GLOBE TRADE CENTER SA – 2022: Strategic expansion and new transaction in the new sector activities of GTC – SENS
2022: Strategic expansion and a new transaction in GTC’s new sector activities
GLOBE TRADE CENTRE S.A.
(Incorporated and registered in Poland with KRS No. 61500)
(Share code on the WSE: GTC.S.A)
(Share code on the JSE: GTC ISIN: PLGTC0000037)
(“GTC” or “the Company”)
Current report number: 36/2022
2022: strategic expansion and a new transaction in GTC’s new sector activities
The Management Board of Globe Trade Centre S.A. (the “Company”) hereby announces that it decided
on a re-orientation to the previously announced and followed strategy of the Company, which re-
orientation includes specific changes to this strategy, and that, in addition, it has entered into its first
transaction after the introduction of such strategic expansion.
Details of the strategic expansion
The management board of the Company decided to pursue potential new investments in certain new
sectors which may diverge from the current core scope of the Company’s operations (namely, the
development and management of office, retail and certain other types of real estate). The management
board assumes that the new investments should:
– help GTC diversify its portfolio in new and fast-growing sectors which may be either based on
direct real estate investments or operating in related investment platforms
– achieve expected returns from such investments at least the same or higher than the returns on
currently held assets in the portfolio;
– involve sectors with more sustainable growth compared to traditional real estate;
– be made in segments of the market which should be resilient to present turbulent market
As part of the new strategy, GTC will be open to establishing platforms which will enable third-party
investors to participate, and which will allow GTC to benefit from higher leverage and returns than
existing in its present business model. This should allow GTC to increase the scale of its operations and
for third party investors to benefit from the experience and strength of GTC’s investment platform.
Potential new sectors identified by the Company’s management to be considered for investment as part
of the new strategy include:
1. investment in innovation and technology parks;
2. investment in renewable energy facilities; and
3. investment in development of PRS assets (private rented sector property – residential).
Details of the new transaction in the innovation and technology parks sector
As part of the newly re-oriented strategy, on 9 August 2022 the Company entered into an agreement
concerning a transaction (the “Transaction”) involving a joint venture investment into an innovation park
in Kildare, Ireland (the “Transaction”).
The Transaction involves an investment of approximately EUR 115 million into the project described
below. The project involves other international professional investors acting through a Luxemburg
partnership advised by Icona Capital, an entity from the same group as GTC’s minority partner.
Ireland is one of Europe’s largest technology and life science hubs with technology, science and
innovation companies such as Pfizer, J&J, Gilead, Abbot, Intel, Apple, Google, Tik Tok and Facebook
having major presence in Ireland.
The property covered by the Transaction is Kildare Innovation Campus, located outside of Dublin.. The
Kildare Innovation Campus extends over 72 ha (of which 34 ha is undeveloped). There are nine
buildings that form the campus (around 101,685 sqm): six are lettable buildings with designated uses
including industrial, warehouse, manufacturing and office/lab space. In addition, there are three amenity
buildings, comprising a gym, a plant area, a campus canteen, and an energy centre.
The campus currently generates around EUR 6.26 million gross rental income per annum.
A masterplan has been prepared whereby the site and the campus are planned to be converted into a
Life Science and Technology campus with a total of approximately 135,000 sqm.
Under the Transaction documentation, GTC will acquire a minority stake of 25% through notes (debt
instruments) issued by a Luxembourg securitisation vehicle. GTC’s investment is protected by
customary investor protection mechanisms.
GTC’s initial investment will be financed from equity. No external financing is envisioned at this stage in
connection with the Transaction. Nevertheless, GTC does not exclude leveraging its investment in the
future to maximise the return on equity.
Legal basis: Art. 17(1) of Regulation of the European Parliament and Council (EU) No. 596/2014 on
market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European
Parliament and Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC
10 August 2022
Sponsor: Investec Bank Limited
/s/ Zoltan Fekete /s/ Ariel Alejandro Ferstman
Member of the Management Board Member of the Management Board
Date: 10-08-2022 09:55:00
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