DGAP-News: Information and explanations of the issuer regarding this announcement: Changes in the Managing Board of Coreo AG

Information and explanations of the issuer regarding this announcement:
Changes in the Managing Board of Coreo AG

Frankfurt am Main, 15. Februar 2022 - Marin N. Marinov, CEO of Coreo AG, informed the Supervisory Board that he will no longer be available for an additional term on the Management Board. In the future, he will devote himself to other tasks outside of Coreo.

Today, Mr Marinov and the Supervisory Board of Coreo AG agreed to terminate Mr Marinov's Management Board contract by mutual consent with effect from 28 February 2022. Mr Marinov's contract was originally due to expire on 31 December 2022. Mr Marinov will also resign from his management mandates at all subsidiaries and associated companies of Coreo AG as of 28 February 2022.

Since May 2016, Marin N. Marinov has been CEO of Coreo AG and has played a key role in shaping, successfully managing and implementing the transformation of the former nanotechnology investment company into a real estate company. The group comprises 15 subsidiaries and associated companies and is now established as a dynamically growing developer of residential and commercial real estate portfolios in Germany. The property portfolio was almost doubled in the past financial year with the largest acquisition volume so far. During the transitional period, Mr Marinov will continue to be available to the company as an advisor.

Stefan Schütze, Chairman of the Supervisory Board of Coreo AG: "The Supervisory Board thanks Mr Marinov for his extraordinary commitment and the work he has done over the last five years in developing Coreo AG. He is leaving behind a very well positioned company both in terms of the real estate portfolio and the financial situation. We wish Mr Marinov all the best for his future career and private life."

The Supervisory Board has also appointed Dennis Gothan as a new Managing Board member of Coreo AG with effect from 01.03.2022, as reported in today's adhoc release. Mr Gothan has 14 years of experience in the area of real estate management and worked, among others, for eight years at Strabag in the area of asset management as well as at FBW Immobilien & Grundbesitz as head of real estate management. Coreo AG is gaining a proven real estate expert with Mr Gothan, who will enrich and further develop the company with his know-how and experience.

In addition, the Managing Board is to be expanded by a Chief Financial Officer to a total of two members. The Supervisory Board is working to recruit this position in the short term.
 

About Coreo AG
Coreo AG (WKN: A0B9VV), with headquarters in Frankfurt am Main, is a dynamically growing real estate company with a focus on German commercial and residential real estate. The company invests in properties with significant potential to increase in value where there is a requirement for development, preferably in medium-sized centres. The objective is to build up an efficiently managed, high-yield property portfolio.