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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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:       +352 26 493 412                                         
   Fax:         +352 27 860 722                                         
   E-mail:      ir@ado.properties                                       
   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