Information  X 
Enter a valid email address

Equest Inv Balkans (TBI)

  Print   

Wednesday 25 February, 2009

Equest Inv Balkans

Directors Appointment

RNS Number : 8573N
Equest Investments Balkans Ltd
25 February 2009
 



25 February 2009


Equest Investment Balkans Limited

(the 'Company')


Appointment of Directors 


Further to the announcement on 4 February 2009 that the Company's two largest shareholders, namely the State General Reserve Fund of the Sultanate of Oman ('SGRF') and Kairos Investment Management Limited ('Kairos'), had requested the appointment of representatives of SGRF and Kairos as directors of the Company, the board announces that today:

  • Mr Warith Mubarik Al-Kharusi;

  • Mr Faisal Amur Mohamed Al-Riyami;

  • Mr Guido Maria Brera; and

  • Mr Kalim Aziz

have each been appointed a Non-Executive Director of the Company and that:

  • Mr Georgi Krumov 

has been re-appointed an Executive Director of the Company.

SGRF currently holds 5,894,834 ordinary shares of no par value in the Company ('ordinary shares') (representing 32.27% of the issued share capital of the Company) and funds managed by Kairos own 3,743,866 ordinary shares in the Company (representing 20.50% of the issued share capital of the Company). SGRF and Kairos together control 52.77% of the issued share capital of the Company. 


  Enquiries:

Equest Investments Balkans Limited 

Tel: + 44 20 7240 7600 

Petri Karjalainen 

Naomi Kora


Financial Dynamics 

Tel: + 44 20 7831 3113 

Nick Henderson 

David Cranmer

Collins Stewart Europe Limited (Nomad)

Tel: +44 20 7523 8350

Hugh Field

KBC Peel Hunt Limited (Broker) 

Tel: + 44 20 7418 8900 

Capel Irwin

Disclosures under AIM Rules


Mr Al Kharusi

Mr Al-Kharusi, a resident of Oman, joined the SGRF in 1985 as the Director General and is now the Chief Executive Officer of the SGRF. He holds a Diploma in Business Administration.

Mr Al-Kharusi  (aged 55) holds or has held the following directorships, and is or was a member of the following partnerships during the past five years:

Current Directorships / Partnerships:


Past Directorships / Partnerships:




Eagle Properties (L.P.) No.3


None 

Eagle Properties (L.P.) No.4



Eagle Properties (L.P.) No.6



The European Acquisition Company S.a.r.l.



The European Acquisition Company 2 S.a.r.l.



Bulgarian Acquisition Company VI S.a.r.l.



Wopac No.1 Limited



Palm Properties



Sprint (GP) Limited



Normandy (GP) Limited



SEE Capital Sarl



Eagle Properties 7



Spartak Tours AD



Vietnam Oman Investment Company 



Advent International



Migros



National Investment Funds Company 



Grand Angle Holding France SAS



Le Trema France Property S.A.R.L.



Bulco Acquisition AD




Mr Al-Riyami

Mr Al-Riyami, a resident of Oman, joined the SGRF in June 2007 as the Section Head of Direct Investments of the SGRF.

Mr Al-Riyami was previously the Finance Director of Railtech Solutions Limited ('Railtech Solutions') (see further below), a company located in Portsmouth in the UK specializing in IT software for principally road and rail networks in the transportation sector (2005 to 2007), Financial Controller of Nawras Telecom (2004 to 2005) and an Internal Auditor at Bank Muscat (1999 to 2004).

Mr Al-Riyami holds an MBA (Finance) from the University of Leicester and is a member of the Chartered Financial Analyst Institute and the Chartered Alternative Investment Analyst Association.

Mr Al-Riyami is a director of Borovets Invest EAD, which is a joint venture between a subsidiary of the Company and the SGRF.

As noted above, Mr Al-Riyami was appointed the Finance Director of Railtech Solutions (a company incorporated in England & Wales with registered number 03973036) on 1 November 2005. At the time of his appointment, Railtech Solutions was in financial difficulties and Mr Al-Riyami joined in that knowledge and with the express intent of trying to restructure and turn around Railtech Solutions. He resigned as a director of Railtech Solutions on 6 March 2007. On 29 March 2007 joint administrators were appointed to Railtech Solutions, under the floating charge, under Paragraph 49 of Schedule B1 to the Insolvency Act 1986. The winding up of Railtech Solutions commenced in June 2008 and Railtech Solutions was dissolved in January 2009. The secured creditor was paid in full and the shortfall for unsecured creditors was approximately £1 million.


Mr Al-Riyami (aged 32) holds or has held the following directorships, and is or was a member of the following partnerships during the past five years:


Current Directorships / Partnerships:


Past Directorships / Partnerships:




SEE Capital Management Sarl


Railtech Solutions Limited

Spartak Tours AD



Borovets Invest EAD




Mr Brera

Mr Brera, who is Italian, is a co-founder of Kairos. He graduated from Universita La Sapienza, Rome and qualified as a Dottore Commercialista (the equivalent of a chartered accountant) in 1993. In 1994, he joined Fineco SIM, concentrating on relative value trades, calendar spreads, stock index futures arbitrages and the establishment of structured products for institutional clients. In 1996, he joined Cisalpina Gestioni as manager of the Cisalpina Bilanciato and Cisalpina Indice funds. In 1997, he joined Giubergia Warburg as director, Head of Proprietary Trading, leaving to establish Kairos in early 1999. Mr Brera has been co-manager of Kairos Fund Limited since its inception in June 1999.

Mr Brera (aged 39) holds or has held the following directorships, and is or was a member of the following partnerships during the past five years:

Current Directorships / Partnerships:


Past Directorships / Partnerships:




Kairos investment Management SpA


None

Kairos investment Management Limited



Oliver Twist Foundation



IMATION (Italy)




Mr Aziz

Mr Aziz joined Kairos in January 2006 and is the co-fund manager of the Kairos Eurasian Fund with Guido Brera and is the primary analyst at Kairos for stocks in the Eurasian markets. Before joining Kairos, he was Head of Equity research for the EMEA Region at UniCredit Banca Mobiliare in London (2004 to December 2005). Previously Mr Aziz has specialised in Telecoms research and he held a number of senior research positions at securities houses in London and Karachi. Mr Aziz holds a Masters in Business Administration from the University of Karachi.

Mr Aziz (aged 43) holds or has held the following directorships, and is or was a member of the following partnerships during the past five years:

Current Directorships / Partnerships:


Past Directorships / Partnerships:




Little Lord Fauntleroy Foundation


None


Mr Krumov

Mr Krumov was previously appointed an executive director of the Company on 23 June 2008 and resigned on 7 November 2008.

Mr. Krumov has more than thirteen years of experience in executive positions in multinational companies operating in Bulgaria and the region such as Cable & Wireless (UK), Burmah Castrol (UK) and British Petroleum (UK). Mr. Krumov is an owner of a diversified group of companies operating in Bulgaria, one of which is Electron Progress AD, one of the country's largest suppliers in the defence communication sector. 

Mr. Krumov, together with Mr. Kari Haataja and Mr. Petri Karjalainen (who are also directors of the Company) are the owners of Equest Capital Management Limited. Prior to the reorganisation of the management structure of the Company earlier in 2009, the Company had delegated the day-to-day management of its investment portfolio to Equest Capital Management Limited, which acted as the Investment Manager to the Company.  

Mr. Krumov previously owned an indirect interest in 20 per cent. of the issued share capital of Avto Union AD (which is a subsidiary of the Company). 

Mr Krumov (aged 46) holds or has held the following directorships, and is or was a member of the following partnerships during the past five years:

Current Directorships / Partnerships:


Past Directorships / Partnerships:




Avanti Capital EAD
Avto Union AD

Axes Europe OOD

Boyana Residence OOD

Burma Oil TP

Companies Management International Centre AD

Equest Capital Management Limited

Equest Property Management Limited

GBK EOOD

Gransport Auto EOOD

IQuest EAD
Mejdunaroden Tzentar Po Firmeno Upravlenie AD

National Board of Tourism Association

Novera AD

Rila-Samokov 2004 AD

SEE Capital Management AD

SEE Capital Management Sarl

Spartak Turs AD
Uniqa Health Insurance AD

UNIQA Insurance Company AD
Nigo 62 SD

VIP International Services OOD


Atia Holidays EAD
Banya Holiday AD 

Bellevue Property Management EAD

Borovets Investments EAD
Castrol Italiana

Cherno more- Belvue OOD

Equest EAD

Electron Progress AD

EPM Holding EAD

Equest Investment Balkans Limited

Equest Partners Limited
Hastings EOOD

Insurance Company Vitosha AD

Lexington EAD
Star Motors EOOD

Strategicle defencive systems AD
Union Properties EAD


Mr. Krumov has a beneficial interest in 579,517 ordinary shares in the Company (representing 3.17% of the issued share capital) and 188,308 warrants in the Company.

SEE Capital Management SARL, which is owned as to 40% by Mr Krumov and 60% by SGRF, is involved, through its Bulgarian subsidiary, in providing management, consultancy and development services in relation to property projects in Bulgaria.

There are no further disclosures required under paragraph (g) of Schedule Two of the AIM Rules for Companies in respect of Mr Al-Kharusi, Mr Al-Riyami, Mr Brera, Mr Aziz and Mr Krumov.


--oo--






This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
BOAEAEASALFNEFE

a d v e r t i s e m e n t