Repayment of debt facility and issue of equity

About this update from Globalworth Real Estate Investments Limited

[{"type":"text","content":"\n \nRNS Number : 6427A Globalworth Real Estate Inv Ltd 08 June 2016  \n\nGlobalworth Real Estate Investments Limited\nUpdate on repayment of existing Euro 100 million debt facility and issue of equity\nGuernsey, 8 June 2016:  Globalworth Real Estate Investments Ltd. (AIM: GWI) (\"Globalworth\" or the \"Company\"), the real estate investment company targeting opportunities in Romania, announced on 31 May 2016 that it had signed a three year €180 million fully subscribed bond transaction, part of the proceeds of which would go towards repaying the €100 million corporate level facility (the \"Existing Facility\") granted by an affiliate of York Capital Management Global Advisors, LLC, through York Global Finance Offshore BDH (Luxembourg) S.à r.l. (\"York\") and by funds managed and/or advised by Oak Hill Advisors (Europe), L.P. and/or its affiliates (\"Oak Hill\").\nThe Company is pleased to announce that it has entered into an agreement with York and Oak Hill pursuant to which (subject to the satisfaction of certain conditions precedent, including in relation to the bond transaction) York has agreed that  €6 million of the aggregate amount payable by the Company to York, in respect of certain amounts payable by the Company under the Existing Facility, will convert into an entitlement to receive 1 million shares in the Company (\"Shares\") at a conversion price of €6.00 per Share.\nThe price of €6.00 per Share is the same as the placing price at the last fundraising by the Company in September 2015, and equates to a premium of 18 per cent. to the closing middle-market price on 8 June 2016.\nIt is expected that the Existing Facility will be repaid, and that the Shares will be issued, shortly.   \nFor further information visit www.globalworth.com  or contact: \nPanmure Gordon (Nominated Adviser and Joint Broker)                   Tel: +44 20 7886 2500\nAndrew Potts\n \nCantor Fitzgerald Europe (Joint Broker)                                                      Tel: +44 20 7894 70...

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