Arricano Real Estate PLC Management changes (6373O)
August 08 2014 - 4:37AM
UK Regulatory
TIDMARO
RNS Number : 6373O
Arricano Real Estate PLC
08 August 2014
8 August 2014
Arricano Real Estate plc
("Arricano" or the "Company" or, together with its subsidiaries,
the "Group")
Management Changes
Arricano (AIM:ARO), one of the leading real estate developers in
Ukraine specialising in operating shopping centres, announces that
Mikhail Merkulov is to be appointed to the position of the Chief
Executive Officer of the Company (non-board appointment) with
effect from 8 September 2014.
Mr Merkulov, a Ukrainian national, has 16 years' experience
across different industries operating in volatile markets in
Central and Eastern Europe countries (Ukraine, Russia, Bulgaria,
Serbia, Slovenia and Austria). Mikhail's career started in 1998
when he joined McDonald's, in Ukraine, and became Operations
Manager. He worked within the business for over seven years and
then joined Food Star, a restaurant holding company in Russia,
where he held the position of Chief Executive Officer. In 2007
Mikhail joined Erste Group Immorent AG in Ukraine, a specialist in
real estate financing, infrastructure financing and project
development, as Managing Director. Here Mikhail gained knowledge of
the real estate market and in 2011 became Regional Director for
Bulgaria, Poland, Serbia, Slovenia and Ukraine.
Mikhail studied English and German at Kharkov State University
in Ukraine and received an MBA from Manchester Business School in
the UK. He is a member of the Ukrainian Real Estate Club and often
acts as a moderator and speaker at conferences.
Yarema Kovaliv, who has been the Acting Chief Executive Officer,
will continue in his current role until 8 September 2014 at which
time he will take up the new role of Executive Advisor to the board
of directors of Arricano (the "Board").
Rupert Cottrell, chairman of the Company, commented: "the Board
is delighted about the appointment of Mikhail Merkulov and feel
that his experience will contribute to the continuing growth of
Arricano. Additionally, Yarema Kovaliv's continued support to the
Board in his new role should ensure continuity and the Board's
direct access to his operational expertise. "
Disclosures under Schedule 2(g) of AIM Rules for Mikhail
Merkulov are as follows:
Full name and age:Mikhail Merkulov, age 40
Past Directorships within the last five years
Erste Group Immorent AG
There are further no disclosures to be made pursuant to Schedule
2 paragraph (g) of AIM Rules in respect of Mikhail Merkulov.
For further information please contact:
Arricano Real Estate plc Tel: +380 44 569 6708
Yarema Kovaliv, Acting CEO
Nominated Adviser and Joint Broker:
Smith & Williamson Corporate Finance Limited Tel: +44 (0)20 7131 4000
Azhic Basirov
Joint Broker:
Whitman Howard Limited Tel: +44 (0)20 7087 4555
Ranald McGregor-Smith
Note to Editors
Arricano (AIM: ARO) is one of the leading real estate developers
in Ukraine and specialises in operating shopping centres. It is
listed on the AIM Market of the London Stock Exchange. The Arricano
group has a strong management team, which consists of local as well
as international experts with long standing track records in real
estate. The Arricano group owns and operates (or, in the case of
Sky Mall, has an interest in) five shopping centres in Ukraine with
approximately 160,000 sq. m GLA. The properties are located in the
capital Kyiv (Sky Mall and M26/RayON), Kryvyi Rih (SEC Sun
Gallery), Zaporizhzhia (SC City Mall) and Simferopol (SC South
Gallery). The Company owns and is developing four development
properties: Prospect/Krasnotkatska (Kyiv); Petrivka (Kyiv);
Rozumovska (Odesa); and Lukianivka (Kyiv).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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