EGM Results

RNS Number : 2347S

Globalworth Real Estate Inv Ltd

19 December 2016

 

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

19 December 2016

Globalworth Real Estate Investments Limited ("Globalworth" or the "Company")

Subscription update

Globalworth EGM Results

On 1 December 2016, the Board of Globalworth announced ("Announcement") it had agreed with Growthpoint Properties Limited ("GRT") and certain funds and/or accounts managed by Oak Hill Advisors (Europe) LLP and its affiliates ("Oak Hill") the terms upon which GRT (through its wholly owned subsidiary Growthpoint Properties International Proprietary Limited) will conditionally subscribe for 23,300,000 and Oak Hill will conditionally subscribe for 1,700,000 Shares respectively (together the "Subscription Shares") in each case at an amount of €8 per Subscription Share to raise €200 million before expenses (the "Subscription").

The Subscription was conditional on: (i) the passing of the required Globalworth shareholder resolutions (the "Resolutions"); (ii) approval from the Financial Surveillance Department of the South African Reserve Bank ("SARB Approval"); and (iii) admission of the Subscription Shares and the first tranche of the Fee Shares to trading on AIM becoming effective in accordance with the AIM Rules ("Admission").

Following the Company's announcement on 7 December 2016 confirming that SARB Approval has been received (the "SARB Announcement"), the Board of Globalworth is pleased to announce that at an Extraordinary General Meeting of Company shareholders held earlier today the Resolutions were duly passed.

Details of the vote in respect of the Resolutions are set out below:

Resolution	For		Against		Withheld
	Number	%	Number	%	Number	%
1.   SPECIAL RESOLUTION: Approval of Proposal	55,950,666	100	0	0	0	0
2.    SPECIAL RESOLUTION: Adoption of New Articles	53,429,505	95.49	2,521,161	4.51	0	0
3.    ORDINARY RESOLUTION: General authority to issue Shares	54,532,538	97.47	1,418,128	2.53	0	0
4.    SPECIAL RESOLUTION: Disapplication of general pre-emption	54,532,538	97.47	1,418,128	2.53	0	0
5.    SPECIAL RESOLUTION: Disapplication of pre-emption in respect of the Subscription and the Fee Shares	55,950,666	100	0	0	0	0

The Company currently expects all remaining conditions to be satisfied and the Subscription to become unconditional by 20 December 2016.

Terms which are not otherwise defined in this announcement have the meanings given to them in the Announcement.

A full copy of the Announcement, the Circular, the SARB Announcement and this announcement can be found here:

www.globalworth.com/investor-relations/key-corporate-documents.aspx

Enquiries:

Globalworth Real Estate Investments Limited                                                                       Tel: [phone]
Dimitris Raptis

Deutsche Bank AG, London Branch (Financial Adviser to Globalworth)                     Tel: [phone]
James Maizels

Panmure Gordon (Nominated Adviser and Joint Broker to Globalworth)                Tel: [phone]
Andrew Potts

Cantor Fitzgerald Europe (Joint Broker to Globalworth)                                                 Tel: + 44 20 7894 7000
Rick Thompson
David Foreman

Milbourne (Public Relations adviser to Globalworth)                                                    Tel: + 44 07903 802545
Tim Draper                                        

About Globalworth

Globalworth is a real estate investment company active in the SEE and CEE regions with a prime focus on Romania. The Company is internally managed by c.70 professionals and its portfolio currently comprises 15 high quality real estate investments currently valued at c. Euro 962.4 million, all located in Romania.

IMPORTANT INFORMATION

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

Deutsche Bank AG is authorised under German Banking Law (competent authority: European Central Bank) and, in the United Kingdom, by the Prudential Regulation Authority. It is subject to supervision by the European Central Bank and by BaFin, Germany's Federal Financial Supervisory Authority, and is subject to limited regulation in the United Kingdom by the Prudential Regulation Authority and Financial Conduct Authority. Details about the extent of its authorisation and regulation by the Prudential Regulation Authority, and regulation by the Financial Conduct Authority, are available on request or from www.db.com/en/content/eu_disclosures.htm.

Deutsche Bank AG, acting through its London branch ("DB"), is acting as financial adviser to Globalworth and no other person in connection with this announcement or its contents. DB will not be responsible to any person other than Globalworth for providing any of the protections afforded to clients of DB, nor for providing any advice in relation to any matter referred to herein. Without limiting a person's liability for fraud, neither DB nor any of its subsidiary undertakings, branches or affiliates nor any of its or their respective directors, officers, representatives, employees, advisers or agents owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of DB in connection with this announcement, any statement contained herein or otherwise.

 

END

 

 

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