TIDMGWI
RNS Number : 9742H
Globalworth Real Estate Inv Ltd
16 March 2018
NOT FOR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL.
This announcement shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
securities referred to herein in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to
registration, exemption from registration or qualification under
the securities laws of any such jurisdiction.
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.
Manufacturer target market (MIFID II product governance) will be
eligible counterparties and professional clients only (all
distribution channels). No PRIIPs key information document (KID)
has been prepared as not available to retail in EEA.
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
Fixed Income Investor Meetings
Globalworth Real Estate Investments Limited (AIM: GWI), a
leading real estate company focused on Poland and Romania with
expected corporate ratings of Ba1 by Moody's and BBB- by Fitch, has
mandated Deutsche Bank AG, London Branch, J.P. Morgan Securities
plc, Morgan Stanley & Co. International plc and UBS Limited to
arrange a series of fixed income investor meetings in Europe,
commencing on 16 March 2018. An offering of debt securities under a
Euro Medium Term Note programme to be established may follow,
subject to market conditions.
Current Trading
Based on unaudited preliminary internal information related to
operations for the months of January to February 2018, net
operating income during the two months ended 28 February 2018 was
above the net operating income during the same corresponding period
in 2017 and above the net operating income during the two months
ended 31 December 2017. No material lease agreements have expired
since 31 December 2017. Our occupancy rate has been increasing
since 31 December 2017. Since the beginning of 2018, as a result of
the ongoing efforts of our leasing team (representing additional
leases of 6,016 sqm GLA at market rent levels), the total
commercial space leased in our standing portfolio has increased to
701,014 sqm as of 28 February 2018 from 697,800 sqm as of 31
December 2017. As of 28 February 2018, our occupancy rate on
standing commercial properties was approximately 93.7%, (96.1%
including tenant options).
This information is based solely on preliminary internal
information used by management. Our consolidated financial results
may differ from our preliminary estimates and remain subject to
normal end of period closing procedures and review procedures,
including the adjustments required to reconcile such information
with IFRS. Those procedures have not been completed. Accordingly,
this information may change and those changes may be material. We
caution that the foregoing information has not been audited or
reviewed by our independent auditors and should not be regarded as
an indication, forecast or representation by us or any other person
regarding our performance for the abovementioned period.
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 an AIM-listed real estate company active in
Central and Eastern Europe. It has become the leading office
investor in the Romanian real estate market and now has established
a significant platform in Poland, through a 72% shareholding in
Griffin Premium R.E.. N.V. (GPRE), 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,
through which it benefits from a strong rental income profile from
high quality tenants from around the globe. Managed by
approximately 110 professionals across Romania and Poland, the
combined value of its portfolio is EUR1.8 billion, of which over
90% is in income-producing assets, predominately in the office
sector, and leased to some 440 national and multinational
corporates from 28 countries and 37 different sectors. In Romania,
Globalworth is present in Bucharest, Timisoara and Pitesti, whilst
assets in Poland span Warsaw, Wroclaw, Lodz, Krakow, Gdansk and
Katowice.
IMPORTANT NOTICE:
This announcement does not constitute, or form part of, an offer
or invitation to sell or issue, or any solicitation of an offer to
buy or subscribe for, any securities in the United States or any
other jurisdiction nor shall it (or any part of this announcement)
or the fact of its distribution form the basis of, or be relied
upon in connection with, or act as any inducement to enter into,
any contract or commitment. Recipients of this announcement who
intend to purchase any securities are reminded that any such
purchase or subscription must be made solely on the basis of the
information contained in any final form prospectus published in
connection with any such securities, which if and when published
will be available on the website of the Central Bank of Ireland.
The transaction described above and the distribution of this
announcement and other information in connection with the
transaction in certain jurisdictions may be restricted by law and
persons into whose possession any document or other information
referred to herein comes should inform themselves about and observe
any such restriction. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such
jurisdiction.
This communication is not an offer of securities for sale in the
United States, Australia, Canada, Japan or any other jurisdiction
where to do so would be unlawful. Globalworth Real Estate
Investments Limited has not registered, or intends to register,
securities in any of these jurisdictions or to conduct an offer of
securities for sale in any of these jurisdictions. In particular,
no securities of Globalworth Real Estate Investments Limited have
been or will be registered under the U.S. Securities Act of 1933,
as amended (the "Securities Act"), and such securities may not be
offered, sold or delivered within the United States or to, or for
the account or benefit of, U.S. persons (as defined in Regulation S
under the Securities Act) except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of
the Securities Act and in compliance with any applicable state
securities laws.
This announcement is not directed at retail clients (as defined
in the Product Intervention (Contingent Convertible Instruments and
Mutual Society Shares) Instrument 2015) in the European Economic
Area ("EEA"). The notes are not intended to be offered, sold or
otherwise made available to and should not be offered, sold or
otherwise made available to any retail investor in the EEA. For
these purposes, a retail investor means a person who is one (or
more) of: (i) a retail client as defined in point (11) of Article
4(1) of Directive 2014/65/EU (as amended, "MiFID II"); or (ii) a
customer within the meaning of Directive 2002/92/EC ("IMD"), where
that customer would not qualify as a professional client as defined
in point (10) of Article 4(1) of MiFID II. Consequently no key
information document required by Regulation (EU) No 1286/2014 (the
"PRIIPs Regulation") for offering or selling the notes or otherwise
making them available to retail investors in the EEA has been
prepared and therefore offering or selling the Notes or otherwise
making them available to any retail investor in the EEA may be
unlawful under the PRIIPs Regulation.
Solely for the purposes of each manufacturer's product approval
process, the target market assessment in respect of the notes has
led to the conclusion that: (i) the target market for the notes is
eligible counterparties and professional clients only, each as
defined in MiFID II; and (ii) all channels for distribution of the
notes to eligible counterparties and professional clients are
appropriate. Any person subsequently offering, selling or
recommending the notes (a "distributor") should take into
consideration the manufacturers' target market assessment; however,
a distributor subject to MiFID II is responsible for undertaking
its own target market assessment in respect of the notes (by either
adopting or refining the manufacturers' target market assessment)
and determining appropriate distribution channels
This information is provided by RNS
The company news service from the London Stock Exchange
END
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