Globalworth Real Estate Inv Ltd Interim Dividend & Scrip Alternative (7222K)
August 30 2023 - 2:00AM
UK Regulatory
TIDMGWI
RNS Number : 7222K
Globalworth Real Estate Inv Ltd
30 August 2023
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
30 August 2023
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 30 June 2023 of 14 cents per ordinary share
(the "Interim Dividend"), which will be paid (or CREST accounts
credited) in accordance with the timetable set out below.
At the 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 14 September 2023.
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
2023
Ex-Dividend Date 7 September
Record Date 5.00 p.m. on 8 September
Announcement of the Reference Price 7.00 a.m. on 14
September
Final time and date to elect to receive 5.00 p.m. on 22
the Scrip Dividend Alternative September
Cash Dividend: Payment to CREST shareholders 10 October
Cash Dividend: Payment to certificated 10 October
shareholders
Scrip Dividend Alternative: Posting of 10 October
share certificates for new Scrip Dividend
Shares to certificated shareholders
Scrip Dividend Alternative: Crediting 10 October
new Scrip Dividend Shares to accounts
of CREST shareholders
Expected date for issuance and admission 10 October
of new Scrip Dividend Shares to trading
on AIM
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 Tel: +40 732 800 000
Group Head of Finance
Panmure Gordon (Nominated Adviser and Tel: +44 20 7886 2500
Broker)
Dominic Morley
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 250 professionals across
Cyprus, Guernsey, Poland and Romania the combined value of its
portfolio is EUR3.1 billion, as at 30 June 2023. Approximately
96.9% of the portfolio is in income-producing assets, predominately
in the office sector, and leased to a diversified array of over 700
national and multinational corporates. In Poland Globalworth is
present in Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice,
while in Romania its assets span Bucharest, Timisoara, Constanta,
Pitesti, Arad, Oradea and Targu Mures.
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.
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END
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