American Realty Capital Global Trust, Inc. announced that it intends to file an application to list its common stock on the New York Stock Exchange (NYSE) under the symbol GNL.
Common stock is expected to begin trading on the NYSE during the second quarter of 2015.
Concurrent with the listing, the company intends to change its name to Global Net Lease, Inc.
The company’s Board of Directors, along with its financial advisors, Barclays and RCS Capital, noted that the decision is the result of a process begun in December 2014 by to evaluate possible strategic alternatives designed to maximize long-term stockholder value.
Scott Bowman, CEO of Global Trust, said, “The decision to seek a liquidity event by listing on the NYSE marks an exciting milestone for the company and its stockholders.
“Since its inception, the company has successfully acquired 295 properties aggregating approximately 16 million square feet across the U.S. and Europe consistent with its corporate sale-leaseback strategy. The company remains strategically positioned to continue its growth, and our U.S. and European management teams look forward to utilizing their expertise to capitalize on further property investments and seek to enhance long-term value for our stockholders.”
P. Sue Perrotty has been appointed to the Board of Directors as non-executive chair.
Perrotty replaces William M. Kahane, who is stepping down as executive chairman but who will remain a director of the Company.
“I am thrilled to welcome Sue to the Global Trust Board as Non-Executive Chair,” commented Bowman.
“Sue brings a wealth of industry knowledge as well as extensive senior leadership experience to our Board, and I am confident that she will be an invaluable addition to our team as we seek to continue to create long-term value for our stockholders through the execution of our strategy.
Perrotty added, “I am excited to join Global Trust’s Board. The strengths of our investment team coupled with the significant opportunities in this sector… present an excellent opportunity to invest for yield and absolute return.”
