DGAP-News: Prime Office REIT-AG / Key word(s): Change of
Personnel/Contract
Prime Office REIT-AG: Supervisory Board extends senior executive
contracts of Claus Hermuth and Alexander von Cramm
05.12.2011 / 11:58
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Prime Office REIT-AG: Supervisory Board extends senior executive contracts
of Claus Hermuth and Alexander von Cramm
Munich, 5. December 2011. The Supervisory Board of Prime Office REIT-AG
(symbol: PMO, ISIN DE000PRME012), a leading property firm focusing on
investments in high-quality office properties in Germany, has extended the
contract of CEO Claus Hermuth by another five years. The contract of CFO
Alexander von Cramm has been extended by another three years.
'The long-term extension of the two board members' contracts is testament
to the executives' outstanding achievements since the foundation of the
Company in 2007 as well as during the preparation and execution of the IPO
of Prime Office REIT-AG this year. We are pleased that Mr Hermuth and Mr
von Cramm are willing to continue building the Company's successful history
and delivering on the growth targets together', says Prof. Dr. h.c. Roland
Berger, Chairman of the Supervisory Board of Prime Office REIT-AG.
The contract of Prime Office REIT-AG board member Heinz-Theo Tetsch, who
focuses mainly on financings, will expire at his own request in mid 2012.
'The Supervisory Board thanks Mr Tetsch for the dedicated and trusting
cooperation during the foundation and building of the Company', Prof. Dr.
h.c. Roland Berger continued. The position will not be filled again.
Instead, CFO Alexander von Cramm will assume Mr Tetsch's responsibilities
after Mr Tetsch steps down.
Contact details
Prime Office REIT-AG
Richard Berg
Director
Investor Relations / Corporate Communications
HopfenstraÃe 4
80335 Munich
Telephone +49. 89. 710 40 90 40
Facsimile +49. 89. 710 40 90 99
Email richard.berg@prime-office.de
About Prime Office REIT-AG
Prime Office REIT-AG (Symbol: PMO, ISIN DE000PRME012) with headquarters in
Munich is a leading property firm focusing on investments in high quality
office buildings in Germany as well as their facility and property
management. The company's portfolio consists of 14 office properties in
central locations across major cities and conurbations in Western Germany
with a total useable area of approximately 385,000 square metres. According
to a valuation performed by the property surveyor CB Richard Ellis, the 14
properties had a total market value of 970 million Euros as at 31 March
2011. The Prime Office property portfolio consists exclusively of
individual buildings in premium locations. All holdings are select modern
office properties with an attractive architecture and high building
quality. The portfolio is broadly diversified across locations and tenants.
The properties are rented long-term to high credit-quality tenants. Prime
Office REIT-AG intends to generate stable long-term rental income using a
return-oriented approach to managing the existing portfolio based on broad
property, location and tenant diversification. Rental income is also
expected to grow consistently through the addition of suitable individual
properties. The company plans to become a leading specialised REIT for
prime office properties in Germany.
For additional information on Prime Office REIT-AG please visit us in the
Internet on:www.prime-office.de
End of Corporate News
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Language: English
Company: Prime Office REIT-AG
HopfenstraÃe 4
80335 München
Germany
Phone: +49 (0)89 7104090 40
Fax: +49 (0)89 7104090 99
E-mail: richard.berg@prime-office.ag
Internet: www.prime-office.ag
ISIN: DE000PRME012
WKN: PRME01
Listed: Regulierter Markt in Frankfurt (Prime Standard), München,
Stuttgart; Freiverkehr in Berlin, Düsseldorf
End of News DGAP News-Service
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148635 05.12.2011
DGAP-News: Prime Office REIT-AG: Supervisory Board extends senior executive contracts of Claus Hermuth and Alexander von Cramm
| Source: EQS Group AG