GWI Globalworth Real Estate Investments Limited

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The Board of Globalworth today notes that the board of directors of GPRE has withdrawn two resolutions from the agenda of GPRE's EGM to be held on 15 November 2017, namely (1) the conditional authorisation to issue shares and grant rights to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

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