FOR IMMEDIATE RELEASE
14 April 2023
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
Directorate change
Globalworth, the leading office investor in Central and Eastern Europe, announces that Panayiotis (Panico) Theocharides has been appointed as a Non-Executive Director with immediate effect. This appointment has been made pursuant to the rights of Growthpoint Properties Limited ("GRT"), as set out in the Articles of Incorporation of the Company. Mr Theocharides replaces George Muchanya, who has resigned with immediate effect, as one of GRT's representatives on the Board. Mr Theocharides also replaces Mr Muchanya as a member of the Nomination Committee of the Board.
The composition of the Board remains effectively unchanged, with one executive director and nine non-executive directors (of which seven, including the chair, are considered to be independent in accordance with the UK Corporate Governance Code).
Panico currently serves as Group Head of Investments at GRT and has over 20 years of executive leadership experience focused on listed real estate investment trusts and the investment banking advisory industry in South Africa and currently serves as a non-executive director of Capital & Regional plc (LSE: CAL) and Growthpoint Properties Australia (ASX: GOZ).
Panico has extensive executive experience having held senior roles including Head of Property Advisory, Corporate Finance at Investec Bank Limited in South Africa, Joint CEO of Annuity Properties Limited (a former JSE listed REIT) and CEO of Annuity Asset Managers and Annuity Property Managers. Prior to this, Panico was Head of Corporate Finance at Sasfin Bank and a member of its Executive Committee. Panico also co-founded Tenurey BSM (Pty) Ltd, an independent property advisory business providing corporate finance and property advisory services to JSE-listed and large private property companies.
Additional Information
In accordance with the AIM Rules, the following information required to be disclosed in relation to the director 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
Paniyiotis Theocharides, aged 53
Current beneficial shareholding in the Group
None
Current directorships
Growthpoint Properties Limited
Capital & Regional PLC
Glenrock Holdings (Pty) Ltd
Glenrock Properties (Pty) Ltd
Irini (Pty) Ltd
Kosmos Capital
Speg 888 Investments (Pty) Ltd
Tenurey Bsm Broking (Pty) Ltd
Tenurey Bsm Investments (Pty) Ltd
The Panico Theocharides Family Trust
1fetch (Pty) Ltd
Andico Properties (Pty) LtdDunrose Investments 207 (Pty) Ltd
Tidal Sea Properties 9 (Pty) Ltd
Tlotlisa Financial Services (Pty) Ltd
Tlotlisa Holdings Ltd
Former Directorships (previous five years)
Price City Investments (Pty) Ltd
Tenurey Bsm (Pty) Ltd
Transcend Residential Property Fund Limited
Westbrooke Host 2019 Ltd
Westbrooke Alto 2018 Ltd
Westbrooke Stac 2018 Ltd
Westbrooke Stac 2019 Ltd
Westbrooke Stac 2020 Ltd
Westbrooke Stac 2021 Ltd
For further information visit www.globalworth.com or contact:
Enquiries
| Stamatis Sapkas Chief Financial Officer
| Tel: +40 732 800 000 |
| Panmure Gordon (Nominated Adviser and Broker) Dominic Morley
| Tel: +44 20 7886 2500 |
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 Poland and Romania. Globalworth acquires, develops and directly manages high-quality office and industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by over 260 professionals across Cyprus, Guernsey, Poland and Romania, a combined value of its portfolio is €3.2 billion, as at 31 December 2022. Approximately 96.4% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of over 690 national and multinational corporates. In Poland Globalworth is present in Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice, while in Romania its assets span Bucharest, Timisoara, Constanta, Pitesti, Arad, Oradea and Targu Mures.
For more information, please visit www.globalworth.com and follow us on Facebook, Instagram and LinkedIn.
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