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

Starwood European Real Estate FinanceAnnouncement

20/02/2025 07:15

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

   20-Feb-2025 / 07:01 GMT/BST

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                 Starwood European Real Estate Finance Limited

                           (the “Company” or “SEREF”)

                                        

                 Seventh Capital Distribution of £46.0 Million

    

   The Board of Starwood European Real  Estate Finance Limited is pleased  to
   announce the  Company’s seventh  capital  distribution of  £46.0  million,
   funded by  the  repayment in  full  of  the Hotels,  United  Kingdom  loan
   received in January 2025.

    

   Seventh Capital Distribution

    

   The Board has  decided to  make a seventh  capital distribution  totalling
   c. £46.0 million (after  expenses) to  SEREF  shareholders  by  way  of  a
   compulsory partial redemption of  shares at a  price of £1.0024 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 effected  pro rata to  holdings on  the
   share register  as  at the  close  of business  on  21 February 2025  (the
   "Redemption Date"), being the record  date for the Compulsory  Redemption.
   Circa 23.66  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 effected 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 2025. Any
   certificates  currently  in  circulation  will  be  superseded  by  a  new
   certificate which  will be  distributed  to certificated  shareholders  by
   28 February 2025.

    

   The Company currently has 193,929,633 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, GG00BPLZ2K28,  (the  "Old
   ISIN") will expire. The new ISIN number, GG00BTZJM644, (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
   24 February 2025, which is also the Ex-date for the Compulsory Redemption.
   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 are pleased to be able to announce further significant progress in our
   objective to  return  capital to  shareholders,  with this  £46.0  million
   distribution funded by the  repayment of one loan  in January 2025.  There
   now  remain  six  loan  investments   in  the  portfolio,  against   which
   encouraging progress is being made.  We look forward to providing  further
   updates on capital returns 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 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:           GG00BPLZ2K28
   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.:   376664
   EQS News ID:    2088817


    
   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=2088817&site_id=refinitiv~~~456f380e-074c-434c-ab61-d8ca972fa0de&application_name=news


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