Appointment of director, 15:20 28-Nov-07
New Europe Property Investments PLC
28 November 2007
New Europe Property Investments PLC ("the Company")
Appointment of director
The Company is pleased to announce the appointment of Corneliu-Dan Pascariu as an additional non-executive director. Mr Pascariu, aged 57, joins the board with immediate effect.
The following are Mr Pascariu's current directorships and those held within the last five years:
| Current Directorships | Past Directorships |
|---|---|
| Unicredit Tiriac Bank SA | Bank Austria Creditanstalt SA |
| CAIB Securities SA | HVB Bank Romania SA |
| CAIB Financial Advisors Ltd. | HVB Tiriac Bank Romania SA |
| HVB Banca Pentru Locuinte SA | Transfond SA |
| HVB Leasing Ltd. | Rompetrol SA |
| The Rompetrol Group Ltd. | |
| Heritage Restaurant SA |
A civil case brought against Mr Pascariu in Romania has been pending since 1996. The case relates to a dispute over the payment of an amount authorised by a customer of the Romanian Bank for Foreign Trade and made by the bank on behalf of its client. Mr Pascariu was at the time the Chief Executive Officer of the Romanian Bank for Foreign Trade and the civil case was brought against him in this capacity alongside a number of other exectuives of the bank who had direct operational responsibility over the relevant client account. Legal advice sought has indicated that Mr Pascariu discharged his duties properly at the time and that the charges brought are without foundation.
Save for the information disclosed above there is no other information falling to be disclosed under Schedule Two, paragraph (g) of the AIM Rules.
For further information please contact:
| Martin Slabbert New Europe Property Investments plc |
+40 74 432 8882 |
|---|---|
| Azhic Basirov Smith & Williamson Corporate Finance Limited |
+44 20 7131 4000 |
