Directorate Change

RNS Number : 3164W

Globalworth Real Estate Inv Ltd

14 April 2023

 

FOR IMMEDIATE RELEASE

14 April 2023

Globalworth Real Estate Investments Limited

("Globalworth" or the "Company")

Directorate change

Globalworth, the leading office investor in Central and Eastern Europe, a nnounces that Panayiotis ( Panico) Theocharides has been appointed as a Non-Executive Director with immediate effect.  This appointment has been made pursuant to the rights of Growthpoint Properties Limited ("GRT"), as set out in the Articles of Incorporation of the Company . Mr Theocharides replaces George Muchanya, who has resigned with immediate effect, as one of GRT's representatives on the Board. Mr Theocharides also replaces Mr Muchanya as a member of the Nomination Committee of the Board.

The composition of the Board remains effectively unchanged, with one executive director and nine non-executive directors (of which seven, including the chair, are considered to be independent in accordance with the  UK Corporate Governance Code).

Panico currently serves as Group Head of Investments at GRT and has over 20 years of executive leadership experience focused on listed real estate investment trusts and the investment banking advisory industry in South Africa and currently serves as a non-executive director of Capital & Regional plc (LSE: CAL) and Growthpoint Properties Australia (ASX: GOZ).

Panico has extensive executive experience having held senior roles including Head of Property Advisory, Corporate Finance at Investec Bank Limited in South Africa, Joint CEO of Annuity Properties Limited (a former JSE listed REIT) and CEO of Annuity Asset Managers and Annuity Property Managers. Prior to this, Panico was Head of Corporate Finance at Sasfin Bank and a member of its Executive Committee. Panico also co-founded Tenurey BSM (Pty) Ltd, an independent property advisory business providing corporate finance and property advisory services to JSE-listed and large private property companies.

Additional Information

In accordance with the AIM Rules, the following information required to be disclosed in relation to the director is set out below. Other than this information, there is no further information required to be disclosed under paragraph (g) of Schedule Two of the AIM Rules.

Full name and age

Paniyiotis Theocharides, aged 53

Current beneficial shareholding in the Group

None

Current directorships

Growthpoint Properties Limited

Capital & Regional PLC

Glenrock Holdings (Pty) Ltd

Glenrock Properties (Pty) Ltd

Irini (Pty) Ltd

Kosmos Capital

Speg 888 Investments (Pty) Ltd

Tenurey Bsm Broking (Pty) Ltd

Tenurey Bsm Investments (Pty) Ltd

The Panico Theocharides Family Trust

1fetch (Pty) Ltd

Andico Properties (Pty) LtdDunrose Investments 207 (Pty) Ltd

Tidal Sea Properties 9 (Pty) Ltd

Tlotlisa Financial Services (Pty) Ltd

Tlotlisa Holdings Ltd

Former Directorships (previous five years)

Price City Investments (Pty) Ltd

Tenurey Bsm (Pty) Ltd

Transcend Residential Property Fund Limited

Westbrooke Host 2019 Ltd

Westbrooke Alto 2018 Ltd

Westbrooke Stac 2018 Ltd

Westbrooke Stac 2019 Ltd

Westbrooke Stac 2020 Ltd

Westbrooke Stac 2021 Ltd

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

Enquiries

Stamatis Sapkas Chief Financial Officer	Tel: [phone]
Panmure Gordon (Nominated Adviser and Broker)    Dominic Morley	Tel: [phone]

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 260 professionals across Cyprus, Guernsey, Poland and Romania, a combined value of its portfolio is €3.2 billion, as at 31 December 2022. Approximately 96.4% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of over 690 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, Pitesti, Arad, Oradea and Targu Mures.

For more information, please visit www.globalworth.com and follow us on Facebook, Instagram and LinkedIn.

 

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