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.

28 May 2020

Globalworth Real Estate Investments Limited

("Globalworth" or the "Company")

Board Changes

Globalworth, the leading office investor in Central and Eastern Europe, announces the following changes to the Board:

Appointment of Non-Executive Director

David Maimon has been appointed to the Board as a non-executive director with immediate effect. 

Mr. Maimon serves as member of the Advisory Board of Aroundtown SA and of Grand City Properties SA, both public companies traded on the Prime Standard of the Frankfurt Stock Exchange. As member of such Advisory Boards, Mr. Maimon provides expert advice and assistance to the board of directors. The Advisory Board has no statutory powers under Luxembourg Law.

In the past, he was the President and CEO of EL AL Airlines from 2014 to 2018. Prior to that, Mr. Maimon was VP of Commerce & Industry Affairs, Sales & Marketing and Customer Service in EL AL Airlines and served as a Director in various commercial companies such as Leumi Gemel Ltd, Rosario Capital Underwriting company and Sun D'Or International Airlines.

Board Committees

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, David Maimon

· Audit Committee: John Whittle (Chair), Andreea Petreanu, Richard van Vliet

· Investment Committee: Geoff Miller (Chair), Norbert Sasse, Dimitris Raptis, David Maimon

Board Composition

Following the above changes to the Board, the Board will comprise one executive director and seven non-executive directors.

Geoff Miller, Chair of the Board, commented: "On behalf of the whole board, I welcome David Maimon and look forward to working with him. The changes to the Board committees should further enhance the effectiveness of the Board and, together with the addition of David as a non-executive director, are in the best interests of the Company as a whole".

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 David Maimon 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

David Maimon, aged 59

Current beneficial shareholding in the Group

Nil

Current directorships

Advisory Board member of Aroundtown SA

Advisory Board member of Grand City Property SA

Former Directorships (previous five years)

EL AL Israel Airlines Ltd.

Rosario Capital Ltd.

Rosario Underwriting Services (AS) Ltd.

Sun d'Or International Airlines Ltd.

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.