Appointment of CFO

RNS Number : 7046Y

Globalworth Real Estate Inv Ltd

29 January 2014

 



Globalworth Real Estate Investments Limited

Globalworth appoints Chief Financial Officer

Guernsey, 29 January 2014: Globalworth Real Estate Investments Ltd. (AIM: GWI) ("Globalworth" or "the Company"), the real estate investment company targeting opportunities in Romania and the broader SEE and CEE regions, is pleased to announce the appointment of Andreas Papadopoulos as the company's Chief Financial Officer. Since admission to AIM in July 2013, Dimitris Raptis, Deputy Chief Executive Officer and Chief Investment Officer, has acted as Interim Chief Financial Officer. Mr Papadopoulos, who will join the Company in March, will be a member of the Company's Senior Management Team.

Dimitris Raptis, Deputy Chief Executive Officer and Chief Investment Officer of the Company commented: "We are delighted that Andreas has agreed to join Globalworth at this exciting stage of its development. Andreas is not only a seasoned auditing and corporate finance professional, having spent most of his career with Ernst & Young, but also brings considerable experience both of the Romanian real estate market and of dealing with lenders".

From 1999 to 2012, Mr. Papadopoulos worked for Ernst & Young in in several Central and Southeast European countries, including Romania and Slovenia, as a Partner responsible for a large number of engagements, mostly involving audits not only of subsidiaries of multinational Groups, but also of local companies and Groups. In Romania he was involved in the provision of audit and transaction advisory services for some of the most significant real estate transactions at that time.

After leaving Ernst & Young, Mr. Papadopoulos worked as the Chief Financial Officer of a company within the Leptos Group, one of the largest Cypriot real estate and hotel groups with activities in the  real estate development, hotels & hospitality, and healthcare and education sectors in Cyprus and

Greece. There he was actively involved in loans restructuring and the day to day communication with banks, as well as the monitoring of compliance with the terms of the loan agreements.

For further information visit www.globalworth.com or contact:  

Panmure Gordon (Nominated Adviser)                             Tel: [phone]

Nicola Marrin

Freddy Crossley

Cantor Fitzgerald Europe (Joint Broker)                            Tel: [phone]

Rick Thompson

David Porter

Milbourne (Public Relations)                                               Tel: [phone]

Tim Draper

About Globalworth:

Globalworth Real Estate Investments Ltd is a real estate investment company founded by real estate investor and developer Ioannis Papalekas to take advantage of investment opportunities in Romania and the broader SEE and CEE regions. The company is Guernsey incorporated and registered as a closed-ended collective investment scheme by the Guernsey FSC. The Company's shares were admitted to trading on AIM in July 2013.

The Romanian market offers an attractive real estate investment proposition in the medium-to-long term. Globalworth believes that global investor capital flows will gradually move from markets considered as "safe havens" to more peripheral markets such as Romania and the broader SEE and CEE regions in search of higher yielding investments. As a result, Romania and the broader SEE and CEE regions should, in due course, become more attractive destinations for a wide investor audience. Globalworth anticipates holding an early mover advantage in these markets and benefitting from this gradual shift in investor sentiment.

 

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