– GUERNSEY, Saint Peter Port – Globalworth Real Estate Investments Limited (AIM:GWI) is pleased to announce the appointment of Bruce Buck as a Non-Executive Director, with effect from today.
Mr Buck has been practicing law in Europe since 1983, and was Managing Partner in Europe and latterly Of Counsel for law firm Skadden, Arps, Slate, Meagher and Flom, until retiring from this role in July 2017.Mr Buck has been involved in work in Central and Eastern Europe since 1990, comprising a broad range of mergers, acquisitions and capital markets transactions, including IPOs and high-yield transactions. Mr Buck is the Chairman and a Director of Chelsea FC PLC, and also Senior Independent Non-Executive Director of Petropavlovsk PLC.
Geoff Miller, Chairman of Globalworth, commented: “We are delighted to welcome Bruce to the Board of Globalworth at this time of accelerating momentum as we strive to establish Globalworth as the region’s leading office investor, active in Poland and Romania, and to be the partner of choice for the wide variety of high-quality, multi-national tenants expanding in this region. Bruce’s considerable experience in business across the CEE region and knowledge of capital markets transactions will be of enormous benefit to the Company.”
This appointment is made pursuant to the articles of incorporation of the Company which provide that Ioannis Papalekas is entitled to appoint a non-executive director for every 8% of the issued share capital of the Company held by him.
Globalworth is a real estate investment company active in Central and Eastern Europe, and has become the leading office investor in the Romanian real estate market. Globalworth acquires, develops and directly manages high-quality office and logistics/light-industrial real estate assets in prime locations, through which it benefits from a strong rental income profile from high quality tenants from around the globe. With approximately 70 professionals managing it, Globalworth’s portfolio, as at 30 September 2017, was valued in excess of €1 billion, of which 90% is in income-producing assets and over 80% in the office sector. Globalworth has a strong and supportive investor base, having been listed on the AIM Market of London Stock Exchange since 2013 and in 2017 issued its debut Eurobond on the Irish and Bucharest stock exchanges.
On 6 December 2017, Globalworth completed its strategic investment in Griffin Premium R.E.. N.V. (“GPRE”), with Globalworth holding a 67.9% shareholding in GPRE. GPRE is a pure-play Polish real estate platform that primarily owns high-quality office and mixed-use assets located in Warsaw and across a number of other key cities, notably Wroclaw, Lodz, Krakow and Katowice. Its portfolio comprises six office and three mixed-use (office and retail) properties, and benefits from a further pipeline of contracted acquisitions. For more information please refer to related regulatory announcements.
For more information : http://www.globalworth.com
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