DGAP-News: TLG IMMOBILIEN AG / Key word(s): Change of Personnel/Real Estate
Peter Finkbeiner and Niclas Karoff to leave TLG IMMOBILIEN on 31 October 2018,
Berlin, 14 September 2018 - Due to different opinions regarding the future business strategy of the company, the two members of the Management Board Peter Finkbeiner and Niclas Karoff and the Supervisory Board of TLG IMMOBILIEN AG have mutually agreed to terminate their collaboration with effect from 31 October 2018. As reported previously, they will be succeeded by Gerald Klinck as Chief Financial Officer and Jürgen Overath as Chief Operating Officer. In order to ensure an optimal transfer of business, they will start in their new positions on Monday 17 September 2018.
Michael Zahn, Chairman of the Supervisory Board, comments: "Peter Finkbeiner and Niclas Karoff were crucial in shaping and characterising the exceptionally successful development of TLG IMMOBILIEN AG over the past few years and as such, these developments are regrettable. Significant milestones have been reached under their leadership, especially the successful IPO in 2014 and the subsequent positioning of TLG IMMOBILIEN AG as a leading commercial real estate platform in Germany. The Supervisory Board recognises and thanks both men for their extraordinary merits and work for the company. We wish Peter Finkbeiner and Niclas Karoff all the best and every success for the future."
Peter Finkbeiner became Managing Director of TLG IMMOBILIEN GmbH in 2013 and joined the Management Board of TLG IMMOBILIEN AG in September 2014. In his previous role as Managing Director of Hudson Advisors, he was in charge of asset management for Lone Star in Europe. Prior to this, he worked in credit, corporate finance and private equity for a number of years, including with the accounting and consulting firm KPMG, DZ Equity Partner and Deutsche Bank. Additionally, he is a member of the Advisory Board of the European Public Real Estate Association (EPRA).
Niclas Karoff joined the management of TLG IMMOBILIEN GmbH in 2010 and has also been a member of the Management Board of the company since September 2014. In his previous role as Managing Director of HSH Real Estate AG (HSH Nordbank group), he was responsible for finance and asset management. Prior to that, he worked for a number of years in leading roles in M&A and corporate finance, including for the accounting and consulting firm BDO. He is also the spokesman for the Regional Board of the German Property Federation (ZIA) for Berlin and the new German States.
ABOUT TLG IMMOBILIEN AG
TLG IMMOBILIEN AG is a listed leading commercial real estate company in Germany that has been synonymous with real estate expertise for over 25 years. TLG IMMOBILIEN AG generates stable rental income and exhibits low vacancy rates, very good building stock and profits from its local employees' excellent market knowledge. As an active portfolio manager, TLG IMMOBILIEN AG is specialised in commercial properties for office and retail use: it focuses on managing a high-quality portfolio mostly comprising office properties in Berlin, Frankfurt/Main, Dresden, Leipzig and Rostock. The company also has a regionally diversified portfolio of retail properties in highly frequented micro-locations. The portfolio also includes seven hotels in Berlin, Dresden, Leipzig and Rostock. TLG IMMOBILIEN AG's properties stand out not only due to their excellent locations but also because of their long-term rental or lease agreements.
As at 30 June 2018, the property value amounted to EUR 3.7 bn. As at the same reporting date, the EPRA Net Asset Value per share amounted to EUR 23.26.
This publication contains forward-looking statements based on current views and assumptions of TLG IMMOBILIEN AG's management and made to the best of knowledge. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause TLG IMMOBILIEN AG's revenues, profitability or the degree to which it performs or achieves its targets, to materially deviate from what is explicitly or implicitly stated or described in this publication. Therefore, persons who obtain possession of this publication should not rely on such forward-looking statements. TLG IMMOBILIEN AG accepts no guarantee or responsibility regarding such forward-looking statements and will not adjust them to future results or developments.
|Company:||TLG IMMOBILIEN AG|
|Phone:||030 - 2470 - 50|
|Fax:||030 - 2470 - 7337|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|