APPROVED INTERIM REPORTS OF THE LISTED FUNDS TECLA AND OLINDA AND SHAREHOLDERS’ MEETING HELD TODAY

Apr 29 2014

BOARD OF DIRECTORS’ MEETING HELD TODAY

  • APPROVED INTERIM REPORTS AT 31 MARCH 2014
    OF THE LISTED FUNDS TECLA AND OLINDA

SHAREHOLDERS’ MEETING HELD TODAY

  • APPOINTED NEW BOARD OF DIRECTORS
  • CONFIRMED NUMBER OF INDEPENDENT DIRECTORS
    (5 BOARD MEMBERS OUT OF 7)
  • CONFIRMED ALBERTO ROSSETTI AS CHAIRMAN, VALTER LAZZARI
    AS DEPUTY CHAIRMAN, PAOLO SCORDINO AS CEO

Milan, 29 April 2014 – The Board of Directors of Prelios Società di Gestione del Risparmio S.p.A., which held its meeting on today’s date, approved the interim reports at 31 March 2014 of the funds Tecla and Olinda, closed-end real estate mutual funds with contributed assets, listed with Borsa Italiana on the MIV segment and managed by the Company.

It should be noted that at 31 December 2013 Tecla Fondo Uffici recorded an annual average IRR of 10% since its placement, doubling the target IRR of 5.5%, while Olinda Fondo Shops generated a 5% annual average IRR since its placement, in line with target, also set at 5.5%.

The interim reports at 31 March 2014 of Tecla and Olinda funds will be made available to the public at the offices of Prelios SGR and of the Depositary Bank State Street Bank, and on the websites www.preliossgr.com, www.fondotecla.com and www.fondo-olinda.com, pursuant to article 17 of the Fund By-Laws.

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The ordinary Shareholders’ Meeting of Prelios Società di Gestione del Risparmio S.p.A. was also held today and appointed the new Board of Directors.

The Shareholders’ Meeting confirmed the number of Board members who are seven, five of whom are independent directors and also confirmed Alberto Rossetti as Chairman and Valter Lazzari as Deputy Chairman who, together with the CEO Paolo Scordino, may continue the company re-launch process started last year.

Following today’s appointments, Prelios SGR Board of Directors is composed as follows:

  • Alberto Rossetti, Independent Director and Chairman
  • Valter Lazzari, Independent Director and Deputy Chairman
  • Paolo Scordino, Director and CEO
  • Enrico Cervone, Independent Director
  • Claudio D’Eletto, Independent Director
  • Pietro Mazzi, Director
  • Umberto Tombari, Independent Director

Their office term has been fixed in 3 years and, consequently, until the Shareholders’ Meeting called for the approval of the financial statements at 31 December 2016.

The Directors’ CVs are available on the Company website at www.preliossgr.com.

Prelios SGR is one of the leading Italian real estate fund management companies. The value of asset under management (AuM) is equal to nearly 3.7 billion euro (at 30 June 2013), divided into 25 funds (3 of which  established in the first quarter of 2014) .  Nearly 36% of fund investors are financial institutes and investment funds, nearly 19% are corporate clients, and the residual part includes foundations and pension funds, insurance companies, public entities and retail investors.  Prelios SGR manages about 1,700 properties, located primarily in Milan and the province of Milan (21%), Rome and the province of Rome (28%) and Turin (10%).  The asset classes most representative of the properties under Prelios SGR management are the following: office (44%), industrial and logistics (25%), retail & entertainment (19%) and residential (nearly 7%).

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For further information:

Prelios SGR Press Office- Tel. +39/02/6281.415471 - Mail: pressoffice@preliossgr.com

Prelios SGR Investor Relations - Tel. +39/02/6281.4104 - Mail: ir@prelios.com

www.preliossgr.com; www.fondotecla.com; www.fondo-olinda.com