Dubai, United Arab Emirates, 2nd January 2019: As an update to the previous announcement of 30th December 2018 ("ENBD REIT Announces Changes to Board of Directors"), ENBD REIT (CEIC) PLC ("ENBD REIT" or the "REIT"), the Nasdaq Dubai-listed Shari'a-compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has announced the conclusion of a series of changes to its Board of Directors. Mr. Khalid AlFaheem was appointed to the Board of Directors as an independent non-executive member on 10th December 2018, following shareholder approval at the General Meeting held on 27th November 2018. Mr. AlFaheem has been a member of ENBD REIT's Investment Committee since ENBD REIT's listing in March 2017.
On 20th December 2018, Mr. David Marshall resigned from ENBD REIT's Board of Directors, as he seeks to focus his attentions on new business ventures in the UAE. On 21st December 2018, Mr. Ali Rashid Humaid Al Mazroei was appointed to the Board of Directors as an independent non-executive member, following written resolutions issued by the Directors. The appointment is effective immediately and subject to reappointment at the next Annual General Meeting ("AGM"). Mr. Al Mazroei was nominated for the Board by National Bonds Corporation, one of the largest investors in ENBD REIT.
Mr. Khalid AlFaheem has over 15 years' professional experience in management and board advisory and has been an active member of various organisations and industries in the UAE, including Al Fahim Group (UAE), where he has held offices from business development to council member and executive management, most recently sitting as an advisor to the Board since 2012. He also represents the Group as a director of a number of its subsidiaries and affiliated companies. From 2010 to 2012, Mr. AlFaheem served as an Executive Director of Dubai Pearl. In 2007 he joined the UAE Professional Football League Assessment Committee and was later appointed to the first Board of the UAE Professional League. He is a partner of Quintessentially, the leading luxury lifestyle and concierge group, in Abu Dhabi, and since 2009 has served as a Director of the philanthropic Abdul Jalil Al Fahim & Family Endowment. Mr. AlFaheem holds a degree in Business Administration from the American Intercontinental University in London and a master's degree in Diplomacy from the University of Westminster, London.
Mr. Ali Rashid Humaid Al Mazroei is Group Director and CFO at Bahri & Mazroei Group, a diversified investment group established in 1968. Prior to this, he worked at Citibank N.A. where he held various positions at the regional and country level including TMEA Business Planning & Analysis Head, UAE Regulatory Head, and Director of CitiBusiness. He has been a Board Member of Dubai Financial Market (DFM) since 2010, Emirates Investment & Development PSC since 2008, and National Bonds Corporation since 2011. Mr. Al Mazroei holds an MBA from Southern New Hampshire University and a Bachelor of Business Administration from the American University in Dubai.
ENBD REIT confirms that neither of the newly appointed independent non-executive Board members has any unspent convictions relating to serious financial crimes; any bankruptcies or individual voluntary arrangements; or any compulsory liquidations, creditors voluntary liquidations, company voluntary arrangements, receivership or any composition or arrangement with creditors. ENBD REIT also confirms that neither of the newly appointed Board members has any public criticisms or disqualifications by governmental or regulatory authorities that disqualify them from acting as a Director of a Body Corporate, General Partner of a partnership or from acting in the management or conducting the affairs of any Body Corporate or Listed Fund.
