SWEF: Fourth Capital Distribution
20.02.2024 - 08:00:13SWEF: Fourth Capital Distribution. Starwood European Real Estate Finance Ltd / GG00BQRGMH31
| Starwood European Real Estate Finance Ltd (SWEF) 20-Feb-2024 / 07:00 GMT/BST Starwood European Real Estate Finance Limited (the “Company” or “SEREF”) £20 Million Capital Distribution The Board of Starwood European Real Estate Finance Limited is pleased to announce the Company’s fourth capital distribution of circa £20.0 million. This distribution is being funded by the previously announced full €18.8 million repayment of the Company’s Office, Madrid loan received in December 2023 and a partial repayment, received in January 2024, of €6.0 million from Hotel, Dublin. Fourth Capital Distribution Accordingly, the Company has resolved to make a fourth capital distribution totalling (after expenses) circa £20.0 million to SEREF shareholders by way of a compulsory partial redemption of shares at a price of £1.0308 per share (being the last published NAV per share prior to this announcement) (the “Compulsory Redemption”). The amount applied to the Compulsory Redemption is after the deduction of costs and expenses which are expected to be circa £10,000. Shareholder Information The Compulsory Redemption will be affected pro rata to holdings on the share register as at the close of business on 22 February 2024 (the "Redemption Date"), being the record date for the Compulsory Redemption. Circa 6.19 per cent. of the Company’s issued share capital will be redeemed on the Redemption Date (the “Redemption Ratio”). Fractions of shares produced by the Redemption Ratio will not be redeemed, so the number of shares to be compulsorily redeemed from each shareholder will be rounded down to the nearest whole number of shares. Payments of redemption monies are expected to be affected either through CREST (in the case of shares held in uncertificated form) or by cheque (in the case of shares held in certificated form) by 28 February 2024. Any certificates currently in circulation will be superseded by a new certificate which will be distributed to certificated shareholders by 28 February 2024. The Company currently has 313,690,942 shares in issue. All of the shares redeemed on the Redemption Date will be cancelled and accordingly will thereafter be incapable of transfer by shareholders or reissue by the Company. The shares will be disabled in CREST after close of business on the Redemption Date and the existing ISIN number, GG00BQRGMH31, (the "Old ISIN") will expire. The new ISIN number, GG00BP6VJD72, (the "New ISIN") in respect of the remaining shares which have not been compulsorily redeemed will be enabled and available for transactions from 8.00 a.m. on 23 February 2024. The share price TIDM, “SWEF.L”, will remain unchanged. For the period up to and including the Redemption Date, shares will be traded under the Old ISIN and as such, a purchaser of such shares may have a market claim for a proportion of the redemption proceeds following the activation of the New ISIN. CREST will automatically transfer any open transactions as at the Redemption Date to the New ISIN. John Whittle Chairman of the Company commented: “We were pleased to receive a partial repayment of €6.0m in January which further increased the capital available to the Company following the full repayment of Office, Madrid in December. As a result, we have resolved to proceed in returning capital to shareholders promptly through the Fourth Capital Distribution announced today. Our aim is to continue to expedite regular distributions whenever practicable and we look forward to updating shareholders on further capital returns in the coming months.” For further information, please contact: Apex Fund and Corporate Services (Guernsey) Limited as Company Secretary Duke Le Prevost T: +44 (0) 203 5303 660 E: starwood@apexgroup.com Notes: Starwood European Real Estate Finance Limited is an investment company listed on the main market of the London Stock Exchange with an investment objective to conduct an orderly realisation of the assets of the Company. www.starwoodeuropeanfinance.com The Group's assets are managed by Starwood European Finance Partners Limited, an indirect wholly-owned subsidiary of the Starwood Capital Group. Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
| ISIN: | GG00BQRGMH31 |
| Category Code: | MSCU |
| TIDM: | SWEF |
| LEI Code: | 5493004YMVUQ9Z7JGZ50 |
| OAM Categories: | 2.5. Total number of voting rights and capital |
| 3.1. Additional regulated information required to be disclosed under the laws of a Member State | |
| Sequence No.: | 304679 |
| EQS News ID: | 1840445 |
| End of Announcement | EQS News Service |
| |
