Completion of first acquisition

About this update from Globalworth Real Estate Investments Limited

[{"type":"text","content":"\n \nRNS Number : 1720P Globalworth Real Estate Inv Ltd 30 September 2013  \n\nGlobalworth Real Estate Investments Limited\nCompletion of first acquisition \n \nGuernsey, 30 September 2013: Globalworth Real Estate Investments Ltd. (AIM: GWI) (\"Globalworth\" or \"the Company\"), the real estate investment company targeting opportunities in Romania and the broader SEE and CEE regions, is pleased to announce the completion of the acquisition of Globalworth Asset Managers Srl (\"GAM\" or the \"Asset Manager\"), the first in its initial portfolio of real estate assets.\nIoannis Papalekas, Chief Executive Officer of the Company commented: \"In line with our communication to investors during the IPO process, GAM represents a milestone acquisition for Globalworth as not only does it own a number of high quality assets, but it also employs a team of very experienced and talented asset management professionals with a proven track record.  With the acquisition of GAM, Globalworth is positioned as a fully integrated real estate investment and management company able to take advantage of the significant investment opportunities that present themselves in our target markets.\"\nGAM is a real estate investment and asset management company founded and previously owned by Globalworth's Founder and CEO Ioannis Papalekas.  The acquisition of GAM took place in accordance with the terms and conditions of the Asset Manager Acquisition Agreement and the Founder Subscription Agreement as disclosed in the Company's Admission Document. As such, part of the transaction consideration has been satisfied through the issue to Zakiono Enterprises Limited, a Founder Company (as defined in the Admission Document) of 6,200,000 shares of no par value (\"Ordinary Shares\") at the placing price of Euro 5 per share.  Application will be made to AIM for these Ordinary Shares to be admitted to trading on AIM with this expected to occur on 4 October 2013. Following the above issue, the total issued share capital of the Company will comprise 16,918,703 Ordinary Shares.\nAs described in the Company's Admission Document, GAM is a fully-fledged real estate investment and operating company with a longstanding track record in acquiring, developing and managing real estate assets in Romania. GAM's main real estate investments, which form part of the I...

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