DJ SWEF: Fifth Capital Distribution
Starwood European Real Estate Finance Ltd (SWEF)
SWEF: Fifth Capital Distribution
19-March-2024 / 07:00 GMT/BST
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Starwood European Real Estate Finance Limited
(the "Company" or "SEREF")
GBP25.0 Million Capital Distribution
The Board of Starwood European Real Estate Finance Limited is pleased to announce the Company's fifth capital
distribution.
This capital distribution will be for c. GBP25.0 million and is being funded primarily by the following repayments
received in March 2024: EUR12.4 million in full repayment of the Company's Shopping Centre, Spain loan and EUR19.2 million
received in partial repayment of the Three Shopping Centres, Spain.
Fifth Capital Distribution
Accordingly, the Company has resolved to make a fifth capital distribution totalling (after expenses) c. GBP25.0 million
to SEREF shareholders by way of a compulsory partial redemption of shares at a price of GBP1.0369 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 GBP10,000.
Shareholder Information
The Compulsory Redemption will be affected pro rata to holdings on the share register as at the close of business on 21
March 2024 (the "Redemption Date"), being the record date for the Compulsory Redemption. C. 8.19 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 March 2024. Any certificates
currently in circulation will be superseded by a new certificate which will be distributed to certificated shareholders
by 28 March 2024.
The Company currently has 294,288,539 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,
GG00BP6VJD72, (the "Old ISIN") will expire. The new ISIN number, GG00BRC3R375, (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 22 March 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 are pleased to have recently received a partial repayment of c.EUR19.2m from the Company's investment in Three
Shopping Centres, Spain and a full repayment of c.EUR12.4m from the Company's investment in Shopping Centre, Spain that
have together substantially reduced the Company's exposure to Spanish retail assets.
"Accordingly, we are using this capital to fund a fifth distribution to shareholders of GBP25.0 million. We reiterate our
commitment to returning capital to shareholders in an orderly, expedient and efficient manner."
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.
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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.
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ISIN: GG00BP6VJD72
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.: 310402
EQS News ID: 1861377
End of Announcement EQS News Service
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(END) Dow Jones Newswires
March 19, 2024 03:00 ET (07:00 GMT)
