Intention to seek admission to Euronext Dublin
THIS ANNOUNCEMENT (AND THE INFORMATION CONTAINED HEREIN) IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR WITHIN THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
This announcement is not an offer of securities for sale in any jurisdiction. This announcement is not a prospectus (or prospectus equivalent document) or an advertisement. Investors should not subscribe for or purchase any shares in the Company based on this announcement or the Summary Document (as defined below). Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. The material set forth herein is for information purposes only and should not be construed as an offer of securities for sale in any jurisdiction.
FOR IMMEDIATE RELEASE
18 December 2020
Hammerson plc
ISIN: GB00BK7YQK64
LSE share code: HMSO / JSE share code: HMN
Intention to seek admission to Euronext Dublin and to trade on the main securities market of Euronext Dublin and publication of Summary Document
Hammerson plc ("Hammerson" or the "Company") announces its intention to seek admission of its entire issued ordinary share capital (the "Ordinary Shares") to the secondary listing segment of the Official List of the Irish Stock Exchange plc, trading as Euronext Dublin ("Euronext Dublin") and to trading on the main market for listed securities of Euronext Dublin ("Main Market") (together "Admission").
The Company is seeking a secondary listing given the importance and scale of its investor base and operations in continental Europe and the Republic of Ireland. The Company owns and manages flagship destinations valued as at 30 June 2020 at £1.2bn in France and £0.8bn in Ireland in addition to significant City Quarters development opportunities in Dublin. Alongside its directly managed portfolio, Hammerson also has exposure to Value Retail destinations outside of the UK including La Valleé in Paris and La Roca in Barcelona. Furthermore, as at 23 November 2020, around 27% of Hammerson's share capital held by institutional investors is held by investors based in the European Economic Area (excluding the UK). A secondary listing on Euronext Dublin will enable the Company to maintain an efficient holding structure across its portfolio and guarantee an EU equivalent trading venue for Hammerson's shares.
The Company announces that it has published a summary document (the "Summary Document") in connection with the Admission. The Summary Document is not a prospectus and has not been approved by the Central Bank of Ireland or any other regulatory authority.
It is expected that Admission will become effective and that unconditional dealings in the Ordinary Shares on the Main Market will commence at 8.00 a.m. on 23 December 2020. The Ordinary Shares are, and will remain, admitted to the premium segment of the Official List maintained by the Financial Conduct Authority (the "UK Official List") and to trading on the main market for listed securities operated by the London Stock Exchange plc (the "London Stock Exchange"). The Ordinary Shares are also the subject of a secondary inward listing on the Johannesburg Stock Exchange and will remain listed on the Johannesburg Stock Exchange following Admission .
The Company is not raising any new funds or issuing any new shares in connection with Admission. No shares will be offered or marketed to the public in Ireland, the UK or elsewhere in connection with Admission. The Company's ticker on Euronext Dublin will be 'HMSO' and the Company's ticker on the London Stock Exchange will remain as 'HMSO', both with an ISIN of GB00BK7YQK64. On Admission, there will be 4,057,298,174 Ordinary Shares in issue.
A copy of the Summary Document relating to the Admission will be made available in electronic form on the Company's website www.hammerson.com/investors.
The announcement above has also been released on the SENS system of the Johannesburg Stock Exchange.
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Hammerson plc
Investor Contact Josh Warren, Hammerson, Head of Investor Relations Tel: +44 20 7887 1053 josh.warren@hammerson.com
Media Contact Catrin Sharp, Head of Corporate Communications Tel: +44 20 7887 1063 catrin.sharp@hammerson.com
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Goodbody Finbarr Griffin Stephen Kane Alan Sutton
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+353 1 667 0420 |
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FTI Consulting Dido Laurimore John Waples Richard Gotla Hammerson@fticonsulting.com
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+44 (0)20 3727 1000 +44 (0) 7801 654 424 +44 (0) 7717 814 520 +44 (0) 7904 122 207 |
Notes to Editors
About the Company
Hammerson is an owner, manager and developer of retail properties in Europe with a portfolio of high-quality flagship destinations and premium outlets, providing approximately 1.8 million square metres of lettable area across 7 countries. The Group's property portfolio comprises 20 flagship destinations in the United Kingdom, France and Ireland, investments in 9 premium outlets across Europe through its holding in Value Retail and investments in eight retail parks in the United Kingdom. Prior to the Group's disposal of the majority of its interest in VIA Outlets, flagship destinations, premium outlets and retail parks accounted for approximately 51%, 35% and 6%, respectively, of the Group's total property portfolio by value as at 30 June 2020 (on a proportionally consolidated basis, including premium outlets).
General
Goodbody Stockbrokers UC, trading as Goodbody, ("Goodbody") is acting as sponsor, under Euronext Dublin Listing Rules, to the Company in connection with Admission. Goodbody is regulated by the Central Bank of Ireland. In the UK, Goodbody is authorised and subject to regulation by the Financial Conduct Authority. Goodbody is acting exclusively for the Company and for no-one else in connection with Admission and will not be responsible to any person other than the Company for providing the protections afforded to its clients or for providing advice to any other person in relation to Admission or any other matter referred to in this announcement.
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