Orange Capital Agrees that the Proposed
Internalization Consideration is Within the Range of Precedent
Transactions
NEW
YORK, Sept. 6, 2023 /PRNewswire/ -- Orange
Capital Ventures, LP ("Orange Capital") announced today its
intention to vote in favor of the proposed internalization and
merger transaction after reaching out to management, performing a
thorough review of Global Net Lease, Inc's (NYSE: GNL) ("GNL" or
"Company") presentation filed on August 28,
2023, and its related joint proxy materials, participating
in the investor call hosted on September 5,
2023 and entering into a confidential agreement with the
Company's advisor (the "Advisor") and the Company following
discussions with its management. Pursuant to the agreement, the
Advisor, at no expense to the Company, will reimburse Orange
Capital for its time and expenses depending on the outcome of the
vote. Orange Capital agrees that the proposed internalization
consideration is within the range of precedent transactions as
determined by BMO given the size and scope of the proposed
transaction and compared to comparable market transactions.
Under the agreement, Orange Capital has entered into a customary
standstill agreement and will vote in favor of the Company's
directors at the 2024 annual meeting.
Voting FOR this transaction is the best path forward for us. We
hope the transaction unlocks long-term shareholder value through
reduced leverage, increased earnings and improved corporate
governance.
For these reasons, we will vote FOR the transaction.
Forward-Looking Statements
This release contains a number of forward-looking statements.
Words such as "plan," "believe," "anticipate," "reflect," "invest,"
"see," "make," "expect," "deliver," "drive," "improve," "intend,"
"assess," "remain," "evaluate," "establish," "focus," "build,"
"turn," "expand," "leverage," "grow," "will," and variations of
such words and similar future or conditional expressions are
intended to identify forward-looking statements. Examples of
forward-looking statements include, but are not limited to,
statements regarding Orange Capital's, GNL's, RTL's or AR Global's
plans, impacts of accounting standards and guidance, growth, legal
matters, taxes, costs and cost savings, impairments, dividends,
expectations, investments, innovations, opportunities,
capabilities, execution, initiatives, and pipeline. These
forward-looking statements reflect management's current
expectations and are not guarantees of future performance and are
subject to a number of risks and uncertainties, many of which are
difficult to predict and beyond the Issuer's control. Orange
Capital disclaims and does not undertake any obligation to update,
revise, or withdraw any forward-looking statement in this press
release, except as required by applicable law or regulation.
Media Contacts
ASC Advisors
Taylor Ingraham / Steve Bruce
tingraham@ascadvisors.com / sbruce@ascadvisors.com
203-992-1230
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SOURCE Orange Capital Ventures, LP