DGAP-News: Corestate's Annual General Meeting appoints a new Supervisory Board - Georg Allendorf elected Chairman of the Supervisory Board

Corestate's Annual General Meeting appoints a new Supervisory Board - Georg Allendorf elected Chairman of the Supervisory Board


Frankfurt, 5 June 2020. Corestate Capital Holding S.A. (Corestate), a leading European real estate investment manager, today elected a new Supervisory Board at its online Annual General Meeting. Dr. Georg Allendorf, Dr. Gabriele Apfelbacher, Timothy Blackwell, Marc Drießen and Olaf Klinger have been appointed members of the Supervisory Board. At the subsequent constituent meeting, Dr. Georg Allendorf was unanimously elected the new Chairman of the Supervisory Board, Timothy Blackwell as his Deputy and Olaf Klinger as Chairman of the Audit Committee.

Dr. Georg Allendorf comments: "I am very much looking forward to bringing my previous experience in institutional real estate and asset management to such a dynamic company. Despite the current challenges that Corestate also has to deal with responsibly, I believe that the fundamental market drivers such as urbanization, demographic changes, demand for contemporary living space and, above all, the continuing high demand for profitable investment solutions in a zero-interest environment are fully in tune. In particular, larger companies which provide innovative and tailored product answers in addition to professional service will emerge from this crisis significantly stronger."

Lars Schnidrig, CEO Corestate: "The extensive and long-standing expertise of our new Supervisory Board members will provide us with important strategic impetus in the future. Furthermore, the enlargement of the Supervisory Board goes hand in hand with a consistent evolution of our standards in corporate governance and transparency." Schnidrig adds: "Today's step of not paying a dividend for the past fiscal year as a one-off event was not easy for us, however it does ensure the necessary security and entrepreneurial flexibility for the coming quarters. This will allow us to position Corestate in the best possible way for the period after the crisis so that it can then return to its accustomed attractive levels of growth and profitability."

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About Corestate Capital Holding S.A.

Corestate Capital Holding S.A. (Corestate) is an investment manager and coinvestor with around EUR 28 billion in assets under management. As a fully integrated real estate platform, Corestate offers its clients combined expertise in the areas of investment and fund management as well as real estate management services. The company operates as a respected business partner of institutional clients and wealthy private investors internationally. Corestate is headquartered in Luxembourg and has 42 offices, e.g. in Frankfurt, London, Paris, Madrid, Zurich and Amsterdam. The company employs around 800 people and is listed in the Prime Standard (SDAX) of the Frankfurt Stock Exchange. Further information may be found at www.corestate-capital.com.

Forward-looking statements

This press release may contain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of our company and the estimates given here. These factors include those discussed in our public reports, which are available on our website at www.corestate-capital.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.