Mr Duczkowski has nearly 12 years of experience in the Polish real estate financing and investment market having previously worked with HSBC, Colliers and, most recently, Griffin Real Estate.  Artur Apostol, who has been GPRE's Head of Investments since the beginning of this year has been appointed as GPRE's Chief Operating Officer (COO).  Rafal Pomorski continues in his position as GPRE's Chief Financial Officer (CFO) and executive board member, which he has held since GPRE's IPO in April 2017. 

For further information visit www.globalworth.com or contact: 

Enquiries

Andrew Cox                                                                                                                      Tel: [phone]

Head of Investor Relations & Corporate Development  

Jefferies (Joint Broker)                                                                                                    Tel: [phone]

Stuart Klein

Panmure Gordon (Nominated Adviser and Joint Broker)                                         Tel: [phone]

Andrew Potts

Milbourne (Public Relations)                                                                                          Tel: [phone]

Tim Draper

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 Romania and in Poland, where the Company has a majority shareholding in Globalworth Poland, a pure-play Polish real estate platform listed on the Warsaw Stock Exchange.  Globalworth acquires, develops and directly manages high-quality office and logistics/light-industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by over 170 professionals across Romania and Poland, the combined value of its portfolio is in excess of €2 billion, as at 30 June 2018. Over 90% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of some 510 national and multinational corporates. In Romania, Globalworth is present in Bucharest, Timisoara and Pitesti, while in Poland its assets span Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice. 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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[1] In accordance with Dutch law, Mr Raptis' appointment requires formal nomination by the board followed by the adoption of a resolution of a general meeting of GPRE shareholders. 

[2] Globalworth has a 68.4% shareholding in Globalworth Poland Real Estate N.V. ("GPRE").

 

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