Appointment of Directors

RNS Number : 3315X

Equest Investments Balkans Ltd

23 June 2008

 

Equest Investments Balkans Limited

23 June 2008

Appointment of Directors

Equest Investments Balkans Ltd (the 'Company') today announces, following completion of the reorganisation of the management structure of the Company (as detailed in the Circular to Shareholders dated 28 March 2008), the appointment of Mr. Kari Haataja and Mr. Georgi Krumov as Executive Directors of the Company with effect from today. 

Mr. Kari Haataja and Mr. George Krumov are (together with Mr. Karjalainen who is also a director of the Company) the owners of Equest Capital Management Limited. Prior to the reorganisation of the management structure of the Company, the Company had delegated the day-to-day management of its investment portfolio to Equest Capital Management Limited, which acted as the Investment Manager to the Company.

Mr. Kari Haataja, aged 44, has more than eighteen years experience in working in private equity in Central and Eastern Europe, Russia and the former Commonwealth of Independent States. Prior to founding the Investment Manager, Mr. Haataja worked for over six years with the European Bank for Reconstruction and Development and its related private equity funds, where he was responsible for over €500 million in investments into private equity funds in Russia, the Commonwealth of Independent States and Central and Eastern Europe. Prior to this, Mr. Haataja worked for a number of years, and in various locations, with PricewaterhouseCoopers in management consulting, private equity and financial advisory roles.

Mr. Georgi Krumov, aged 45, has more than thirteen years of experience in executive positions in multinational companies operating in Bulgaria and the region such as Cable & Wireless (UK), Burmah Castrol (UK) and British Petroleum (UK). Mr. Krumov is an owner of a diversified group of companies operating in Bulgaria, one of which is Electron Progress AD, one of the country's largest suppliers in the defence communication sector. Mr. Krumov also has an indirect interest in 20 per cent. of the issued share capital of Avto Union AD (a subsidiary of the Company) through Kamalia Trading Limited, a company owned and controlled by him.

The current and past directorships held by Mr. Kari Haataja and Mr. Georgi Krumov over the past 5 years are set out below:

Current directorships held by Mr. Kari Haataja:

Borovets Invest EAD
Equest Capital Limited
Equest Capital Management Limited
Equest EAD
Equest Partners Limited
Equest Property Management Limited
Lexington EAD
Novera AD
Seneka East OOD
TechnomarketDomo BV
Uniqa Insurance AD

Previous directorships held in the last five years by Mr. Kari Haataja:

None

Current directorships held by Mr. Georgi Krumov:

Avanti Capital EAD
Avto Union AD
Axes Europe OOD
Borovets Investments EAD
Boyana Residence OOD
Burma Oil TP
Companies Management International Centre AD
EPM Holding EAD
Equest Capital Management Limited
Equest Partners Limited
Equest Property Management Limited
GBK EOOD
Gransport Auto EOOD
Insurance Company UNIQA AD
Lexington EAD
Mejdunaroden Tzentar Po Firmeno Upravlenie AD
National Board of Tourism Association
Novera AD
Rila-Samokov 2004 AD
SEE Capital Management AD
Spartak Tours AD
Uniqa Insurance AD
Nigo 62 SD
VIP International Services OOD

Previous directorships held in the last five years by Mr. Georgi Krumov:

Atia Holidays EAD
Banya Holiday AD
Bellevue Partners AD
Bellevue Property Management EAD
Castrol Italiana
Cherno more- Belvue OOD
Equest EAD
Electron Progress AD
EPM Holding AD
Hastings EOOD
Insurance Company Vitosha AD
Star Motors EOOD
Strategicle defencive systems AD
Union Properties EAD 

Save as set out above, there are no further details in relation to the above appointments which require disclosure under paragraph (g) of Schedule 2 to the AIM Rules.

For further information please contact:

Equest Partners Limited

+ 44 20 7240 7600

Petri Karjalainen

Naomi Kora

Financial Dynamics

+ 44 20 7269 7114

Nick Henderson

David Cranmer

Collins Stewart Europe Limited

[phone]

Hugh Field

Equest Investments Balkans Ltd is the specialist investment company focused on retail and financial services, infrastructure and property development in South Eastern Europe

 

END

 

 

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