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

Starwood European Real Estate FinanceAnnouncement

20/06/2023 07:15

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

   20-Jun-2023 / 07:00 GMT/BST

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                 Starwood European Real Estate Finance Limited

                           (the “Company” or “SEREF”)

                                        

                          Initial Capital Distribution

    

   The Board of Starwood European Real  Estate Finance Limited is pleased  to
   announce the Company’s first capital distribution following the amendments
   to the Company’s articles of incorporation approved by shareholders at the
   Extraordinary General Meeting held on 27 January 2023.

    

   The Company has resolved to make an initial capital distribution  totaling
   (after expenses) £10 million to SEREF shareholders by way of a  compulsory
   partial redemption of shares  at a price  of £1.0363 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 £15,000.

    

   Shareholder Information

    

   The Compulsory Redemption  will be affected  pro rata to  holdings on  the
   share register  as  at  the  close  of  business  on  26  June  2023  (the
   "Redemption Date"), being the record  date for the Compulsory  Redemption.
   Approximately 2.44 per cent. of the Company’s issued share capital will be
   redeemed on the  Redemption Date  (the “Redemption  Ratio”) equivalent  to
   approximately 9,649,715  of  the  Company’s issued  shares.  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  30 June 2023. Any
   certificates  currently  in  circulation  will  be  superseded  by  a  new
   certificate which will be distributed  to certificated shareholders by  30
   June 2023.

    

   The Company currently has 395,592,696 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, GG00B79WC100,  (the  "Old
   ISIN") will expire. The new ISIN number, GG00BQWPBM39, (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 27  June
   2023. 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:

   “In accordance  with  the Company’s  expectation  in SEREF’s  circular  to
   shareholders on 28 December 2022 to announce the first realisation in  H1,
   we are  pleased  to declare  an  initial redemption  distribution  of  £10
   million to  shareholders.  The  relatively modest  size  of  this  initial
   redemption  is  due  to  both  the  funding  of  a  special  dividend   to
   shareholders on 21 April 2023 of 2.0 pence per share and to the  repayment
   of the £19 million outstanding on  the Company’s own credit facilities  at
   the end of December 2022. We look forward to updating shareholders on  our
   next redemption in due course.”

    

    

    

   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:           GG00B79WC100
   Category Code:  MSCH
   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.:   251954
   EQS News ID:    1660665


    
   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=1660665&site_id=refinitiv&application_name=news


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