MEINL EUROPEAN LAND ANNOUNCES PETER BAGULEY AS INDEPENDENT DIRECTOR
St Helier Jersey (euro adhoc) -
ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
companies
Meinl European Land Limited ("MEL" or
the "Company") announced today that Peter Baguley, currently property
director at J Sainsbury plc and formerly property and investor
relations director at Boots PLC (now Alliance Boots), both
London-listed FTSE 100 companies, has agreed to become an independent
non-executive director of MEL. Mr Baguley is also on the advisory
boards of the British Council of Shopping Centres and Retail Week
(the UK´s leading retail trade magazine) and is a member of the Bank
of England Property Forum.Mr Baguley´s appointment will take place, and is conditional upon
closing of the investment in the Company by CPI/Gazit Holdings
Limited ("CPI/Gazit"), a joint venture between Gazit-Globe Ltd
("Gazit"), a multinational real estate investment company listed on
the Tel Aviv Stock Exchange (TASE:GLOB), and CPI Austria Holdings
Limited ("CPI Austria"), a wholly-owned subsidiary of CPI Capital
Partners Europe LP (and its parallel funds), a real estate fund
advised by Citibank International plc through its business unit, Citi
Property Investors. Closing of the investment is subject to a number
of conditions, including certificate/shareholder approvals which will
be sought at the extraordinary general meeting of the Company to be
held on 16 July 2008.In addition, upon closing of the investment, the Company´s name will be changed to Atrium European Real Estate and an internal management structure will be adopted with a new management team.
The appointment of Mr Baguley to the board is subject to appropriate Jersey Financial Services Commission approval requirements.
Commenting on the appointment, Georg Kucian, chairman of MEL, said: "We are pleased that Peter has agreed to join the board of the Company. We are confident that Peter´s experience in managing retail properties will help to develop MEL´s position as a leading property development company in Central and Eastern Europe."
Rachel Lavine, Proposed CEO of Atrium, said: "Peter´s appointment will bring an extra dimension to the Board of MEL. Not only does he have in-house experience of retail asset management, his previous experience as Investor Relations Director at Boots PLC will help to ensure the highest standards of corporate governance and investor communications at the Company."
Peter Baguley said: "I am excited about joining MEL at this point in the Company´s development. The investment by CPI/Gazit, coupled with the vast on-the-ground experience these two global organizations have, is compelling."
end of announcement euro adhoc
Further inquiry note:
Contacts for enquiries:
London Austria
Citigate Dewe Rogerson Trimedia
Michael Berkeley Bernhard Hudik
Sally Marshak +43 676 842 44381
+44 20 7638 9571 +43 1 5244 300
For questions pertaining to Peter Baguley:
London Austria
Financial Dynamics Dr. Viktor Bauer PR GmbH
Stephanie Highett Dr Viktor Bauer
Richard Sunderland Mag. Anita Köninger
Laurence Jones viktor.bauer@viktorbauer.com
+44 (0)20 7831 3113 +43 (1) 320 95 45 18
Branche: Real Estate
ISIN: AT0000660659
WKN: 066065
Index: Standard Market Continous
Börsen: Wiener Börse AG / official market