Arricano Real Estate PLC announced the following changes, with immediate effect, to its board of directors. The appointment of its Chief Financial Officer (‘CFO'), Lauri Reinberg, as Finance Director. The appointment of Michaelis Michael as a Non-Executive Director; and Volodymyr Tymochko, having joined the Board in 2012, has stood down as a Non-Executive Director to concentrate on his other interests.

Lauri Reinberg, who joined Arricano in October 2017, has over 20 years' experience in financial management in Eastern European markets. Lauri previously served as CFO of Pocopay, prior to which he held numerous senior finance roles in Swedbank. Between 2007 and 2009, Lauri had served as CFO of Retail Real Estate S.A. Lauri received his Master of Science degree in Business Administration from the Estonian Business School in 2002 and his Bachelor of Science degree from the University of Tartu in 1995.

Michalis Michael has a long professional career in business and audit services, both as a sole practitioner and as a Partner at KPMG Cyprus until his retirement last year. Michalis also has considerable experience in the Ukrainian market having been Chairman of the Cyprus-Ukraine Business Association from 2012, again until last year. Michalis formerly served as a Member of the Board of Directors of the Cyprus Broadcasting Corporation, Chairman of the Board of Directors of the Cyprus Organisation of Land Development and the Cyprus Investment Promotion Agency, a Member of the Committee for the Supervision and Development of Cooperative Societies and a Member of the Board of Directors of The Cyprus University of Technology (2014-2016).

Michalis is a Chartered Certified Accountant, a Fellow member of the UK Association of Chartered Certified Accountants (FCCA) and Member of the Institute of Certified Public Accountants of Cyprus, of which he also served as a Member of the Board of Directors. Lauri Reinberg, aged 48, is currently a director of two Estonian companies, Beta Capital OU and Sigma Consulting OU. Michalis Procopiou Michael, aged 65, is currently a director of two Cypriot companies, Shark Investments Limited and Michalis P. Michael Consulting Limited, and was until March 2021 a director of the Cypriot company, KPMG Limited.