The Directors of the Board
The Board will consist of seven members, six of whom are non-executive and Markos Kashiouris, who is the Chief Executive. Lord Balfour, Andrew Hargreaves, Mehmet Onkal, Anthony Travis and Stephen Hammond, MP are Independent Directors for the purposes of the Combined Code. The Board will be responsible for the overall operation of the Company and is constituted as follows:

 

The Rt. Hon. Roderick Francis Arthur, Earl of Balfour, aged 59, Non-executive Chairman
Lord Balfour is co-founder and director of Virtus Trust, which assists family offices and corporations worldwide in a variety of matters. Prior to that he was a Director of Rothschild Trust Corporation (1990-2005); Union Discount Company of London (1983-1990); Jessel Toynbee & Gillett (1981-1983); and a Partner at Grieveson Grant Stockbrokers (1972-1981). He is currently a non-executive director of Bateman Engineering NV which is an AIM-traded company.

 

Andrew Raikes Hargreaves, aged 53, Non-executive Vice Chairman
Mr Hargreaves is currently Senior Adviser and Group Director, Government Affairs, EADS. He is also an International Compliance officer for EADS Group. Previously he was UK Chairman, EADS and before the merger which formed EADS, he was UK Managing Director of Daimler-Benz Aerospace AG. Prior to that Mr Hargreaves was Member of Parliament for Birmingham Hall Green and Parliamentary Private Secretary to four Ministers of State at the Foreign Office. Before entering Parliament he was an Assistant Director at Schroders Plc and at Sanwa Bank of Japan. He has also been a fine art auctioneer and valuer at Christies.

 

Markos Andreas Kashiouris, aged 35, Chief Executive

Mr Kashiouris has been a property investor and developer through the Terra Group since 2000 and has extensive real estate experience across several European countries, including the UK, emerging Europe, Greece and Cyprus. He owns and manages a specialised housing portfolio in London. Leading an international consortium, Mr Kashiouris has recently acquired the 25-year rights for Sotheby`s Realty in the eastern Mediterranean with marketing capabilities across Southeast Europe, Russia and the Middle East. Terra Investments, Mr Kashiouris` primary investment vehicle, was founded in 2003 and has advised on c. €280 million of real estate projects in the UK, France and Southeast Europe. Additionally, Mr Kashiouris is currently an investor in €130 million of mixed-use developments in Cyprus and an advisor in a €130 million mixed-use resort project in Greece. Mr Kashiouris is a UK-qualified Chartered Accountant (ACA), an Associate of the Chartered Institute of Marketing (ACIM) and a Member of the Securities Institute (MSI). He worked for JP Morgan and Commerzbank Securities in London where he was top-rated in the 2001 and the 2002 Extel Surveys.

 

Peter George Economides, aged 57, Non-executive Director
Mr Economides founded Totalserve Group in 1972, one of the largest regional tax and trust consultancies in Southeast Mediterranean with a primary focus in Eastern and Southeastern Europe. Mr Economides is a member of the International Tax Planning Association, a member of the international committee of the Society of Trust and Estate Practitioners (STEP), the Founder and Chairman of STEP Cyprus and a member in various other international accounting, tax and trust associations. He is currently a board member of Guardian Land, a €300 million property fund and is an adviser to the board of the Dragon Property Group, a €150 million broad-based property investment operation.

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