Appointment of Non-Executive Director

RNS Number : 5330F

Aisi Realty Public Limited

18 June 2012

 



18 June 2012

Aisi Realty Public Limited

("the Company" or "Secure Property Development and Investment Limited")

FURTHER STRENGTH ADDED TO THE BOARD AND TURNAROUND CONTINUED WITH APPOINTMENT OF ALVARO PORTELA AS NON-EXECUTIVE DIRECTOR

Secure Property Development & Investment Limited, formerly Aisi Realty Public Limited*, a South Eastern European focused property and investment company, today announces the appointment of Álvaro Portela as a Non-Executive Director of the Company.

Álvaro, 60, a real estate professional with over 25 years' industry experience, was previously the Executive President and Chief Executive Officer of Sonnae Sierra for 20 years. Having joined Sonae Sierra in 1990, Álvaro played a significant role in leading the company from the opening of its first major shopping centre, to becoming a global leader in retail property development and management, with over 50 shopping centres across the globe. Álvaro retired from Sonnae Sierra in 2010 and now holds non-executive positions at various company boards, as Chairman at MAFP, a Dubai based real estate developer, owner and operator, Sonae SGPS, Sonae Capital SGPS, and other Portuguese companies, as well as Investment Committee positions at Paneuropean Fund and ECE European Prime Shopping Centre Fund.

Álvaro's appointment to the Board follows closely that of Harin Thaker, previously Chief Executive Officer, Europe, of Hypo Real Estate, who joined Secure Property as a Non-Executive Director in May this year. The appointments build on a number of successful turnaround initiatives which have been implemented by the new internal management as part of a wider strategy, to improve the Company's financial strength, and reposition it for future growth.

Lambros Anagnostopoulos, Chief Executive Officer of Secure Property, commented: 

"Having put the business on a more secure financial footing and improved its operational performance, this second heavyweight Board appointment in as many weeks really underlines the progress we are making in our turnaround plans for the Company. Álvaro's skills, expertise and extensive experience in our industry are exactly what the business needs to support it through this exciting time and we look forward to working with him as we continue to progress our plans for future growth."

Álvaro Portela added: "Secure Property has undergone significant transformation over the last 12 months and is now in a much stronger position from which to grow. As such, I am extremely pleased to be joining the Board as a Non-Executive Director and I look forward to supporting Lambros and his team as it continues to progress its growth strategy."

Álvaro Portela's current and past directorships over the last five years are shown below:

Current directorships:

Majid Al Futtaim Properties LLC, Dubai, UAE

Fundação Victor e Graça Carmona e Costa, Lisboa, Portugal

COPAM - Companhia Portuguesa de Amidos, SA, Lisboa, Portugal

CASA AGRICOLA HMR SA, Vidigueira, Portugal

  SONAE SGPS, Maia, Portugal

  SONAE RP, Maia, Portugal

  SONAE CAPITAL SGPS, Maia, Portugal

Portela & Portela Lda], Porto, Portugal                                   

Past directorships within the last 5 years:

Sonae Sierra SGPS, Maia, Portugal

There is nothing further to be disclosed for compliance with Schedule 2, paragraph (g) of the AIM Rules.

* The name change is subject to shareholder approval at the next Annual General Meeting

- Ends -

Enquiries:
Secure Property Development & Investment Ltd (formerly Aisi Realty Public Ltd)		+ 380 44 459 3000
Lambros Anagnostopoulos
Liberum Capital Limited (NOMAD and Broker)		[phone]
Chris Bowman / Richard Bootle
FTI Consulting		[phone]
Richard Sunderland / Toyah Simpson

Notes to Editors

About Secure Property Development and Investment Limited

Secure Property Development and Investment Limited ("SPDI") is a South Eastern European focused property company incorporated in Cyprus. The Company's portfolio comprises the Terminal Brovary logistics park in Kiev (Gross Leasable Area of circa 50,000 sqm), and four development projects at different stages of progression, which have a combined value of €33 m.

Established in 2005, SPDI employs a team of 15 experienced professionals operating across three countries. In August 2011, following a transaction with Narrowpeak Consultants Ltd a new internalised management team was introduced to settle the Company's liabilities and create and execute a strategy for growth. SPDI's shares are publicly traded on the AIM market of the London Stock Exchange (AIM:AISI).

About South East Continent Unique Real Estate Management (SECURE)

South East Continent Unique Real Estate (SECURE) Management ("SECURE") is a private equity platform that manages property investment and development vehicles in South East Europe. SECURE Investments I and II, have invested in residential and mixed-use developments totalling circa 300,000 sqm in Bulgaria, Romania and Serbia. SECURE is domiciled in the European Union with offices in Cyprus and Romania and has an active presence in Bulgaria and Ukraine.

With €250m worth of Assets Under Management (AUM) SECURE employs a team of 16 full time professionals, working across five countries, with a wealth of international experience and a strong track record in the real estate development, investment and finance sectors. SECURE was established in 2007 and, through a conservative and risk management focused approach, has managed to steer its clients through the difficult global economic crisis whilst continuing to add value, having even achieved an increase in the Net Asset Value for its Investment Vehicles since inception.

 

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