Directorate Change, 22-October-2008
New Europe Property Investments PLC
Directorate Change
Appointment of Director
The Company is pleased to announce the appointment of Desmond de Beer as an additional non-executive director. Mr de Beer, aged 47, joins the board with immediate effect.
Mr de Beer is a beneficiary of The Suni Trust, owns 50% of Optimprops 3 (Pty) Limited and currently directly and indirectly holds 4.7% of Resilient Property Income Fund Limited and 0.6% of Capital Property Fund. Resilient Property Income Fund Limited has a 11.3% shareholding in Capital Property Fund and is the 100% parent company of Diversified Property Fund Limited, which in turn is the 100% parent company of Diversified Property 2 (Pty) Ltd.
The interest of the various entities named above in the capital of the Company is as follows:
| Number of ordinary shares | Percentage of share Capital | |
|---|---|---|
| Diversified Properties 2 (Pty) Ltd | 7,392,500 | 27.59% |
| Capital Property Fund | 6,155,000 | 22.97% |
| The Suni Trust | 1,725,000 | 6.44% |
| Optimprops 3 (Pty) Limited | 1,477,500 | 5.51% |
The following are Mr de Beers's current directorships (including close corporation memberships in South Africa) and those held within the last five years:
| Current | Past |
|---|---|
| Beaulieu College Properties (Pty) Ltd | Acucap Investments (Pty) Ltd |
| Beaulieu College (Pty) Ltd | Acucap Properties Ltd |
| Beaulieu School Properties (Pty) Ltd | Acucap Property Management (Pty) Ltd |
| Boudoir Properties CC | Amber Peek Investments (Pty) Ltd |
| Diversified Properties (Pty) Ltd | Autumn Wizard Trading (Pty) Ltd(1) |
| Diversified Properties 2 (Pty) Ltd | Bardesgra CC |
| Diversified Property Fund Limited | Casadobe Props 75 (Pty) Ltd |
| Fortress Asset Managers (Pty) Ltd | King Bee Properties (Pty) Ltd(1) |
| Hollyrood Investments (Pty) Ltd | Sunset Bay Home Owners Association |
| Indian Gold Investments (Pty) Ltd | Sycom Property Fund Managers Ltd |
| Kyalami Preparatory Holdings (Pty) Ltd | Tiradeprops 152 (Pty) Ltd(2) |
| Kyalami Preparatory School (Pty) Ltd | |
| New Heights 471 (Pty) Ltd | |
| NMGP Holdings (Pty) Ltd | |
| Optimprops 3 (Pty) Ltd | |
| Pangbourne Properties Limited | |
| Property Fund Managers Ltd | |
| Pure Diamond Investments (Pty) Ltd | |
| Resilient Capital (Pty) Ltd | |
| Resilient Properties (Pty) Ltd | |
| Resilient Properties 2 (Pty) Ltd | |
| Resilient Property Income Fund Ltd | |
| Resilient Property Management (Pty) Ltd | |
| Southern Palace Investments 19 (Pty) Ltd |
Notes
1. These are private South African companies which are now in voluntary liquidation.
2. This is a private South African company which has now been deregistered.
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 |
