10 August 2017

Arricano Real Estate plc

("Arricano" or the "Company")

Directorate Change

Arricano (AIM: ARO) announces the appointment of Mr Jüri Põld as a Non-executive Director, with immediate effect. Mr Põld is being appointed to the Board of Arricano pursuant to the existing relationship agreement between the Company and Retail Real Estate OÜ ("RRE OÜ").  

Mr Põld is a construction and development professional with more than 20 years of experience working for European property and development companies. He graduated from the Estonian Agricultural University as a civil engineer in 1991. He started his professional career in 1990 as a project manager in Russia. In 1997 he joined Skanska, a world leading project development and construction group based in Sweden where he worked on the development of several infrastructural nationwide projects in Finland and Estonia.  

In 2007 Mr Pold joined Expert Capital Management OU as a construction director where he played an active role in the expansion and development of shopping malls in Ukraine.  Between 2007 and 2009, Mr Pold in cooperation with a team of international professionals engaged by Expert Capital Management OU worked on commercial real estate projects in Ukraine and Estonia. As a result, Sun Gallery Shopping and Entertainment Center, the prime shopping and leisure venue owned by Arricano in Kryvyi Rih, Ukraine, was opened in 2008.

In 2013 Mr Põld continued his career as a consultant, where his competence in construction and investment supported various companies' development strategies.

Commenting on the appointment, Mykhailo Merkulov, CEO, said, "I am delighted to welcome Jüri to the Board, he will provide valuable input into the Company's strategic development and expansion and I look forward to working closely with him."

The directorships and partnerships currently held by Mr Põld and over the five years preceding the date of appointment are as follows:

There are no further disclosures to be made pursuant to Schedule 2 paragraph (g) of the AIM Rules.

Mr Põld holds 7,296,137 ordinary shares in the Company representing 7.07 per cent. of the Company's issued share capital.

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