Acquisition of the Founder Pipeline

RNS Number : 9402C

Globalworth Real Estate Inv Ltd

21 March 2014

 



Globalworth Real Estate Investments Limited

Completion of the Acquisition of the Founder Pipeline

Guernsey, 21 March 2014: Globalworth Real Estate Investments Ltd. (AIM: GWI) ("Globalworth" or "the Company"), the real estate investment company targeting opportunities in Romania and the broader SEE and CEE regions, is pleased to announce that the acquisition of the BOB and BOC office assets ("Founder Pipeline"), which was announced on 16 December 2013, has now completed. Completion took place in accordance with the key terms as disclosed in that announcement.

In satisfaction of its share of the equity consideration, 1,071,795 shares of no par value ("Ordinary Shares") have been issued to Day Lily Properties Limited, a Founder Company (as defined in the Admission Document) which held a 22% interest in the Founder Pipeline.  Application will be made to AIM for 1,071,795 Ordinary Shares to be admitted to trading on AIM with this expected to occur on 28 March 2014. Following the above issue, the total issued share capital of the Company will comprise 27,310,652 Ordinary Shares.

Dimitris Raptis, Deputy Chief Executive Officer and Chief Investment Officer of the Company commented: "The completion of the acquisition of BOB and BOC marks the successful conclusion of the first phase of its investment programme described in the Company's admission document comprising the Initial Portfolio and the Founder Related Pipeline.  As a result, the Company is now ready to enter into the next phase of its evolution and is actively looking at a number of other investment opportunities which will consolidate its position as the premier institutional investor in Romania and one of the largest in the broader SEE and CEE region".

For further information visit www.globalworth.com or contact:  

EastWest Partners (Financial Adviser)

David Hill                                                                                         Tel: [phone]

Scott Evans                                                                                      Tel: [phone]

Panmure Gordon (Nominated Adviser)                             Tel: [phone]

Nicola Marrin

Freddy Crossley

Cantor Fitzgerald Europe (Joint Broker)                            Tel: [phone]

Rick Thompson

David Foreman

Milbourne (Public Relations)                                                Tel: [phone]

Tim Draper

About Globalworth:

Globalworth Real Estate Investments Ltd is a real estate investment company founded by real estate investor and developer Ioannis Papalekas to take advantage of investment opportunities in Romania and the broader SEE and CEE regions and currently focussing its activities in Romania. The company is Guernsey incorporated and registered as a closed-ended collective investment scheme by the Guernsey FSC. The Company's shares were admitted to trading on AIM in July 2013.

The Romanian market offers an attractive real estate investment proposition in the medium-to-long term. Globalworth believes that global investor capital flows will gradually move from markets considered as "safe havens" to more peripheral markets such as Romania and the broader SEE and CEE regions in search of higher yielding investments. As a result, Romania and the broader SEE and CEE regions should, in due course, become more attractive destinations for a wide investor audience. Globalworth anticipates holding an early mover advantage in these markets and benefitting from this gradual shift in investor sentiment.

 

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