Orava Residential Real Estate Investment Trust Plc announced that the Board of Directors of Orava Residential REIT has appointed Pekka Komulainen M.Sc.(Tech.) Director responsible for real estate properties. Komulainen will be responsible for the structure of the real estate portfolio, sales of properties as well as development and acquisition of new properties. Komulainen has had a long history of managerial positions in the construction and real estate sector, including that of CEO of Sato Rakennuttaja Oy and a member of Sato’s Management Team. The Board of Directors has appointed Timo Tanskanen B.Sc. (Finance and Economics) Director responsible for renting and maintenance of real estate properties. Tanskanen’s earlier employers include Aberdeen Asset Management Oy, YIT and, his latest position has been member of the management team and Regional Director for Southern Finland at Suomen Hoivatilat Plc. The Board of Directors has appointed Jouko Kiesi LL.M. with court training Director responsible for legal affairs, risk management and compliance. Kiesi has held financial and legal expert and managerial positions in different companies, including that of Legal Counsel at Capman, Senior Adviser at HPP Attorneys Ltd. and Borenius &Kemppinen as well as Legal Counsel for the Government Guarantee Fund. Komulainen, Tanskanen and Kiesi will report to CEO Kari Sainio M.Sc.(Tech.) and form the operative management of the company. The appointments will enter into force provided that the extraordinary general meeting of Orava Residential REIT on 10 September 2018 approves the Board of Directors’ proposals for developing and enhancing the company’s corporate structure.