Interim Dividend & Scrip Alternative
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The Company is pleased to announce that its Board of Directors has approved the payment of an interim dividend in respect of the six month period ended 31 December 2023 of 11 cents per ordinary share (the "Interim Dividend"), which will be paid (or CREST accounts credited) in accordance with the timetable set out below.
At an extraordinary general meeting of the Company held on 8 March 2023, a resolution was passed to grant the Board of Directors the authority to offer a scrip dividend alternative to shareholders. The Company is pleased to announce that its Board of Directors intends to offer a scrip dividend alternative to the Interim Dividend (the "Scrip Dividend Alternative") so that Qualifying Shareholders can elect to receive new ordinary shares in the Company (the "Scrip Dividend Shares") instead of cash in respect of all or part of their entitlement to the Interim Dividend.
Qualifying Shareholders who validly elect to receive the Scrip Dividend Alternative will become entitled to a number of Scrip Dividend Shares in respect of their entitlement to the Interim Dividend that is based on a price per Scrip Dividend Share calculated on the basis of a discount of 20% to the average of the middle market quotations for the Company's shares as derived from the Daily Official List (or any other publication of a recognised investment exchange showing quotations for the Company's shares) on the five consecutive dealing days from and including the Ex-Dividend Date (the "Reference Price"). The Reference Price is expected to be announced on 28 March 2024.
The Company has received irrevocable undertakings from Zakiono Enterprises Ltd, CPI Property Group S.A. and Growthpoint Properties Ltd, who together hold approximately 92% of the current issued share capital of the Company (excluding shares held in treasury), to elect to receive the Scrip Dividend Alternative in respect of all of their shares and their full entitlement to the Interim Dividend.
IMPORTANT DATES AND TIMES
2024
| Ex-Dividend Date | 21 March |
| Record Date | 5.00 p.m. on 22 March |
| Announcement of the Reference Price | 7.00 a.m. on 28 March |
| Final time and date to elect to receive the Scrip Dividend Alternative | 5.00 p.m. on 9 April |
| Cash Dividend: Payment to CREST shareholders | 26 April |
| Cash Dividend: Payment to certificated shareholders | 26 April |
| Scrip Dividend Alternative: Posting of share certificates for new Scrip Dividend Shares to certificated shareholders | 26 April |
| Scrip Dividend Alternative: Crediting new Scrip Dividend Shares to accounts of CREST shareholders | 26 April |
| Expected date for issuance and admission of new Scrip Dividend Shares to trading on AIM | 26 April |
Globalworth is a listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange. It has become the pre-eminent office investor in the CEE real estate market through its market-leading positions both in Poland and Romania. Globalworth acquires, develops and directly manages high-quality office and industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by over 269 professionals across Cyprus, Guernsey, Poland and Romania the combined value of its portfolio is €3.0 billion, as at 31 December 2023. Approximately 96.8% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of over 715 national and multinational corporates. In Poland Globalworth is present in Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice, while in Romania it has assets in Bucharest and seven other cities.
Excluded Territories
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