DGAP-News

ADO Properties S.A.: Jörg Schwagenscheidt to resign from his board position

DGAP-News: ADO Properties S.A. / Key word(s): Change of Personnel
ADO Properties S.A.: Jörg Schwagenscheidt to resign from his board position

25.05.2016 / 18:31
The issuer is solely responsible for the content of this announcement.

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Jörg Schwagenscheidt (52) will resign from his position as non-executive
director of ADO Properties S.A. by mutual consent no later than 30
September 2016 to rule out potential conflicts of interest.

Jörg Schwagenscheidt serves as CEO of PMM Partners Germany GmbH, a Berlin-
based subsidiary of PMM Partners Ltd., London, since September 2015. PMM
acts as third-party asset manager of Phoenix Spree Deutschland Fund (PSD),
a company listed on the London Stock Exchange. Although there have been no
occurrences to date where a conflict of interest has existed, Jörg
Schwagenscheidt decided to resign his mandate in order to eliminate the
risk of a potential conflict in future.

Jörg Schwagenscheidt will assist the Board of Directors in its search for a
qualified candidate and will resign his position when a successor is
identified, but in any case no later than 30 September 2016.

"While we regret that Jörg Schwagenscheidt will leave us, we do accept and
respect his decision. As non-executive director, Jörg Schwagenscheidt has
supported our company in an important phase during which we set the base
for future growth and successfully continued the development of our
operations. We benefited from his long-term experience and expertise in the
Berlin residential property market. We would like to thank Jörg
Schwagenscheidt for his commitment to ADO Properties, and wish him every
success in the future," said Moshe Lahmani, Chairman of ADO Properties.


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25.05.2016 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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Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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Language: English
Company: ADO Properties S.A.
20 rue Eugène Ruppert
L-2453 Luxembourg
Grand Duchy of Luxembourg
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.ado.immo
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),
Luxembourg; Regulated Unofficial Market in Dusseldorf,
Stuttgart, Tradegate Exchange


End of News DGAP News Service
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466725 25.05.2016