REG-Starwood European Real Estate Finance Ltd SWEF: Fourth Capital Distribution

Starwood European Real Estate FinanceAnnouncement

20/02/2024 07:15

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   Starwood European Real Estate Finance Ltd (SWEF)
   SWEF: Fourth Capital Distribution

   20-Feb-2024 / 07:00 GMT/BST

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                 Starwood European Real Estate Finance Limited

                           (the “Company” or “SEREF”)

                                        

                        £20 Million Capital Distribution

    

   The Board of Starwood European Real  Estate Finance Limited is pleased  to
   announce  the  Company’s  fourth  capital  distribution  of  circa   £20.0
   million. 

    

   This distribution is being funded  by the previously announced full  €18.8
   million repayment  of  the  Company’s  Office,  Madrid  loan  received  in
   December 2023 and a partial repayment,  received in January 2024, of  €6.0
   million from Hotel, Dublin.

    

   Fourth Capital Distribution

    

   Accordingly,  the  Company   has  resolved  to   make  a  fourth   capital
   distribution  totalling  (after  expenses) circa  £20.0  million to  SEREF
   shareholders by way  of a  compulsory partial  redemption of  shares at  a
   price of £1.0308 per share (being the  last published NAV per share  prior
   to this announcement) (the “Compulsory Redemption”). The amount applied to
   the Compulsory Redemption  is after  the deduction of  costs and  expenses
   which are expected to be circa £10,000.

    

   Shareholder Information

    

   The Compulsory Redemption  will be affected  pro rata to  holdings on  the
   share register  as at  the close  of  business on  22 February  2024  (the
   "Redemption Date"), being the record  date for the Compulsory  Redemption.
   Circa 6.19  per  cent. of  the  Company’s  issued share  capital  will  be
   redeemed on the  Redemption Date  (the “Redemption  Ratio”). Fractions  of
   shares produced  by the  Redemption Ratio  will not  be redeemed,  so  the
   number of shares to be compulsorily redeemed from each shareholder will be
   rounded down to the nearest whole number of shares.

    

   Payments of redemption monies are  expected to be affected either  through
   CREST (in the case of shares held in uncertificated form) or by cheque (in
   the case of  shares held in  certificated form) by  28 February  2024. Any
   certificates  currently  in  circulation  will  be  superseded  by  a  new
   certificate which will be distributed  to certificated shareholders by  28
   February 2024.

    

   The Company currently has 313,690,942 shares  in issue. All of the  shares
   redeemed on the  Redemption Date  will be cancelled  and accordingly  will
   thereafter be  incapable of  transfer by  shareholders or  reissue by  the
   Company.

    

   The shares  will be  disabled in  CREST  after close  of business  on  the
   Redemption Date  and the  existing ISIN  number, GG00BQRGMH31,  (the  "Old
   ISIN") will expire. The new ISIN number, GG00BP6VJD72, (the "New ISIN") in
   respect of the remaining shares which have not been compulsorily  redeemed
   will be  enabled and  available  for transactions  from  8.00 a.m.  on  23
   February 2024. The share price TIDM, “SWEF.L”, will remain unchanged.  For
   the period up to and including the Redemption Date, shares will be  traded
   under the Old  ISIN and as  such, a purchaser  of such shares  may have  a
   market claim for  a proportion  of the redemption  proceeds following  the
   activation of the  New ISIN.  CREST will automatically  transfer any  open
   transactions as at the Redemption Date to the New ISIN.

    

   John Whittle Chairman of the Company commented:

   “We were pleased to receive a partial repayment of €6.0m in January  which
   further increased the capital available to the Company following the  full
   repayment of Office, Madrid in December. As a result, we have resolved  to
   proceed in returning capital to  shareholders promptly through the  Fourth
   Capital Distribution announced today. Our  aim is to continue to  expedite
   regular distributions whenever practicable and we look forward to updating
   shareholders on further capital returns in the coming months.”

    

   For further information, please contact:

    

   Apex Fund and Corporate Services (Guernsey) Limited as Company Secretary

    

   Duke Le Prevost

   T: +44 (0) 203 5303 660

   E:  1 starwood@apexgroup.com

    

   Notes: 

   Starwood European  Real Estate  Finance Limited is  an investment  company
   listed on the main market of the London Stock Exchange with an  investment
   objective  to  conduct  an  orderly  realisation  of  the  assets  of  the
   Company.  2 www.starwoodeuropeanfinance.com

    

   The Group's  assets  are  managed by Starwood  European  Finance  Partners
   Limited, an  indirect  wholly-owned  subsidiary  of  the Starwood  Capital
   Group.

    

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   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GG00BQRGMH31
   Category Code:  MSCU
   TIDM:           SWEF
   LEI Code:       5493004YMVUQ9Z7JGZ50
   OAM Categories: 2.5. Total number of voting rights and capital
                   3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   304679
   EQS News ID:    1840445


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:starwood@apexgroup.com
   2. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=27e2a13e1c60d1ed54a852446a61d90a&application_id=1840445&site_id=refinitiv&application_name=news


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