Completion of refinancing and issue of equity

RNS Number : 1783B

Globalworth Real Estate Inv Ltd

14 June 2016

 

Globalworth Real Estate Investments Limited

Update on completion of refinancing and issue of equity

Guernsey, 14 June 2016:  Globalworth Real Estate Investments Ltd. (AIM: GWI) ("Globalworth" or the "Company"), the real estate investment company targeting opportunities in Romania, is pleased to announce that, further to the announcements dated 31 May 2016 and 8 June 2016, drawdown under the €180 million bond transaction and repayment of the €100 million corporate level facility granted by an affiliate of York Capital Management Global Advisors, LLC, York Global Finance Offshore BDH (Luxembourg) S.à r.l. ("York"), and by funds managed and / or advised by Oak Hill Advisors (Europe), L.P. and / or its affiliates, has completed, including by way of the issue to York of 1,000,000 new shares (the "Shares") in satisfaction of €6,000,000 otherwise payable by the Company to York under the €100 million facility, subject only to admission of new Shares to trading on AIM ("Admission").

Application for Admission has been made to the London Stock Exchange plc and it is expected that Admission will become effective, and dealings in the new Shares on AIM will commence, on 15 June 2016.  The 1,000,000 new Shares will rank pari passu with the existing Shares of the Company.

Following Admission, the Company's enlarged issued share capital will comprise 64,023,987, Shares with voting rights in the Company. The Company holds no shares in treasury. Therefore the total number of the voting rights in the Company is 64,023,987, which may be used by shareholders in the Company 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 section 5 of the FCA's Disclosure and Transparency Rules as reflected in the Company's articles of incorporation.

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

Panmure Gordon (Nominated Adviser and Joint Broker)                   Tel: [phone]

Andrew Potts

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

Rick Thompson

David Foreman

Milbourne (Public Relations)                                                                          Tel: [phone]

Tim Draper

About Globalworth:

Globalworth Real Estate Investments Limited is a real estate investment company founded by real estate investor and developer Ioannis Papalekas currently focused on taking advantage of investment opportunities in Romania.  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 in search of higher yielding investments. As a result, Romania should, in due course, become a more attractive destination for a wide investor audience. Globalworth anticipates holding an early mover advantage in and benefitting from this gradual shift in investor sentiment.

 

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