Directorate Change (5307I)

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RNS Number : 5307I

Squarestone Brasil Limited

16 June 2011

16 June 2011

SQUARESTONE BRASIL LIMITED

("Squarestone Brasil", "the Company" or the "Group")

Directorate Changes

Squarestone Brasil Limited (AIM: SQB.L; SQBW.L), the Anglo-Brazilian real estate and investment company, announces that Tim Walker is to stand down as Non-Executive Chairman, effective immediately. Tim will continue as a Non-Executive Director on the Board and will continue to act as chairman of the Company's Audit Committee.

The Board is delighted to announce the appointment of Neil Varnham as the new Non-Executive Chairman. In accordance with the Company's Articles of Association, Neil will be eligible for re-election at the Company's forthcoming Annual General Meeting on 12 July 2011. Neil is currently engaged by the Company as specialist retail consultant providing the Board with strategic recommendations respectively relating to his international retail development and local shopping mall expertise.

Neil has over 33 years experience in the retail property sector, sourcing deals and negotiating approximately EUR10 billion of key investment transactions, including his involvement in the development and creation of funds and joint venture platforms in the UK, Continental Europe and South America.

In his previous role, Neil worked at Henderson Global Investors launching a number of different Funds, including the Henderson Retail Warehouse Fund, which became one of the most well recognised shopping centre and outlet mall funds in the UK, Germany and across Europe.

He is currently head of retail funds at Cadena Holdings Ltd which is the holding company of Pradera Asset Management PLC, a continental European focused out-of-town retail property fund manager.

Neil is a fellow of the Royal Institute of Chartered Surveyors and is FSA qualified. Neil is Immediate Past President of the British Council of Shopping Centres and a member of the International Council of Shopping Centres.

There is no further information to be disclosed in accordance with Schedule 2 paragraph (g) of the AIM Rules, save as set out below:

Neil Varnham's Current Directorships:

 
 British Council of Shopping Centres   Pradera Real Estate Limited 
  Cadena Retail Estate Limited          Pradera UK Asset Owning (General 
  Insite Asset Management Limited       Partner) Limited 
                                        Pradera UK (General Partner) 
                                        Limited 
 

Neil Varnham's Past Directorships:

 
 Austria Outlet Mall Holding Sarl      Henderson (Covent Garden) Limited 
  Bridgend (General Partner) Limited    Italy Outlet Mall Holding SrlHGI 
  BRLP Rotunda Limited                  OMP UK Limited 
  Bull Ring GP Limited Bull Ring        Martineau Galleries (GP) Limited 
  No.1 Limited                          Martineau Galleries No.1 Limited 
  Bull Ring No.2 Limited                Martineau Galleries No.2 Limited 
  Cheshire Oaks (General Partners)      Martineau (GP) Limited 
  Limited                               Martineau No.1 Limited 
  DOC Roermaond BV                      Martineau No.2 Limited 
  France Outlet Mall Holding Sarl       MGE-RB Parnodorf GmbH 
  Henderson Administration Services     MG-RB Europe Troyes SA 
  Limited                               MG-RB Europe Troyes SA 
  Henderson BR Birmingham Limited       MG-RB Troyes 2 Sarl 
  Henderson BRLP1 Limted                MG-RG Nord Sarl 
  Henderson BRLP2 Limted                Netherlands Outlet Mall Holding 
  Henderson BRLP3 Limted                BV 
  Henderson (Buchanan Galleries)        Outlet Mall Group Holdings Sarl 
  Limited                               Outlet Mall Holding Sarl 
  Henderson (Bull Ring) Limited         Outlet Mall (Italy) Holding Sarl 
  Henderson European Retail Property    Pearl (Covent Garden) Limited 
  Fund Management S.a.r.l               Pearl (Martineau Phase 1) Limited 
  Henderson Global Investors SGR        Pearl (Martineau Phase 2) Limited 
  SpA                                   Pearl MG Birmingham Limited 
  Henderson Joint Ventures Property     Pradera UK (General Partner) 
  Funds Management Sarl                 Limited 
  Henderson Matador LP General          Pradera Real Estate Limited 
  Partner Limited                       Roermond Holding (No1) Sarl 
  Henderson OMP (GP) Limited            Roermond Holding (No2) Sarl 
  Henderson (Potteries) Limited         Roermond Holding (No3) Sarl 
  Henderson Property Management         Serravalle Outlet Mall Srl 
  Company (Luxembourg) No.1 S.a.r.l     Serravalle Srl 
  Henderson UK OM (LP1) (GP) Limited    Squarestone Property Investment 
  Henderson UK OM (LP1) Limited         Management Limited 
  Henderson UK OM (LP2) (GP) Limited 
  Henderson UK OM (LP2) Limited 
  Henderson UK OM (LP3) (GP) Limited 
  Henderson UK OM (LP3) Limited 
 

James Morse, Chief Executive of Squarestone Brasil, commented:

"I would like to take this opportunity to express the appreciation of all Tim's colleagues throughout Squarestone Brasil for his great contribution as Non-Executive Chairman. He oversaw the Company's admission to AIM in April 2010 and what has proven to be a very successful 14 months. We are pleased that Tim remains as a Non-Executive Director.

We are delighted that Neil Varnham has joined the board and is taking over from Tim as Non-Executive Chairman and are certain that, like him, Neil will make a significant contribution to Squarestone Brasil during what we anticipate will be a significant period of growth."

For further information contact:

 
 Squarestone Brasil                   Tel: [phone] 
 James Morse, Chief Executive 
  Robert Sloss, Executive Director 
  Tim Barlow, Executive Director 
 
 Liberum Capital (Nominated Adviser   Tel: [phone] 
  and Broker) 
 Chris Bowman 
  Christopher Britton 
 
 Kreab Gavin Anderson (PR Adviser)    Tel: [phone] 
 James Benjamin                       Email: 
  Natalie Biasin                      [e-mail] 
 

Notes to Editors

Squarestone Brasil Limited (AIM: SQB.L; SQBW.L) is an Anglo-Brazilian real estate investment and development company specialising in the Brazilian shopping mall sector. The Company combines local real estate market knowledge with international expertise in retailing, construction and development and is focused on introducing to the Brazil shopping mall sector international standards in terms of design, construction, operation and asset management.

Squarestone Brasil Limited is a Guernsey registered and domiciled company with an operational company in Sao Paulo. Its Ordinary Shares and Warrants are traded on AIM where it was admitted to trading in April 2010. The business carried on by Squarestone Brasil was co-founded in 2007 by James Morse, Tim Barlow and Robert Sloss.

Further information on Squarestone Brasil is available from the Company's website www.squarestone.com.br

This information is provided by RNS

The company news service from the London Stock Exchange

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