TIDMGWI
RNS Number : 0885E
Globalworth Real Estate Inv Ltd
27 June 2023
27 June 2023
NOT FOR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES OF AMERICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE
UNLAWFUL. IN PARTICULAR, THIS ANNOUNCEMENT AND THE TENDER OFFER
MEMORANDUM MENTIONED BELOW SHALL NOT BE DISTRIBUTED, TRANSMITTED OR
FORWARDED, DIRECTLY OR INDIRECTLY, IN, INTO, OR FROM, OR BY USE OF
THE MAILS OF, OR BY ANY MEANS OR INSTRUMENTALITY (INCLUDING,
WITHOUT LIMITATION, FACSIMILE TRANSMISSION, TELEPHONE, EMAIL AND
OTHER FORMS OF ELECTRONIC COMMUNICATION) OF INTERSTATE OR FOREIGN
COMMERCE OF, OR ANY FACILITY OF A NATIONAL SECURITIES EXCHANGE OF,
THE UNITED STATES.
This announcement shall not constitute, or be deemed to form
part of, any invitation to sell, or any solicitation of an offer to
buy, the securities referred to herein 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.
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 the EEA or the
United Kingdom.
Globalworth Real Estate Investments Limited
("Globalworth" or the "Offeror")
Results of cash Tender Offers for Outstanding Notes due 2025 and
Outstanding Notes due 2026
Globalworth (AIM: GWI) announces the results of its invitation
announced on 20 June 2023 to holders of its outstanding
EUR550,000,000 3.000 per cent notes due 2025 (ISIN: XS1799975922)
(the "2025 Notes") and EUR400,000,000 2.950 per cent notes due 2026
(ISIN: XS2208868914) (the "2026 Notes" and, together with the 2025
Notes, the "Notes") to tender up to EUR100,000,000 principal
aggregate amount of their Notes for purchase by the Offeror for
cash through an unmodified Dutch auction procedure (collectively,
the "Tender Offers" and each of them a "Tender Offer").
The Offeror has determined to accept for purchase EUR100,000,000
in aggregate principal amount of the 2025 Notes validly tendered
pursuant to the Tender Offers. The aggregate purchase consideration
(excluding accrued interest payments) for the 2025 Notes validly
tendered and accepted for purchase pursuant to the Tender Offers
will be EUR83,171,310, which will be funded by cash on the
Offeror's balance sheet. The Offeror will also pay accrued interest
in respect of the 2025 Notes validly tendered, delivered and
accepted for purchase by the Offeror pursuant to the Tender Offers.
In accordance with the terms set out in the tender offer memorandum
dated 20 June 2023 prepared by the Offeror in connection with the
Tender Offers, the Offeror determined not to accept any of the 2026
Notes tendered pursuant to the Tender Offers. The final results of
the Tender Offer for the 2025 Notes are as follows:
Description of Maturity Date ISIN / Common Scaling Factor Series Purchase Aggregate
the Notes Code at the Maximum Acceptance Consideration nominal amount
Purchase Price Amount (excluding of Notes
Accrued expected to be
Interest outstanding
Payments) following
settlement of
the
Tender Offer
EUR550,000,000
3.000 per
cent. Notes XS1799975922 / 61.7736 per
due 2025 29 March 2025 179997592 cent. EUR100,000,000 EUR83,171,310 EUR450,000,000
--------------- --------------- --------------- --------------- -------------- ----------------
The expected settlement date in respect of the accepted Tender
Offer is 29 June 2023.
Citigroup Global Markets Limited and HSBC Continental Europe
have been appointed by the Offeror to act as Dealer Managers and
Kroll Issuer Services Limited as the Tender Agent in connection
with the Tender Offers.
For further information, visit www.globalworth.com or
contact:
Enquiries
Stamatis Sapkas Tel: +40 732
Group Chief Financial Officer 800 000
Panmure Gordon (Nominated Adviser and Tel: +44 20 7886
Joint Broker) 2500
Dominic Morley
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
Poland and Romania. 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 260
professionals across Cyprus, Guernsey, Poland and Romania, a
combined value of its portfolio is EUR3.2 billion, as at 31
December 2022. Approximately 96.4% of the portfolio is in
income-producing assets, predominately in the office sector, and
leased to a diversified array of more than 690 national and
multinational corporates. In Poland Globalworth is present in
Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice, while in
Romania its assets span in Bucharest, Timisoara, Constanta,
Pitesti, Arad, Oradea and Targu Mures.
For more information, please visit www.globalworth.com and
follow us on Facebook, Instagram and LinkedIn.
IMPORTANT NOTICE:
This announcement does not constitute, or form part of, any
invitation to sell, or any solicitation of an offer to buy, 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 sell any
securities are reminded that any such sale must be made solely on
the basis of the tender offer memorandum dated 20 June 2023
prepared by the Offeror in connection with the Tender Offers,
subject to the relevant offer and distribution restrictions. In
certain jurisdictions, the transactions described above and the
distribution of this announcement and other information in
connection with the transactions described above 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.
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END
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