Last checked at 24 Sep 2009 12:42
| Date: | 24 September 2009 |
| On behalf of: | Carpathian PLC ('Carpathian' or 'the Company') |
Carpathian PLC
("Carpathian" or the "Company")Director Appointment
Carpathian PLC (AIM: CPT) is pleased to announce the appointment of Andrew Shepherd to the Board of the Company as a Non-executive Director, with effect from 23 September 2009.
Andrew Morrison Shepherd, 41, who is based in Warsaw, Poland, has a wealth of experience within the Central and Eastern European property market. Andrew is currently co-CEO of Celtic Property Development, a Central European property developer concentrating on office and residential developments in Poland and the Balkans. Andrew started his career at Ryden International Property Consultants, where he became a country manager working in the Prague office. He later worked at DTZ and became a director of agency for DTZ's Warsaw office. Andrew subsequently co-founded Celtic Asset Management, a Poland-based company offering services to large international investors and developers throughout Poland and other Central European states, which would later be amalgamated into Celtic Property Development. Andrew has also been involved in the setting up, development and in some instances sale of various operating companies. In 2004, he was responsible for establishing the Polish office of Savills, where he grew the company and established it as one of the top four agencies in Poland. Andrew is a member of the Royal Institution of Chartered Surveyors.
Andrew is currently a director of Celtic Asset Management and AIM-listed Terra Catalyst Fund, a fund established and managed by Laxey Partners, a substantial shareholder of Carpathian. Andrew has not been a director of any other companies or partnerships in the last five years. Andrew has an indirect interest in Carpathian through his ownership of 50,000 shares in Terra Catalyst Fund which in turn owns 25,549,661 shares in Carpathian or 11.00% of the Company's share capital.
Other than the information contained in this announcement, there are no other matters to be disclosed under Schedule 2 (g) of the AIM Rules for Companies.
Enquiries:
| Carpathian PLC | |
| Rory Macnamara, Non-Executive Chairman | Via Redleaf Communications |
| Carpathian Asset Management Limited | 020 3178 2892 |
| Paul Rogers / Balazs Csepregi | ir@carpathianam.com |
| Collins Stewart Europe Limited | 020 7523 8350 |
| Bruce Garrow | |
| Redleaf Communications | 020 7566 6700 |
| Emma Kane / Adam Leviton / Henry Columbine | carpathian@redleafpr.com |
Notes to Editors:
| - | Carpathian was created in 2005 for the purpose of investing in Central and Eastern European commercial real estate |
| - | Carpathian's primary focus is on shopping centres, supermarkets and retail warehousing in several countries in Central and Eastern Europe being currently Croatia, the Czech Republic, Hungary, Poland, Romania, Lithuania and Latvia |
| - | Carpathian was admitted to trading on AIM in July 2005 |
| - | Carpathian Asset Management Limited ("CAM") is the Property Investment Adviser to Carpathian. It is responsible for identifying acquisition targets, managing transactions and portfolios and development activity within Central and Eastern Europe. The Company holds a 50 per cent. interest in CAM, the remaining 50 per cent. is held by UK Real Estate Management Limited (a company wholly owned by Paul Rogers and Massimo Marcovecchio) |