2016 year-end EPRA Net Asset Value

About this update from Globalworth Real Estate Investments Limited

[{"type":"text","content":"\n \nRNS Number : 2941Y Globalworth Real Estate Inv Ltd 02 March 2017  \n\n2 March 2017\n \nThe 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 inside information is now considered to be in the public domain. \n \nGlobalworth Real Estate Investments Limited \n31 December 2016 year-end EPRA Net Asset Value\nGlobalworth Real Estate Investments Limited (\"Globalworth\" or the \"Company\") is pleased to announce its 31 December 2016 year-end unaudited EPRA Net Asset Value and other key financial metrics.\nKey highlights are as follows:\n•         Portfolio Open Market Value (\"OMV\")1 of €977.5m, up 5.0% as compared to 31 December 2015 (€931.1m), mainly as a result of the revaluation of Globalworth Tower and Gara Herastrau office properties to their fair values following their completion in 2016 and capital expenditure on investment properties under development.\n•          Loan to Value of 43.4 per cent, down marginally compared to at 31 December 2015 (43.9 per cent)\n•          NAV of €715.4m, up 43.2% as compared to 31 December 2015 (€499.7m)\n•          EPRA2 NAV of €783.8m, up 37.9% compared to 31 December 2015 (€568.3m)\n•          NAV per share of €7.913, down marginally compared to 31 December 2015 (€7.98)\n•          The Company in December 2016 successfully completed a €200 million new equity capital raise at €8.0 per share. This transformational transaction was subscribed by Growthpoint Properties Limited (\"GRT\") and certain funds and/or accounts managed by Oak Hill Advisors (Europe), LLP and its affiliates (\"Oak Hill\"), and resulted in GRT becoming the largest shareholder in the Company with 26.9%. NAV and EPRA NAV per share were impacted following the Company's latest capital raise, which resulted in the issuance of c.27.1m5 new shares.\n•          EPRA NAV per share4 of €8.57, down 5.6% as compared to 31 December 2015 (€9.08)\n•...

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