REG - Globalworth Real Est - Interim Dividend & Scrip Alternative

Globalworth Real Estate InvestmentsAnnouncement

12/03/2024 16:15

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RNS Number : 5773G  Globalworth Real Estate Inv Ltd  12 March 2024

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. THE INFORMATION CONTAINED
HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY
JURISDICTION.

FOR IMMEDIATE RELEASE

12 March 2024

Globalworth Real Estate Investments Limited

("Globalworth" or the "Company")

Interim Dividend Payment and Scrip Dividend Alternative

 

The Company is pleased to announce that its Board of Directors has approved
the payment of an interim dividend in respect of the six month period ended 31
December 2023 of 11 cents per ordinary share (the "Interim Dividend"), which
will be paid (or CREST accounts credited) in accordance with the timetable set
out below.

 

At an extraordinary general meeting of the Company held on 8 March 2023, a
resolution was passed to grant the Board of Directors the authority to offer a
scrip dividend alternative to shareholders. The Company is pleased to announce
that its Board of Directors intends to offer a scrip dividend alternative to
the Interim Dividend (the "Scrip Dividend Alternative") so that Qualifying
Shareholders can elect to receive new ordinary shares in the Company (the
"Scrip Dividend Shares") instead of cash in respect of all or part of their
entitlement to the Interim Dividend.

 

The Company will today publish a shareholder circular in relation to the Scrip
Dividend Alternative (the "Scrip Dividend Circular") and a form of election to
be completed by certain non-CREST Qualifying Shareholders who wish to elect to
receive the Scrip Dividend Alternative (the "Scrip Mandate Form"). The Scrip
Dividend Circular will include a letter from the Board of Directors setting
out further information on the Scrip Dividend Alternative, including how
Qualifying Shareholders can elect to receive the Scrip Dividend Alternative
and certain UK tax consequences of electing to receive the Scrip Dividend
Alternative. The Scrip Dividend Circular and the Scrip Mandate Form will be
available on the Company's website at
https://www.globalworth.com/investor-relations/corporate-documents/
(https://www.globalworth.com/investor-relations/corporate-documents/) .

 

Qualifying Shareholders who validly elect to receive the Scrip Dividend
Alternative will become entitled to a number of Scrip Dividend Shares in
respect of their entitlement to the Interim Dividend that is based on a price
per Scrip Dividend Share calculated on the basis of a discount of 20% to the
average of the middle market quotations for the Company's shares as derived
from the Daily Official List (or any other publication of a recognised
investment exchange showing quotations for the Company's shares) on the five
consecutive dealing days from and including the Ex-Dividend Date (the
"Reference Price"). The Reference Price is expected to be announced on 28
March 2024.

 

The Company has received irrevocable undertakings from Zakiono Enterprises
Ltd, CPI Property Group S.A. and Growthpoint Properties Ltd, who together hold
approximately 92% of the current issued share capital of the Company
(excluding shares held in treasury), to elect to receive the Scrip Dividend
Alternative in respect of all of their shares and their full entitlement to
the Interim Dividend.

 

The Scrip Dividend Circular should be read in full before electing to receive
the Scrip Dividend Alternative. This announcement is not a summary of the
Scrip Dividend Circular and should not be regarded as a substitute for reading
the Scrip Dividend Circular in full.

 

All capitalised terms used in this announcement shall, unless otherwise
defined, have the meanings given to them in the Scrip Dividend Circular.

 

IMPORTANT DATES AND TIMES

 

                                                                                 2024
 Ex-Dividend Date                                                                21 March
 Record Date                                                                     5.00 p.m. on 22 March
 Announcement of the Reference Price                                             7.00 a.m. on 28 March
 Final time and date to elect to receive the Scrip Dividend Alternative          5.00 p.m. on 9 April
 Cash Dividend: Payment to CREST shareholders                                    26 April
 Cash Dividend: Payment to certificated shareholders                             26 April
 Scrip Dividend Alternative: Posting of share certificates for new Scrip         26 April
 Dividend Shares to certificated shareholders
 Scrip Dividend Alternative: Crediting new Scrip Dividend Shares to accounts of  26 April
 CREST shareholders
 Expected date for issuance and admission of new Scrip Dividend Shares to        26 April
 trading on AIM

 

 

The above times and/or dates may be subject to change and, in the event of
such change, the revised times and/or dates will be notified to shareholders
by an announcement through a regulatory information service.

For further information visit www.globalworth.com
(http://www.globalworth.com/) or contact:

 Enquiries

 Rashid Mukhtar                                 Tel: +40 732 800 000

 Group CFO

 Panmure Gordon (Nominated Adviser and Broker)  Tel: +44 20 7886 2500

 Dominic Morley

About Globalworth / Note to Editors:

Globalworth is a listed real estate company active in Central and Eastern
Europe, quoted on the AIM-segment of the London Stock Exchange. It has become
the pre-eminent office investor in the CEE real estate market through its
market-leading positions both in Poland and Romania. Globalworth acquires,
develops and directly manages high-quality office and industrial real estate
assets in prime locations, generating rental income from high quality tenants
from around the globe. Managed by over 269 professionals across Cyprus,
Guernsey, Poland and Romania the combined value of its portfolio is €3.0
billion, as at 31 December 2023. Approximately 96.8% of the portfolio is in
income-producing assets, predominately in the office sector, and leased to a
diversified array of over 715 national and multinational corporates. In
Poland Globalworth is present in Warsaw, Wroclaw, Lodz, Krakow, Gdansk and
Katowice, while in Romania it has assets in Bucharest and seven other cities.

For more information, please visit www.globalworth.com
(http://www.globalworth.com) and follow us on Facebook, Instagram and
LinkedIn.

Excluded Territories

 

The release, publication or distribution of this announcement in jurisdictions
other than the United Kingdom may be restricted by law and therefore any
persons who are subject to the laws of any jurisdiction other than the United
Kingdom should inform themselves about, and observe, any applicable legal or
regulatory requirements. In particular, the ability of persons who are not
resident in the United Kingdom or who are subject to the laws of another
jurisdiction to elect to receive the Scrip Dividend Alternative may be
affected by the laws of the relevant jurisdictions in which they are located
or to which they are subject. Any failure to comply with applicable legal or
regulatory requirements of any jurisdiction may constitute a violation of
securities laws in that jurisdiction.

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