TIDMGWI
RNS Number : 7739I
Globalworth Real Estate Inv Ltd
16 December 2020
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.
16 December 2020
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
Management Change
The Company announces that it has been agreed with Mr Ioannis
Papalekas, the Company's CEO, that he will leave the Company with
effect from 15 December 2020. Mr Dimitris Raptis will assume sole
charge of CEO responsibilities, which he has for the past eight
months shared with Mr Papalekas as Co-CEO.
Mr Raptis will lead the Company's excellent management team of
seasoned professionals many of whom have grown within the
organisation and have been largely responsible both for the success
achieved so far as well as for how well the Company has fared
during the last several turbulent months.
As part of the agreement with Mr Papalekas for his departure,
the relationship agreement between him and the Company has been
terminated [1] and a new, one-year, non-compete agreement in
relation to Poland and Romania real estate investments has been
entered into on substantially the same terms and conditions as the
relationship agreement.
Mr Geoff Miller, Chair of the Board, commented : "On behalf of
the Board, I would like to thank Ioannis for his immense
contribution and unwavering commitment to Globalworth since its
inception and for his central role in creating the successful
business that exists today. The Board looks forward with confidence
as Dimitris steps into the sole CEO role in these challenging
times."
Mr Dimitris Raptis, CEO, commented: "I am delighted to take on
the sole CEO role and look forward to cementing Globalworth's
market leading position.
I have worked alongside Ioannis since Globalworth's creation in
2012. He has been the visionary leader and driving force behind
Globalworth's outstanding success and transformation from a small
Romania-focused office developer into the largest office investor
and landlord in the wider CEE region. The values of respect,
commitment, drive to excel, client-centric focus and giving back to
the wider community which he has instilled at the outset will
continue to be the pillars of Globalworth's culture and
strategy.
I would also like to add my personal thanks to Ioannis for his
friendship, counsel and trust over the years and wish him all the
very best for the future.
I am very confident that we will address the challenges that may
lie ahead in 2021 and beyond and achieve new levels of
success."
Mr Ioannis Papalekas commented: " Founding and leading
Globalworth has been my life's work and greatest professional
achievement. It has been challenging but at the same time very
fulfilling, professionally and personally. I'm really proud that
after so many years of hard work together we have created a
pioneering real estate player in the region, ready for the next
stage of its development. I am also grateful to the entire
Globalworth community for its tremendous support and commitment,
without which such an achievement would not have been possible. I'm
convinced that Dimitris, with whom we started the Globalworth
journey together, is the right person to drive the Company's future
growth and success."
For further information visit www.globalworth.com or
contact:
Enquiries
Geoff Miller Tel: +44 20 7886
Chairman 2500
Jefferies (Joint Broker) Tel: +44 20 7029
Stuart Klein 8000
Panmure Gordon (Nominated Adviser and Joint Tel: +44 20 7886
Broker) 2500
Alina Vaskina / Joanna Langley
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
Poland and Romania. Globalworth acquires, develops and directly
manages high-quality office and industrial real estate assets in
prime locations, generating rental income from high quality tenants
from around the globe. Managed by over 200 professionals across
Cyprus, Guernsey, Poland and Romania, a combined value of its
portfolio is EUR3.0 billion, as at 30 June 2020. Approximately
94.4% of the portfolio is in income-producing assets, predominately
in the office sector, and leased to a diversified array of c.700
national and multinational corporates. In Poland Globalworth is
present in Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice,
while in Romania its assets span Bucharest, Timisoara, Constanta
and Pitesti. 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.
[1] Further details of the relationship agreement can be found
in the regulatory announcement of 1 December 2016.
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END
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