Atrium European Real Estate Limited
EANS-Adhoc: APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER
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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER
04.10.2011
APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER
Jersey, 4 October 2011. Atrium European Real Estate Limited ("Atrium" or the
"Company") (VSE/Euronext: ATRS), one of the leading real estate companies
focused on shopping centre investment, management and development in Central and
Eastern Europe, announces the appointment of David Doyle as chief financial
officer, with effect from 1 January 2012. Mr Doyle will replace Robert Bolier
who is leaving the Company to pursue other business interests. Robert will
remain with the Company until after Mr Doyle's arrival to ensure an orderly
handover.
David Doyle joins the Company from Prologis, Inc. (NYSE: PLD), where he has been
European chief financial officer since July 2009. At Prologis Mr Doyle was a
member of the European Executive Committee and led a team of over 100 finance
professionals across 10 countries. In this role, Mr Doyle held CFO
responsibility for three separate ownership structures and balance sheets with
total assets under management of over E7 billion including: the European
subsidiaries of Prologis, a S&P500 REIT; Prologis European Properties, a
Euronext (Amsterdam) quoted open-ended property fund (Euronext: PEPR); and
Prologis European Properties Fund II, a non-listed open-ended property fund.
Prior to Prologis, Mr Doyle was chief financial officer at Colliers CRE plc
(AIM: COL), one of the leading commercial real estate consultancy groups in the
UK. At Colliers CRE he was responsible for all finance and operational risk
management affairs, as well as working alongside the group's chief executive to
develop and implement strategy, which included capital raising and acquisitions.
Previously, Mr Doyle was the chief financial officer and an executive board
director at Egg plc, one of the UK's leading internet banks. From 1996 to 2003,
Mr Doyle held various senior finance roles at Prudential plc, most latterly head
of corporate finance, with responsibility for all group level mergers,
acquisitions, dispositions and associated strategic activities. His
achievements included leading the NYSE listing and concurrent £200 million U.S.
equity raising for Prudential plc.
Mr Doyle is a Fellow of the Institute of Chartered Accountants in Australia and
he holds a Bachelor of Business degree from the Royal Melbourne Institute of
Technology.
Commenting, Rachel Lavine, CEO of Atrium said: "Having undergone a significant
amount of restructuring over the past few years, Atrium has reached a transition
point where the focus is now firmly on growth. David's extensive experience in
both the real estate sector and of capital markets make him the ideal candidate
to see us through this next phase of Atrium's evolution and into the future. It
therefore gives me great pleasure to welcome him to the Company.
"I would also like to take this opportunity to thank Robert for all of his work
in restructuring and stabilising the Company since his appointment in January
2009. His contribution in putting Atrium on such a stable platform for growth
has been invaluable and I wish him all the best for the future."
For further information:
FTI Consulting Inc.: +44 (0)20 7831 3113
Richard Sunderland
Will Henderson
Richard.sunderland@fticonsulting.com
About Atrium European Real Estate Limited
Atrium is a leading real estate company focused on shopping centre investment,
management and development in Central and Eastern Europe. As at 30 June 2011 the
Group owned 153 shopping centres, with a market value of E1.77 billion,
diversified across eight countries with a total gross lettable area of 1.14
million sqm and an occupancy rate of 96.6%. At the same time the Company had a
cash position of E210 million against borrowings of E453 million.
Gross rental income from investment properties for the year ended 31 December
2010 was E151.5 million and was E85.1 million for the six months to 30 June
2011, while net rental income for the same periods was E134.4 million and E78.0
million (up 19.4% over H12010) respectively. The operating margin at 30 June
2011 was 91.7% compared to the full year 2010 figure of 88.8% and around 81% in
2009 and 71% in 2008, when the current management began running the company.
Geographically, the Group's focus is principally concentrated in Poland, the
Czech Republic and Russia with a presence in Hungary, Romania, Latvia and
Slovakia. In addition, the Company has a development portfolio with a market
value of E641 million as at 30 June 2011.
The Company is based in Jersey and dual listed on the Vienna and Euronext
Amsterdam Stock Exchanges under the ticker ATRS.
This press release appears as a matter of record only and does not constitute an
offer to sell or a solicitation of an offer to purchase any security.
Atrium is established as a closed-end investment company domiciled in Jersey.
Atrium is registered with the Dutch Authority for the Financial Markets as a
collective investment scheme which may offer participations in The Netherlands
pursuant to article 2:66 of the Financial Supervision Act (Wet op het financieel
toezicht). All investments are subject to risk. Past performance is no guarantee
of future returns. The value of investments may fluctuate. Results achieved in
the past are no guarantee of future results. The Dutch and Austrian paying agent
of Atrium is Kempen & Co. N.V., Beethovenstraat 300, 1077 WZ Amsterdam, the
Netherlands.
Further inquiry note:
For further information:
FTI Consulting Inc.: +44 (0)20 7831 3113
Richard Sunderland
Will Henderson
Richard.sunderland@fticonsulting.com
end of announcement euro adhoc
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issuer: Atrium European Real Estate Limited
Seaton Place 11-15
UK-JE4 0QH St Helier Jersey / Channel Islands
phone: +44 (0)20 7831 3113
mail: Richard.sunderland@fd.com
WWW: http://www.aere.com
sector: Real Estate
ISIN: JE00B3DCF752
indexes: Standard Market Continuous
stockmarkets: official market: Wien
language: English