Essen, 15 April 2019: The Local Court Essen has appointed Mr Thomas Hegel and Mr Dietmar P. Binkowska as members of the supervisory board of Instone Real Estate Group AG, effective 12 April 2019. The court appointment was made, as on 31 December 2018 Mr Stefan Mohr and Mr Richard Wartenberg had resigned from office. This took place following the complete withdrawal of the previous majority shareholders, funds managed by ActivumSG.
By appointing Thomas Hegel and Dietmar P. Binkowska, proven real estate experts with deep experience in the capital markets, the Local Court Essen has now approved a motion of the management board, which is also fully supported by the company's supervisory board.
Thomas Hegel has been chairman of the management board of LEG Immobilien AG since 2013 and will continue to fulfil this mandate until the end of May 2019. Prior to his appointment as chairman of the management board, he served as spokesman of the management board and as managing director of LEG NRW GmbH. Before that, Hegel for several years was a managing director at Corpus Asset Wohnen GmbH, where his focus was on real estate management.
Dietmar P. Binkowska is an independent management consultant and was chairman at IVG Immobilien AG from 2015 to 2017, and chairman of its supervisory board from 2014 to 2015. Previously, he served for six years as chairman of the board of NRW.Bank. Further positions in his more than thirty-year career in the banking sector included Commerzbank AG, HypoVereinsbank AG, Sparkasse KölnBonn and Deutsche Bank AG. "With Thomas Hegel and Dietmar P. Binkowska, Instone Real Estate's supervisory board has gained two experienced specialists with years of supervisory board experience. With their expertise in the German residential real estate sector and their reputation in the international capital markets, they will perfectly support Instone's course of growth", says Stefan Brendgen, chairman of the supervisory board of Instone Real Estate Group AG.
As a result of the appointment of the two new members, the supervisory board is now complete again with five members, in compliance with the Articles of Association. In accordance with the recommendation of the German Corporate Governance Code, the appointment of Thomas Hegel and Dietmar P. Binkowska as members of the supervisory board is limited to the end of the company's upcoming annual general meeting in June 2019. It is intended to propose the confirmation of Thomas Hegel and Dietmar P. Binkowska in their positions to the annual general meeting.
Thomas Hegel: "Instone Real Estate is one of the most exciting project developers in the German residential property market and I am pleased to be able to contribute my expertise in constructive cooperation with the colleagues on the supervisory board and with the management board."
Dietmar P. Binkowska: "Instone Real Estate is a very well-positioned company with an impressive residential development pipeline and experienced management. I consider the appointment to this company's supervisory board a responsibility as well as an honourable task, which I am looking forward to very much."
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