Arricano Real Estate Plc: Proposed appointment of acting CEO (868021)
04 September 2019 - 4:00PM
UK Regulatory
Arricano Real Estate Plc (ARO)
Arricano Real Estate Plc: Proposed appointment of acting CEO
04-Sep-2019 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
This announcement contains inside information for the purposes of Article 7
of EU Regulation 596/2014.
4th September 2019
Arricano Real Estate Plc
("Arricano" or the "Company")
Proposed appointment of acting CEO
On 11 July 2019, Arricano announced that Mykhailo Merkulov would act as its
Chief Executive Officer until 8 September 2019.
The Board yesterday agreed to appoint Mrs Ganna ("Anna") Chubotina,
currently the Company's Director of Retail Leasing Department, to succeed Mr
Merkulov as Acting CEO (but not a Director of the Company) upon the
satisfactory completion of due diligence enquiries by the Company's NOMAD. A
further announcement will be made at that time.
The Board anticipates a permanent appointment within three months, upon the
conclusion of its candidate appraisal process.
Anna (aged 40) has over 17 years' experience in the field of commercial real
estate, nine of which were at JLL Ukraine. Companies she has worked with
include SvitLand Ukraine LLC, King Cross Group, DCH Real Estate and Kray
Property. Anna graduated from the Romano-Germanic Philology and World
Literature faculty of M. P. Dragomanov National Pedagogical University and
also has a degree in Economics and Marketing from the Kyiv National
University of Trade and Economics.
The Board wishes to place on record its gratitude to Mr Merkulov for his
significant contribution to the Group and wishes him well in his future
endeavours.
Commenting on the proposed changes, Urmas Somelar, Chairman of Arricano,
said:
"Arricano has made significant progress over the five years of Mr Merkulov's
engagement, having gained market leading positions and a stable reputation
for its projects.
The professional approach of Mr Merkulov as CEO contributed to the
development of the management team, enhanced the company's portfolio,
delivering double digit growth of Net Operating Income, excellent occupancy
rates and a significant increase in NAV from the end of 2014. Arricano plans
to continue its development, focusing on new projects to be opened in the
coming years."
Mykhailo Merkulov added:
"My five years in Arricano were difficult, but fruitful. I wish Anna and her
team every success in growing and maintaining the successful track record of
the Company".
Enquiries:
Arricano Real Estate plc Tel: +38 044 594 9471
Urmas Somelar
Nominated Adviser and Broker: Tel: +44 (0)20 7220 1666
WH Ireland Limited
Chris Fielding
Financial PR: Tel: +44 (0)20 3151 7008
Novella Communications Limited
Tim Robertson/Fergus Young
ISIN: CY0102941610
Category Code: BOA
TIDM: ARO
LEI Code: 213800F8AMPULEKXFX22
OAM Categories: 3.1. Additional regulated information required to be
disclosed under the laws of a Member State
Sequence No.: 18885
EQS News ID: 868021
End of Announcement EQS News Service
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