Globalworth Real Estate Inv Ltd Further update on Investment in Poland (0828W)
November 09 2017 - 8:40AM
UK Regulatory
TIDMGWI
RNS Number : 0828W
Globalworth Real Estate Inv Ltd
09 November 2017
9 November 2017
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
Further update on Investment in Poland
On 4 October 2017, the Board of Globalworth announced (the
"Announcement") that its subsidiary Globalworth Asset Managers SRL
("GAM") had entered into a conditional investment agreement to
acquire a minimum of 50.01% and up to 67.90% of the issued share
capital of Griffin Premium RE.. N.V. ("GPRE"), a Dutch entity
listed on the Warsaw Stock Exchange, to be effected by way of the
Tender Offer (the "Investment").
The Board of Globalworth today notes that the board of directors
of GPRE has withdrawn two resolutions from the agenda of GPRE's EGM
to be held on 15 November 2017, namely (1) the conditional
authorisation to issue shares and grant rights to acquire shares
and (2) the conditional authorisation to restrict or exclude
pre-emptive rights. A further GPRE EGM has been called for 8
January 2018 (the "January EGM") at which a resolution will be
proposed to revise GPRE's articles of association to provide for a
qualified majority of at least 75% of the votes cast for any issue
of new shares representing more than 10% of GPRE's share
capital.
The Company supports the above changes and has accordingly
agreed to waive the related conditions to its Investment, as set
out in the Investment Agreement and, further, the Company confirms
its intention to vote in favour of the resolution at the January
EGM.
The Company currently expects all remaining conditions to be
satisfied, the Tender Offer to be closed and completion of the
Investment, prior to 31 December 2017.
Terms which are not otherwise defined in this announcement have
the meanings given to them in the Announcement.
A full copy of the Announcement can be found here:
www.globalworth.com/investor-relations/key-corporate-documents.aspx
The Board of Globalworth will continue to keep shareholders
updated as appropriate.
Enquiries:
Andrew Cox Tel: +44 20 3026 4027
Head of Investor Relations & Corporate Development
Panmure Gordon (Nominated Adviser and Joint Broker) Tel: +44 20
7886 2500
Andrew Potts
Jefferies (Joint Broker) Tel: +44 20 7029 8000
Stuart Klein
Milbourne (Public Relations) Tel: +44 7903 802 545
Tim Draper
About Globalworth
Globalworth is a real estate investment company active in
Central and Eastern Europe, and has become the leading office
investor in the Romanian real estate market. Globalworth acquires,
develops and directly manages high-quality office and
logistics/light-industrial real estate assets in prime locations,
through which it benefits from a strong rental income profile from
high quality tenants from around the globe. With approximately 70
professionals managing it, Globalworth's portfolio, as at 30 June
2017, was valued in excess of EUR1bn, of which 90% is in
income-producing assets and over 80% in the office sector.
Globalworth has a strong and supportive investor base, having been
listed on the AIM Market of London Stock Exchange since 2013 and in
2017 issued its debut Eurobond on the Irish and Bucharest stock
exchanges.
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 information is provided by RNS
The company news service from the London Stock Exchange
END
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