Last checked at 8 Jul 2015 11:30
Globalworth Real Estate Investments Limited
Update on Mr Papalekas
Guernsey, 8 July 2015: Globalworth Real Estate Investments Ltd. (AIM: GWI) ("Globalworth" or the "Company"), the real estate investment company targeting opportunities in Romania, is pleased to announce that further to the announcements on 19 December 2014 and 26 June 2015, the Company has now received confirmation in writing from the relevant Romanian authorities that Mr Papalekas, the CEO of the Company, has been formally released from all aspects of the criminal investigation referred to in those announcements.
For further information visit www.globalworth.com or contact:
Panmure Gordon (Nominated Adviser and Joint Broker) Tel: +44 20 7886 2500
Andrew Potts
Cantor Fitzgerald Europe (Joint Broker) Tel: +44 20 7894 7000
Rick Thompson
David Foreman
Milbourne (Public Relations) Tel: +44 20 3540 6458
Tim Draper
About Globalworth
Globalworth Real Estate Investments Limited is a real estate investment company founded by real estate investor and developer Ioannis Papalekas currently focused on taking advantage of investment opportunities in Romania. The Company is Guernsey incorporated and has been declared by the Guernsey Financial Services Commission to be a registered closed-ended collective investment scheme. The Company's shares were admitted to trading on AIM in July 2013.
The Romanian market offers an attractive real estate investment proposition in the medium-to-long term. Globalworth believes that global investor capital flows will gradually move from markets considered as "safe havens" to more peripheral markets such as Romania in search of higher yielding investments. As a result, Romania should, in due course, become a more attractive destination for a wide investor audience. Globalworth anticipates holding an early mover advantage in and benefitting from this gradual shift in investor sentiment.