Statement re Romanian Press

RNS Number : 3741A

Globalworth Real Estate Inv Ltd

19 December 2014

 

Globalworth Real Estate Investments Limited

("Globalworth" or the "Company") (AIM: GWI)

Guernsey, 19 December 2014: The board of directors of the Company (the "Board") has noted recent press comments regarding a criminal investigation in Romania and the involvement of Mr Ioannis Papalekas, the CEO of the Company, in that investigation.

Mr Papalekas has informed the Board that, following meetings with the prosecution team in Bucharest on 16 and 17 December 2014 in order to clarify the situation, and based on the information he provided at those meetings, the prosecutor has confirmed to him that there is no ongoing investigation of him.  The prosecutor also confirmed that the Company is not the subject of any part of the investigation.  Mr Papalekas has informed the Board that he expects this position to be formalised with the prosecutor shortly.

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

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

Andrew Potts

Duncan Monteith

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 is Guernsey incorporated and has been declared by the Guernsey Financial Services Commission to be a registered closed-ended collective investment scheme. 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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