Globalworth Real Estate Inv Ltd EGM Results (2347S)

TIDMGWI

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 EUR8 per Subscription Share to raise EUR200 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 19, 2016 05:45 ET (10:45 GMT)