TIDMGWI
RNS Number : 8551F
Globalworth Real Estate Inv Ltd
31 October 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.
31 October 2018
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
Changes to Board Committees
The Board of Globalworth is pleased to announce a series of
changes to the Company's Board committee structure, consistent with
its ongoing growth and commitment to high corporate governance
standards.
Firstly, the Board has introduced a nomination committee, a
function that was previously undertaken by the Board as a whole.
Secondly, the Board has divided the previous remit of the existing
audit and risk committee into separate audit and risk committees.
In addition, further changes to the roles of its independent
non-executive directors in various committees have been made. These
changes, all with effect from 1 November, are summarised below:
-- The newly formed nomination committee is chaired by Geoff
Miller (Chairman of Globalworth), the other members being Eli Alroy
and Peter Fechter.
-- The newly formed risk committee is chaired by Andreea
Petreanu (Non-Executive Director), the other members being Geoff
Miller, Richard van Vliet and John Whittle. Andreea Petreanu has 18
years' experience in risk management and is currently Head of
Credit Risk Management at Mizuho International in London.
-- Bruce Buck (Non-Executive Director) succeeds Geoff Miller as
chairman of the remuneration committee, Peter Fechter and Eli Alroy
remaining as the other members.
-- The composition of the audit committee is unchanged and
comprises John Whittle (Non-Executive Director and Chairman of the
Audit Committee), Andreea Petreanu and Richard van Vliet.
-- The composition of the investment committee is also unchanged
and comprises Eli Alroy (Non-Executive Director and Chairman of
Investment Committee), Ioannis Papalekas, Dimitris Raptis, Norbert
Sasse and George Muchanya.
Geoff Miller, Chairman of the Board, Globalworth, commented: "I
am delighted to enhance our Board structure to ensure that we
continue to maintain high corporate governance standards and
decision making, and an oversight that is consistent with both the
strong growth trajectory of the Company and the UK Corporate
Governance Code."
Details of the formal duties and responsibilities of each
committee are set out in its respective terms of reference, all of
which are available on the Company's website.
For further information visit www.globalworth.com or
contact:
Enquiries
Andrew Cox
Tel: +44 20 3026 4027
Head of Investor Relations & Corporate Development
Jefferies (Joint Broker) Tel: +44 20 7029 8000
Stuart Klein
Panmure Gordon (Nominated Adviser and Joint Broker) Tel: +44 20
7886 2500
Andrew Potts
Milbourne (Public Relations) Tel: +44 7903 802545
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
EUR2 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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END
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