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/.
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 Dividend Shares to certificated
shareholders
|
26
April
|
Scrip Dividend Alternative:
Crediting new Scrip Dividend Shares to accounts of CREST
shareholders
|
26
April
|
Expected date for issuance and
admission of new Scrip Dividend Shares to trading on AIM
|
26
April
|
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
or contact:
Enquiries
|
|
Rashid Mukhtar
Group CFO
|
Tel: +40 732 800 000
|
Panmure Gordon (Nominated Adviser
and Broker)
Dominic Morley
|
Tel: +44 20 7886 2500
|
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
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.