CPI Property Group and Aroundtown notified Globalworth of a series of transactions in respect of their existing holdings which have resulted in Zakiono, an entity indirectly owned by the consortium holding a total of 51.50% of the shares in the company. Zakiono now itself holds sufficient voting rights to exert statutory control over the company, including in due course the ability to appoint and remove directors from the board.
Globalworth’s Independent Committee is considering the implications of the change of control for the company and for minority shareholder rights and protections.
As set out in the response circular published by Globalworth on 26 May 2021 the change of control will have a number of impacts not limited to:
Sign up today for the latest news