Director/PDMR Shareholding

RNS Number : 9349M

Globalworth Real Estate Inv Ltd

25 January 2016

 

Globalworth Real Estate Investments Limited

Director/PDMR Shareholding

Guernsey 25 January 2016: Globalworth Real Estate Investments Ltd. (AIM: GWI) ("Globalworth" or the "Company") announces the issue of 407,296 ordinary shares of no par value in the Company ("Ordinary Shares") to the executive directors and other senior management employees.  This forms part of the financial year 2013 and 2014 remuneration of the executives and employees and has been approved by the Board following the recommendation of the Remuneration Committee of the Company.  The Ordinary Shares have been issued at €5.77 per Ordinary Share, representing the volume-weighted average market price over the 90 trading days prior to the date of allotment, as follows:

Ioannis Papalekas	Founder and Chief Executive Officer	259,976 Ordinary Shares
Dimitris Raptis	Deputy CEO and Chief Investment Officer	86,659 Ordinary Shares
Other employees	-	60,661 Ordinary Shares

In addition to the above share issues, entities controlled by Mr Papalekas have bought 130,000 Ordinary Shares at €5.77 per Ordinary Share in an off-market transaction.

Following the above transactions, Mr Papalekas now holds a beneficial interest in 22,993,768 Ordinary Shares, equivalent to 36.5% per cent of the issued Ordinary Share capital, as enlarged.

Mr Raptis has a beneficial interest in 280,007 Ordinary Shares, equivalent to 0.4 per cent of the issued Ordinary Share capital, as enlarged.

Application has been made for 407,296 new Ordinary Shares to be admitted to trading on AIM on 1 February 2016.  Following admission of these Ordinary Shares, the Company's enlarged issued share capital will comprise 63,023,987 Ordinary Shares with voting rights in the Company. As the Company holds no shares in treasury, 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 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]

Nicola Marrin

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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