Five members of the board of directors of ADO Properties S.A. (ADO Properties) resigned from their office and handed over their responsibilities and duties with immediate effect following the closing of the merger of the company's main shareholder A.D.O. GROUP LTD with a fully owned subsidiary of ADLER Real Estate AG. The remaining members of the board of directors thank the resigning members, i.e. Moshe Dayan (Chairman), Amit Segev, Dr. Sebastian-Dominik Jais, Constantin Papadimitriou and David Daniel for their commitment and support of ADO Properties. The members of the board of directors of ADO Properties appointed Dr. Peter Maser (Chairman), Florian Sitta, Thierry Beaudemoulin, Dr. Ben Irle and Arzu Akkemik as new members the board of directors with a term until the next general meeting of the shareholders which is expected to take place on 10 June 2020.

Thierry Beaudemoulin has been appointed as Chief Executive Officer with immediate effect, replacing Mr. Ran Laufer whose function as Chief Executive Officer has terminated on December 10, 2019. Furthermore, the functions of the Chief Financial Officer Mr. Eyal Merdler and Chief Operational Officer Mr. Eran Amir have been terminated as of December 10, 2019 in light of the changes in the Board of Directors of the company.