Globalworth Real Est (AIM:GWI) Further update on Investment in Poland

On 4 October 2017, the Board of Globalworth announced (the “Announcement”) that its subsidiary Globalworth Asset Managers SRL (“GAM”) had entered into a conditional investment agreement to acquire a minimum of 50.01% and up to 67.90% of the issued share capital of Griffin Premium RE.. N.V. (“GPRE”), a Dutch entity listed on the Warsaw Stock Exchange, to be effected by way of the Tender Offer (the “Investment”).

The Board of Globalworth today notes that the board of directors of GPRE has withdrawn two resolutions from the agenda of GPRE’s EGM to be held on 15 November 2017, namely (1) the conditional authorisation to issue shares and grant rights to acquire shares and (2) the conditional authorisation to restrict or exclude pre-emptive rights. A further GPRE EGM has been called for 8 January 2018 (the “January  EGM”) at which a resolution will be proposed to revise GPRE’s articles of association  to provide for a qualified majority of at least 75% of the votes cast for any issue of new shares representing more than 10% of GPRE’s share capital.  

The Company supports the above changes and has accordingly agreed to waive the related conditions to its Investment, as set out in the Investment Agreement and, further, the Company confirms its intention to vote in favour of the resolution at the January EGM.

The Company currently expects all remaining conditions to be satisfied, the Tender Offer to be closed and completion of the Investment, prior to 31 December 2017.

Terms which are not otherwise defined in this announcement have the meanings given to them in the Announcement.

A full copy of the Announcement can be found here:

The Board of Globalworth will continue to keep shareholders updated as appropriate.

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