Last checked at 11 Jun 2012 07:01
11 June 2012
Aisi Realty Public Limited
("the Company" or " Secure Property Development and Investment Limited")
BOARD STRENGTHENED AND TURNAROUND CONTINUED THROUGH APPOINTMENT OF HARIN THAKER AS NON-EXECUTIVE DIRECTOR
Secure Property Development & Investment Limited, formerly Aisi Realty Public Limited*, a South Eastern European focused property and investment company, today announces the appointment of Harin Thaker as a Non-Executive Director of the Company.
Harin, 57, a real estate veteran with over 20 years' industry experience, joins Secure Property from pbb Deutsche Pfandbriefbank AG, a specialised lender in real estate finance and public sector finance, where he held the role of Head of Real Estate Finance International. Harin was previously Chief Executive Officer, Europe, of Hypo Real Estate Bank International (as pbb Deutsche Pfandbriefbank AG was formerly known), where he was instrumental in spearheading the company's investment banking activities across Western and Central & Eastern Europe. Harin was appointed to the Board prior to the company's merger with Hypo Real Estate Bank AG in 2009.
The appointment follows a number of successful turnaround initiatives which have been implemented by the new internal management as part of a wider strategy, to improve the Company's financial strength, and reposition it for future growth.
*The Company's name change to Secure Property Development and Investment Limited is subject to shareholder approval at the next Annual General Meeting.
Lambros Anagnostopoulos, Chief Executive Officer of Secure Property, commented: "To have attracted such a longstanding and well respected real estate professional as Harin as a non-executive board director, and to have access to some of his time, is a real endorsement of the significant financial and operational progress we have made in turning Secure Property around over the last six months. Harin's real estate financing expertise, as well as his extensive experience and contacts in our key markets, will be invaluable in supporting our plans for the Company's future growth and it gives me great pleasure to welcome him to the board."
Harin Thaker added: "Secure Property is a unique, interesting business with significant growth potential, having undergone considerable changes following the introduction of new management, and I am extremely pleased to be joining the Board at such an exciting time in the Company's development."
There is no other information required to be disclosed pursuant to Schedule 2 (g) of the AIM rules.
Enquiries:
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Secure Property Development & Investment Ltd (formerly Aisi Realty Public Ltd) | + 380 44 459 3000 | ||
Lambros Anagnostopoulos | |||
Liberum Capital Limited (NOMAD and Broker) Chris Bowman / Richard Bootle |
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+44 (0)20 3100 2222 | |
FTI Consulting |
+44 (0)20 7831 3113 | ||
Richard Sunderland / Toyah Simpson |
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Notes to Editors
About Secure Property Development and Investment Limited
Secure Property Development and Investment Limited ("SPDI") is a South Eastern European focused property company incorporated in Cyprus. The Company's portfolio comprises the Terminal Brovary logistics park in Kiev (Gross Leasable Area of circa 50,000 sqm), and four development projects at different stages of progression, which have a combined value of €33 m.
Established in 2005, SPDI employs a team of 15 experienced professionals operating across three countries. In August 2011, following a transaction with Narrowpeak Consultants Ltd a new internalised management team was introduced to settle the Company's liabilities and create and execute a strategy for growth. SPDI's shares are publicly traded on the AIM market of the London Stock Exchange (AIM:AISI).
About South East Continent Unique Real Estate Management (SECURE)
South East Continent Unique Real Estate (SECURE) Management ("SECURE") is a private equity platform that manages property investment and development vehicles in South East Europe. SECURE Investments I and II, have invested in residential and mixed-use developments totalling circa 300,000 sqm in Bulgaria, Romania and Serbia. SECURE is domiciled in the European Union with offices in Cyprus and Romania and has an active presence in Bulgaria and Ukraine.
With €250m worth of Assets Under Management (AUM) SECURE employs a team of 16 full time professionals, working across five countries, with a wealth of international experience and a strong track record in the real estate development, investment and finance sectors. SECURE was established in 2007 and, through a conservative and risk management focused approach, has managed to steer its clients through the difficult global economic crisis whilst continuing to add value, having even achieved an increase in the Net Asset Value for its Investment Vehicles since inception.