Globalworth Real Estate Inv Ltd Shares issue, Transfer of Treasury Shares and TVR (7060E)
06 July 2019 - 2:20AM
UK Regulatory
TIDMGWI
RNS Number : 7060E
Globalworth Real Estate Inv Ltd
05 July 2019
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.
5 July 2019
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
Issue of Shares, Transfer of Shares out of Treasury and Total
Voting Rights
Following the announcement on 13 June 2019 of the new Group-wide
remuneration policy and the termination of the previous incentive
fee arrangements (the "Plan") for Globalworth Investment Advisers
Ltd ("GIAL"), a wholly-owned subsidiary of the Company, the Board
of Globalworth confirms it has today resolved the following:
-- to transfer 123,241 ordinary shares of no par value which are
currently held in treasury ("Treasury Shares") and to issue
2,758,816 ordinary shares of no par value ("Ordinary Shares") to
GIAL in settlement of the shares element of the Plan
termination;
-- to transfer a further 45,791 Treasury Shares to employees of
the Group in settlement of the shares element of the Plan
termination; and
-- as part of the implementation of the long-term incentive plan
which forms part of the new Group-wide remuneration policy, to
issue 342,184 Ordinary Shares to GIAL. These Ordinary Shares will
not vest unless and until satisfaction of the relevant performance
conditions, as outlined in the announcement on 13 June 2019.
In addition, 87,148 Treasury Shares are to be utilised to
satisfy awards made for 2017 under the share award plan in place
for employees of the Company's Romanian subsidiaries, such shares
vesting automatically in accordance with that share award plan.
Following the above transfers, the Company will hold 777
Treasury Shares.
Application will be made for 3,101,000 new Ordinary Shares to be
admitted to trading on AIM with admission expected to take place on
11 July 2019 ("Admission"). Following Admission, the Company's
enlarged issued share capital will comprise 193,834,684 Ordinary
Shares with voting rights in the Company. The transfer of the
Treasury Shares will take place as soon as possible.
The total number of ordinary shares in issue excluding shares
held as Treasury Shares is 193,834,684, and this is the total
number of the voting rights in the Company which may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest, or a
change in the interest, in the share capital of the Company under
Chapter 5 of the FCA's Disclosure Guidance and Transparency Rules
as reflected in the Company's articles of incorporation.
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
Alina Vaskina/Justin Gulston
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 currently has a 99.6%
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 nearly 200 professionals across Romania and
Poland, the combined value of its portfolio is over EUR2.5 billion,
as at 31 December 2018 and proforma for subsequent acquisitions.
Over 90% of the portfolio is in income-producing assets,
predominately in the office sector, and leased to a diversified
array of some 650 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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