Globalworth Regulatory News (GWI)

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.

23 April 2020

Globalworth Real Estate Investments Limited

("Globalworth" or the "Company")

Board Changes

Globalworth, the leading office investor in Central and Eastern Europe, announces changes to the Company's Board of Directors. 

Changes to Investor Directors

Pursuant to the rights of CPI Property Group SA, through its ownership of Zakiono Enterprises Limited ("Zakiono"), as set out in the Articles of Incorporation of the Company (the "Articles"):

· Bruce Buck, who was appointed as an Investor Director by Zakiono on 13 December 2017, has ceased to be a Director with immediate effect;

· Martin Bartyzal has been appointed as an Investor Director with immediate effect.

Mr Bartyzal has held senior positions at Deutsche Bank AG Prague Branch ("Deutsche Bank Aktiengesellschaft, Filiale Prag"), where he was most recently Director in Corporate & Investment Banking and Chief Country Officer for the Czech Republic. In this capacity he also acted as a Member of the Regional Management Committee for Central and Eastern Europe.

Pursuant to the rights of Growthpoint Properties Limited ("GRT"), as set out in the Articles:

· Peter Fechter, who was appointed as an Investor Director by GRT on 27 February 2017, has ceased to be a Director with immediate effect;

· George Muchanya, who was appointed as an Investor Director by GRT on 27 February 2017, has ceased to be a Director with immediate effect and, also in accordance with the Articles, he has been appointed as an alternate Director by Norbert Sasse, Non-Executive Director. As an alternate, Mr Muchanya may attend and vote in place of Mr Sasse at any meeting of the board of directors of the Company or any meeting of a duly appointed committee of the board at which Mr Sasse is not personally present.

Changes to Board Committees

As a consequence, the Committees of the Board will now be composed as follows:

· Nomination Committee: Geoff Miller (Chair), Andreea Petreanu, Richard van Vliet

· Remuneration Committee: Martin Bartyzal (Chair), John Whittle, Geoff Miller

· Risk Committee: Andreea Petreanu (Chair), Martin Bartyzal, Richard van Vliet

The members of the Audit and Investment Committees remain unchanged.

Board Composition

Following the above changes to the Board, the Board will comprise one executive director and six non-executive directors (of which five, including the chair, are considered to be independent in accordance with the UK Corporate Governance Code).

Geoff Miller, Chair of the Board, commented: "These changes, which result in a leaner structure whilst maintaining the independence of the board, will also - we believe - further enhance its effectiveness and are in the best interests of the Company as a whole.

I would also like to take this opportunity to thank Bruce Buck and Peter Fechter for their invaluable contributions to the board and its decision making, during their respective tenures, and during times of great change within the Company".

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

Enquiries

Additional Information

In accordance with the AIM Rules, the following information required to be disclosed in relation to Martin Bartyzal 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

Martin Bartyzal, aged 55

Current beneficial shareholding in the Group

Nil

Current directorship

Druzstvo H.U.S. 31

Former Directorship (previous five years)

Deutsche Bank Aktiengesellschaft Filiale Prag, organizační složka

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 Romania and in Poland. Globalworth acquires, develops and directly manages high-quality office and logistics/light-industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by c.240 professionals across Cyprus, Guernsey, Romania and Poland, the combined value of its portfolio is €3.04 billion, as at 31 December 2019. Approximately 93.4% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of over 715 national and multinational corporates. In Poland Globalworth is present in Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice, while in Romania its assets span in 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.