The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain.
23 January 2019
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
Issue of New Shares in Exchange for Shares in Globalworth Poland and Total Voting Rights
Globalworth, the leading office investor in Central and Eastern Europe, is pleased to announce that, in accordance with existing shareholder authorities, it has agreed with certain shareholders in Globalworth Poland (GPRE), its Polish subsidiary, to acquire 17,832,921 GPRE shares in exchange for 3,135,459 newly issued shares in the Company. Completion of these share exchanges will take place on 28 January 2019, after the record date in relation to the interim dividend of 25 January 2019. Following the completion of these transactions and taking into account its acquisition of other shares in GPRE for cash during the second half of 2018, the Company will hold 73.7% of GPRE.
Application for Admission of Ordinary Shares to trading on AIM
Application will be made for 3,135,459 new Ordinary Shares to be admitted to trading on AIM, with admission expected to take place on 28 January 2019. Following admission of these Ordinary Shares, the Company's enlarged issued share capital will comprise 135,640,485 Ordinary Shares with voting rights in the Company. This is the total number of voting rights which may be used by shareholders as the denominator for calculations to determine if they are required to notify their interest, or a change in their interest, in the share capital of the Company under Chapter 5 of the FCA's Disclosure Guidance and Transparency Rules, and as reflected in the Company's articles of incorporation. The Company owns a further 93,976 ordinary shares held in treasury.
This transaction represents a substantial transaction pursuant to the AIM Rules.
For further information visit www.globalworth.com or contact:
Enquiries
Andrew Cox Tel: +44 20 3026 4027
Head of Investor Relations & Corporate Development
Jefferies (Joint Broker) Tel: +44 20 7029 8000
Stuart Klein
Panmure Gordon (Nominated Adviser and Joint Broker) Tel: +44 20 7886 2500
Andrew Potts
Milbourne (Public Relations) Tel: +44 7903 802545
Tim Draper
About Globalworth / Note to Editors:
Globalworth is a listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange. It has become the pre-eminent office investor in the CEE real estate market through its market-leading positions both in Romania and in Poland, where the Company has a majority shareholding in Globalworth Poland, a pure-play Polish real estate platform listed on the Warsaw Stock Exchange. Globalworth acquires, develops and directly manages high-quality office and logistics/light-industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by over 170 professionals across Romania and Poland, the combined value of its portfolio is in excess of €2 billion, as at 30 June 2018. Over 90% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of some 510 national and multinational corporates. In Romania, Globalworth is present in Bucharest, Timisoara and Pitesti, while in Poland its assets span Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice. For more information, please visit www.globalworth.com and follow us on Facebook, Instagram and LinkedIn.
IMPORTANT NOTICE: This announcement has been prepared for the purposes of complying with the applicable laws and regulations of the United Kingdom and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws and regulations of any jurisdiction outside of the United Kingdom. This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "targets", "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward looking statements include all matters that are not historical facts and involve predictions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's business, results of operations, financial position, liquidity, prospects, growth or strategies and the industry in which it operates. Forward-looking statements speak only as of the date they are made and cannot be relied upon as a guide to future performance. Save as required by law or regulation, the Company disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements in this announcement that may occur due to any change in its expectations or to reflect events or circumstances after the date of this announcement
Further information required to be disclosed pursuant to Schedule 4 to the AIM Rules, being the most recently notified financial information, is that the profits attributable to GPRE for the year ended 31 December 2017 were €42.5m and the gross assets of GPRE at 30 September 2018 were €1,135.9m.
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