Result of AGM and Directorate Change

19 July 2021

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Arricano Real Estate Plc

("Arricano" or the "Company")

Result of AGM and Change to Directorate

Arricano (AIM: ARO) announces that, with the exception of Resolution 4, all of the resolutions at its annual general meeting today were duly approved.

Resolution 4, which concerned the re-appointment of the Company's Chairman, Mr Urmas Somelar, as a Director of the Company, was withdrawn as a result of his decision not to seek re-appointment as Director at the AGM.  Mr Somelar today informed the Company of his decision to retire as Director and as Chairman of the Board for personal reasons.

The Board has agreed that Mr Georgios Komodromos, an independent non-executive director of the Company, will succeed Mr Somelar as Chairman pending the appointment of a permanent independent successor.

Mr Somelar commented: "It has been my pleasure to act as Chairman of Arricano since September 2018 and I am delighted that, as I leave it to pursue other interests, it is trading well against the continuing backdrop of the COVID pandemic. I wish the company and its staff continuing success."

Ganna Chubotina, Chief Executive Officer of Arricano, commented: "We are all grateful to Urmas Somelar for his wise guidance over the last few years and wish him every success in his future endeavours".

Enquiries:

Arricano Real Estate plc

Tel: +357 25 582 535

Ganna Chubotina

Nominated Adviser and Broker:

WH Ireland Limited Chris Fielding Tel: +44 (0)20 7220 1666

Financial PR:

Novella Communications Limited Tim Robertson/ Fergus Young 

Tel: +44 (0)20 3151 7008