Update on Poland

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain.

12 April 2018

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

Update on Poland

Further to its announcement of 28 February 2018, Globalworth references the announcement by Globalworth Poland ("GPRE")1 on 12 April 2018 of the execution of a commitment letter with Growthpoint Properties Limited and Growthpoint Properties International Proprietary Limited ("Growthpoint")2, pursuant to the planned private placement of new shares in GPRE.

In relation to GPRE's potential forthcoming private placement, Growthpoint has conditionally agreed to subscribe for shares in GPRE, the Warsaw-listed entity in which Globalworth owns 71.7%, of no less than €120 million and no more than €150 million. GPRE has agreed to allocate shares subject to Growthpoint's and its associates' total direct or indirect shareholding being less than 30.0% of the fully diluted share capital of GPRE. Further conditions include (a) the passing at the general meeting of GPRE to be held on 26 April 2018 (or at any adjourned meeting) of resolutions approving the issue of the new shares and exclusion or limitation of pre-emptive rights in this respect3; (b) the receipt by Growthpoint of an underwriting fee equal to 1.5% of its respective equity investment for the commitment; and (c) the new shares being allotted and validly issued at the offer price of €1.57, as fully paid ordinary shares in the capital of GPRE (subject only to the admission to listing on the Warsaw Stock Exchange, which shall occur on or before 31 July 2018).

For further information visit www.globalworth.com or contact: 

Enquiries

Andrew Cox Tel: +44 20 3026 4027

Head of Investor Relations & Corporate Development

Jefferies (Joint Broker) Tel: +44 20 7029 8000

Stuart Klein

Panmure Gordon (Nominated Adviser and Joint Broker) Tel: +44 20 7886 2500

Andrew Potts

Milbourne (Public Relations) Tel: +44 7903 802545

Tim Draper

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 leading office investor in the Romanian real estate market and now has established a significant platform in Poland, through a 72% shareholding in Globalworth Poland, the new brand for Griffin Premium RE.. N.V. (GPRE), a pure-play Polish real estate platform listed on the Warsaw Stock Exchange. Globalworth acquires, develops and directly manages high-quality office and logistics/light-industrial real estate assets in prime locations, through which it benefits from a strong rental income profile from high quality tenants from around the globe. Managed by approximately 110 professionals across Romania and Poland, the combined value of its portfolio is €1.9 billion, of which over 90% is in income-producing assets, predominately in the office sector, and leased to some 440 national and multinational corporates from 28 countries and 37 different sectors. In Romania, Globalworth is present in Bucharest, Timisoara and Pitesti, whilst assets in Poland span Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice. For more information, please refer to http://www.globalworth.com/.

IMPORTANT NOTICE:

No public offer of securities is being made by virtue of this announcement.

This announcement has been prepared for the purposes of complying with the applicable laws and regulations of the United Kingdom and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws and regulations of any jurisdiction outside of the United Kingdom.

This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "targets", "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward looking statements include all matters that are not historical facts and involve predictions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's business, results of operations, financial position, liquidity, prospects, growth or strategies and the industry in which it operates. Forward-looking statements speak only as of the date they are made and cannot be relied upon as a guide to future performance. Save as required by law or regulation, the Company disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements in this announcement that may occur due to any change in its expectations or to reflect events or circumstances after the date of this announcement.