Intention to raise additional equity capital

About this update from Globalworth Real Estate Investments Limited

[{"type":"text","content":"\n \nRNS Number : 3867W Globalworth Real Estate Inv Ltd 14 November 2017  \n\n14 November 2017\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 information is considered to be in the public domain\n \nGlobalworth Real Estate Investments Limited\n(\"Globalworth\" or the \"Company\")\nIntention to raise additional equity capital, dividend guidance and notice of EGM\nIn response to significant investor interest and to take advantage of a pipeline of attractive investment opportunities in both Poland and Romania, the Board of Globalworth (AIM: GWI) today announces its intention to raise in the region of €300 million additional equity capital through a non-pre-emptive issue of new ordinary shares, with the ability to flex this dependent on demand. The Company has received strong indications of support from existing and new investors for this equity raise and currently expects to price it at or around prevailing EPRA NAV per share.  \nIn addition to funding further investments, a key objective of the intended equity raise will be to attract new institutional investors and broaden the liquidity of the Company's shares ahead of its planned move to the Main Market of the London Stock Exchange in 2018.  The equity raise will also assist the Company in managing its gearing strategy to a target LTV of 35%.  \nThe Board also confirms that based on the current timetable any placing shares will be entitled to the H2-17 dividend previously stated at €0.22 per share, anticipated to be paid in January 2018. Consistent with the target of a sustainable and growing dividend, the Board is pleased to indicate a prospective H1-18 dividend of not less than €0.27 (or not less than €0.54 annualised) anticipated to be paid in August 2018.  \nA further announcement providing details of the proposed equity raise will be issued in due course. In order to provide the shareholder authorities necessary to issue shares as part of the proposed equity raise, a circular (the \"Circular\") convening an Extraordinary General Meeting (\"EGM\") at which the required shareholder approvals will be sought is today being published and sent to shareholders. In addition to containing ...

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