6 Feb 2009 07:00
Treveria plc
("Treveria" or the "Group")
6 February 2009
Board strengthened with the appointment of three new directors
Treveria plc (AIM: TRV), the German retail focused real estate investment company, announces that it has strengthened its board of directors with the appointments of Nicholas Cournoyer, Rolf Elgeti and Michael Neubürger. Effective today, these appointments follow the Group's announcement on 2 December 2008 regarding the conclusion of Treveria's strategic review, and the steps taken to stabilise its management structure, at which time the decision to widen the level of expertise and insight at Board level was also communicated.
At that time, the Group also announced that Manfred Maus had indicated his desire to retire from the Board. Mr Maus will retire on 6 February 2009 and the Board would like to take this opportunity to thank him for his valuable contribution to the business.
Nicholas Cournoyer
Nicholas Cournoyer, aged 50, is Managing Partner of Montpelier Investment Management LLP ("Montpelier") which currently holds 19.63% of the Group's issued share capital. Mr Cournoyer founded Montpelier in 1992; the company specialises in investments in distressed debt and equity.
Prior to founding Montpelier, Mr Cournoyer was at Chase Manhattan Bank where he worked in its sovereign and corporate debt restructuring teams in Central and South America (1982 - 1985). In 1985, he established its New York-based Emerging Markets debt trading group and from 1986 to 1991 he headed a similar operation in London.
Mr Cournoyer will be a non-executive director of Treveria plc.
Rolf Elgeti, CFA
Rolf Elgeti, aged 32, has six years' experience in the German commercial and residential property investment markets during which he has been responsible for acquiring and managing a portfolio of assets exceeding €100 million for clients. He is currently managing director at Elgeti Ashdown Advisers Ltd, a London-based property fund manager specializing in German property, which he co-founded in April 2007.
Prior to Elgeti Ashdown, Mr Elgeti worked as a European macro analyst and equity strategist focusing on Germany at UBS, Commerzbank Securities and ABN Amro. He was twice top-ranked for European Equity Strategy in the Extel survey among institutional equity investors. Mr Elgeti graduated with an MBA from the University of Mannheim, Germany, and received an MBA from ESSEC, Paris, in 1999.
Mr Elgeti will be a non-executive director of Treveria plc.
Michael Neubürger
Michael Neubürger, aged 46, is an independent real estate financing and transaction consultant. Prior to which, from 2001 to 2007, he held senior positions at, and was latterly chief financial officer on the board of, Deutsche Wohnen AG, Germany's second largest listed residential property company. He was responsible for financing, sales, portfolio management, accounting and risk management. Before joining Deutsche Wohnen, he held various senior financial control positions at Deutsche Bank from 1995 to 2000. Mr Neubürger has a Diplom-Kaufmann in Economics from the University of Cologne.
Mr Neubürger will be a non-executive director of Treveria plc.
Commenting on the appointments, Ian Henderson, Chairman of Treveria, said: "Today's announcement follows the conclusion of our strategic review in December. The new directors were put forward by our largest shareholders and approved by the entire board and their appointment today concludes the process of extending the level of expertise at board level. I am therefore very pleased to be able to welcome Nicholas Cournoyer, Rolf Elgeti and Michael Neubürger to the board of Treveria plc. Their combined experience and individual skills, particularly with regard to debt and financial restructuring, will be invaluable in helping us achieve our aim of securing the Company's position and debt facilities and ensuring we are able to come through these challenging times successfully.
"I would also like to thank Manfred Maus for his wise counsel during his time as a director and to wish him well in his new pursuits."
Other than those listed below there are no other matters which are required to be disclosed in accordance with Rule 17 and Schedule 2(g) of the AIM Rules.
| Treveria Asset Management Limited Damian Wisniewski / Chris Kingham / David Hunter | +44 (0)20 7667 1413 |
| Citigroup (NOMAD to the Company) Alex Carter | +44 (0)20 7986 4000 |
| Financial Dynamics Stephanie Highett / Richard Sunderland | +44 (0)20 7831 3113 |
AIM rule 17 Disclosure:
Nicholas Cournoyer is, or has been, a director of the following companies in the last five years:
| Current | Previous |
| Montpelier Asset Management Limited Montpelier Investment Management LLP MCP LP Montpelier Global Funds Limited Montpelier Special Funds Limited Tamweel Mortgage Finance | Montpelier Funds Plc (resigned) Netia S.A. (resigned) |
Rolf Elgeti is, or has been, a director of the following companies in the last five years:
| Current | Previous |
| Elgeti Ashdown Advisers Limited TAG Immobilien | None |
Michael Neubürger is, or has been, a director of the following companies in the last five years:
| Current | Previous |
| Neubürger GmbH | Deutsche Wohnen AG Rhein-Pfalz Wohnen GmbH Rheinmosel Wohnen GmbH Rhein-Nahe Wohnen GmbH Rhein-Main Wohnen Gmbh MT Wohnen GmbH Main-Taunus Wohnen GmbH& Co KG |