GLOBE TRADE CENTRE S.A. - Dismissal of Thomas Kurzmann from the Management Board of Globe Trade Centre S.A.

Dismissal of Thomas Kurzmann from the Management Board of Globe Trade Centre S.A.

GLOBE TRADE CENTRE S.A.
(Incorporated and registered in Poland with KRS No. 61500)
(Share code on the WSE: GTC.S.A)
(Share code on the JSE: GTC ISIN: PLGTC0000037)
(“GTC” or “the Company”)


Current report number: 11/2020

Date: 23 June 2020

Subject: Dismissal of Thomas Kurzmann from the Management Board of Globe Trade Centre
S.A. and appointment of Robert Snow to the Management Board of Globe Trade Centre S.A.

The Management Board of Globe Trade Centre S.A. (“Company”) hereby reports that on 22 June 2020
the Supervisory Board of the Company adopted a resolution regarding the dismissal of Thomas
Kurzmann from the position of member of the Management Board of the Company and the appointment
of Robert Snow to the Management Board of the Company effective as of the moment of receipt by the
Company of the notification issued by LSREF III GTC INVESTMENTS B.V. pursuant to Article 69 section
1 item 2) in conjunction with Article 87 section 5 item 1) of the Act of 29 July 2005 on Public Offering,
the Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public
Companies regarding the indirect disposal of shares in the share capital of the Company resulting from
the disposal by LSREF III GTC INVESTMENTS B.V. of all of the shares in the share capital of GTC
DUTCH HOLDINGS B.V., which holds 61.49% of the shares in the share capital of the Company and
61.49% of the votes at the general meeting of the Company.

The Company will inform of receipt of the aforementioned notification in a separate current report.

Mr. Robert Snow is the Chairman of GTC Hungary. Mr Snow joined GTC in 2000 as CEO and Country
Manager in Hungary and led the development activity of GTC’s operations in Hungary. In addition and
from 2004 until 2013, Mr Snow established and managed the development activities of GTC in Serbia.
Mr Snow has a proven track record in the real estate business in CEE in senior management roles for
over 30 years; amongst others at Danubius Hotels in Budapest from 1996 to 2000. Prior to settling in
Hungary, Mr Snow was employed in project management, construction and logistics roles for over 15
years in the Middle East. Mr Snow was educated at Millfield School in Somerset, UK and holds a
Bachelor of Science Degree from Manchester University Institute of Science and Technology in Building
Technology.

According to statement he has made, Robert Snow is not entered in the register of insolvent debtors
maintained pursuant to the Polish Act on the National Court Register dated 20 August 1997, does not
perform any activities outside of the Company’s business which could be considered competitive
thereto, does not participate in any competitive business, either as a partner in a civil partnership or any
other type of partnership, is not a shareholder of a capital company and is not member of the authorities
of any competitive company or any other competitive entity.

Legal grounds: § 5 sec. 4) and 5) of the Regulation of the Minister of Finance dated 29 March 2018 on
current and periodic information published by issuers of securities and on the conditions under which
such information may be recognized as being equivalent to information required by the laws of a state
which is not a member state.


Signed by:
/s/ Erez Boniel                  /s/ Yovav Carmi
Member of the Management Board   Member of the Management Board


Warsaw, Poland
Sponsor: Investec Bank Limited

Date: 23-06-2020 08:15:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.