1st Quarter Results

About this update from Globalworth Real Estate Investments Limited

[{"type":"text","content":"\n \nRNS Number : 7131N Globalworth Real Estate Inv Ltd 30 July 2014  \n \n\nGlobalworth Real Estate Investments Limited\nUnaudited Condensed Consolidated Financial Statements for the three month period ended 31 March 2014\nQ1 2014 period-end EPRA Net Asset Value\nGlobalworth Real Estate Investments Limited (\"Globalworth\" or the \"Company\") is pleased to release the following:\n·     Unaudited Condensed Consolidated Financial Statements for the three month period ended 31 March 2014; and\n·     Q1 2014 period-end EPRA Net Asset Value.\nThe quarterly financial statements have been prepared by the Company on a voluntary basis for the information of the Company's shareholders following completion of the following material transactions during the three month period ended 31 March 2014:\na.            Acquisition of:\ni.             Upground Estates S.R.L.;\nii.            Tower Center International; and\niii.          Oystermouth Holding Limited and Dunvant Holding Limited (holding companies of BOB Development S.R.L. BOC Real Property S.R.L., and Netron Investment S.R.L.)\nb.            Drawdown of the short term debt facility obtained from UBS Limited (\"UBS\")\nThe EPRA Net Asset Value as of 31 March 2014 is presented in accordance with the stated intention of the Company to publish its estimated NAV on a quarterly basis.\nKey highlights are as follows:\n•              Portfolio Open Market Value (\"OMV\") of € 490.7 million\n•              Bank loans outstanding (nominal value) of € 243.8 million\n•              Loan to Value of 49.7 per cent\n•              EPRA NAV of € 263.4 million\n•              EPRA NAV/share of € 9.31\nBoth the quarterly financial statements and the EPRA NAV are availab...

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