Globalworth Real Estate Inv Ltd Statement re Shareholder Support (2500A)

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RNS Number : 2500A

Globalworth Real Estate Inv Ltd

28 May 2021

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

28 May 2021

Globalworth Real Estate Investments Limited ("Globalworth" or the "Company")

Growthpoint confirms intention not to accept Offer

Globalworth notes the announcement by Growthpoint Properties Limited ("Growthpoint") yesterday following the publication of the circular (the "Circular") by the Company in connection with the unsolicited cash offer by CPI Property Group S.A. and Aroundtown SA at EUR7.00 per Globalworth Share (the "Offer").

In the Circular, the committee of the Globalworth board comprising independent directors (the "Independent Committee") confirmed that it continues to believe that the Offer significantly undervalues Globalworth, its assets and its prospects.

The Independent Committee refers to the statement by the Growthpoint Board that it " agrees with the Independent Committee's belief that the Offer significantly undervalues the Company, its assets and its prospects and herewith confirms that Growthpoint does not intend to accept the Offer ".

The Independent Committee values the opinion and support of Growthpoint, which holds 29.5% of the entire issued share capital of the Company.

Enquiries:

 
     Globalworth                                                   Via advisers 
     Geoff Miller, Chair of the Board 
                                                          --------------------- 
 
     J.P. Morgan Cazenove (Financial Adviser)                  Tel: +44 20 7742 
                                                                           4000 
                                                          --------------------- 
     Massimo Saletti / Leon Li 
      Dwayne Lysaght / Jonty Edwards 
                                                          --------------------- 
 
     Panmure Gordon (Rule 3 Adviser, Nominated Adviser         Tel: +44 20 7886 
      and Joint Broker)                                                    2500 
                                                          --------------------- 
     Dominic Morley / Alina Vaskina 
                                             ----------------------------------

Important notices

This announcement is not intended to and does not constitute an offer to buy or the solicitation of an offer to subscribe for or sell or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction. The release, publication or distribution of this announcement in whole or in part in, into or from certain jurisdictions may be restricted by law and therefore persons in such jurisdictions should inform themselves about and observe such restrictions.

Disclaimer

J.P. Morgan Securities plc, which conducts its UK investment banking business as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"), is authorised in the United Kingdom by the Prudential Regulation Authority (the "PRA") and regulated in the United Kingdom by the PRA and the Financial Conduct Authority. J.P. Morgan Cazenove is acting as financial adviser exclusively for Globalworth and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters in this announcement and will not be responsible to anyone other than Globalworth for providing the protections afforded to clients of J.P. Morgan Cazenove or its affiliates, nor for providing advice in relation to any matter referred to herein.

Panmure Gordon (UK) Limited ("Panmure Gordon") which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Globalworth and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters in this announcement and will not be responsible to anyone other than Globalworth for providing the protections afforded to clients of Panmure Gordon or its affiliates, nor for providing advice in relation to any matter referred to herein.

Rule 26.1 Disclosure

In accordance with Rule 26.1 of the Code, a copy of this announcement will be available at www.globalworth.com, by no later than 12 noon (London time) on the business day following the date of this announcement. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

Appendix

Sources of Information and Bases of Calculation

The figures presented in this announcement are based upon:

   --    221,118,513 Globalworth shares in issue as per the Rule 2.9 disclosure on 14 April 2021

-- 65,238,742 Globalworth shares held by Growthpoint as per the Rule 8.3 disclosure on 27 April 2021, representing in aggregate approximately 29.50 per cent. of the existing issued share capital of Globalworth

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END

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