ADO Properties S.A.: Moshe Lahmani to resign from his board position, Co-optation of Moshe Dayan and Dr. Sebastian-Dominik Jais
March 12, 2019 at 06:25 pm
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DGAP-News: ADO Properties S.A. / Key word(s): Personnel
ADO Properties S.A.: Moshe Lahmani to resign from his board position, Co-optation of Moshe Dayan and Dr. Sebastian-Dominik Jais
12.03.2019 / 19:21
The issuer is solely responsible for the content of this announcement.
Today, Moshe Lahmani has resigned from his position as non-executive director and Chairman of the Board of Directors of ADO Properties S.A. with effect from today.
The resignation is a consequence of Shikun and Binui Ltd, Israel, having closed several transactions to sell their shares in ADO Group Ltd, Israel, on March 11, 2019, constituting 30% of the issued and paid up share capital of ADO Group. Moshe Lahmani is CEO of Shikun and Binui Ltd.
ADO Group Ltd. holds a total of 38.21% of the shares in ADO Properties S.A.
Mr. Moshe Dayan was appointed by co-optation by the Board of Directors to succeed Mr. Moshe Lahmani as a new member and Chairman of the Board of Directors. This is a provisional appointment until its ratification and confirmation by the next general meeting of the Company.
Mr. Moshe Dayan (67) is founder and CEO of Dune International Sàrl, Luxembourg and has been CEO of several large companies in Israel for many years.
In addition, the Board of Directors has decided to appoint by co-optation Dr. Sebastian-Dominik Jais (43) as a new member of the Board of Directors. Likewise, this is a provisional appointment until its ratification and confirmation by the next general meeting of the Company.
Mr. Sebastian-Dominik Jais is a partner at Apollo Management International LLP, London and has extensive expertise in real estate financing and has worked for Hudson Advisors Germany GmbH, Frankfurt and Citigroup London.
The Board of Directors of ADO Properties S.A. thanks Mr. Moshe Lahmani for his commitment to ADO Properties and for his responsible and professional work.
"We are proud to have worked with Mr. Moshe Lahmani for many years and thank him very much for his trust and support. We wish him all the best for the future", says Rabin Savion, CEO of ADO Properties.
12.03.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Language:
English
Company:
ADO Properties S.A.
1B Heienhaff
1736 Senningerberg
Luxemburg
Phone:
+352 278 456 710
Fax:
+352 262 634 079
E-mail:
ir@ado.properties
Internet:
www.ado.properties
ISIN:
LU1250154413
WKN:
A14U78
Indices:
SDAX, FTSE EPRA/NAREIT Global Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Germany Index
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, Luxembourg Stock Exchange, SIX
Adler Group SA, formerly known as ADO Properties, is a Luxembourg-based real estate company. The Company operates in Germany, in the residential real estate field with approximately 70,000 residential units, and a development pipeline of approximately 10,000 new flats in Germany. The Company focuses on asset and portfolio management, property and facility management and developing residential properties throughout Germany. The Company operates through two business segments: Residential property management and development. Residential property management offers renting and managing residential properties, the management of tenancy agreements and marketing of residential units with the focus on optimization of rental income. The development side of the business splits into build-to-sell projects and build-to-hold projects.