EGM Statement

RNS Number : 8737N

Hammerson PLC

25 February 2009

 

For immediate release, 25 February 2009

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR IN OR INTO ANY JURISDICTION WHERE SUCH ACTION WOULD BREACH ANY APPLICABLE LAW

Hammerson plc Result of General Meeting

Hammerson plc announces that, at the General Meeting held earlier today, the shareholders present resolved by way of poll that an ordinary resolution be passed to increase the Company's authorised share capital by the creation of 480,000,000 ordinary shares of 25 pence each forming a single class with the existing ordinary shares of 25 pence each in the Company and to grant the Directors authority to allot ordinary shares up to an aggregate nominal amount of £142,036,290.25.

157,125,194 shares were voted in favour of the resolution representing 99.12% of the votes cast.

	For	Against	Withheld
Resolution	157,125,194	1,392,419	538,322

Copies of the resolution passed at the General Meeting will also be available for inspection shortly at the UK Listing Authority's Document Viewing Facility, situated at The Financial Services Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS.

The passing of this resolution will enable the Company to proceed with the fully underwritten rights issue to raise net proceeds of £584.2 million announced on 9 February 2009. Accordingly, provisional allotment letters will be sent to shareholders on the register at a close of business on 20 February 2009.

John Nelson, Chairman of Hammerson, said:

'We are delighted with the level of support for the issue shown by our existing shareholders. The proceeds will be used to reduce net indebtedness and will substantially strengthen the Company's balance sheet. Our high quality portfolio is focused on prime retail and office assets in the UK and France and generates a robust and growing income stream.' 

The attention of shareholders is drawn to the timetable set out below, in particular the latest date for acceptance/payment of 20 March 2009 and not 23 March as incorrectly stated in the announcement made on 9 February 2009.

Dealings in the New Shares, nil paid, commence on the London Stock Exchange	26 February 2009
Latest time for depositing renounced Provisional Allotment Letters, nil paid or fully paid, into CREST or for dematerialising Nil Paid Rights or Fully Paid Rights into a CREST stock account	17 March 2009
Latest time and date for splitting Provisional Allotment Letters, nil paid or fully paid	18 March 2009
Latest time and date for acceptance, payment in full and registration of renunciation of Provisional Allotment Letters	20 March 2009
Dealings in the New Shares, fully paid, commence on the London Stock Exchange	23 March 2009
Annual General Meeting	30 April 2009
Final dividend payable	22 May 2009
Anticipated 2009 interim dividend	September 2009

END

Further information:

Further information on the rights issue is available on the Company's website www.hammerson.com.

Contact:

John Richards, Chief Executive		Tel: [phone]
Simon Melliss, Group Finance Director Agatha Donnelly, Investor Relations Executive		Tel: [phone]  [e-mail]

Disclaimer:

It is expected that admission of the Nil Paid Rights and the Fully Paid Rights to the Official List and to trading on the London Stock Exchange's market for listed securities will become effective and that dealings will commence in the Nil Paid Rights and the Fully Paid Rights by no later than 8.00 a.m. on 26 February 2009. Application will also be made for the New Shares to be admitted to trading on Euronext Paris. It is expected that admission of the Euroclear Subscription Rights to trading on Euronext Paris will commence at 9.00 a.m. (CET) on 26 February 2009.

It is expected that Provisional Allotment Advice Letters in respect of entitlements to New Shares pursuant to the Rights Issue will be posted later today to Qualifying CREST Shareholders (other than, subject to certain limited exceptions, those Qualifying Non-CREST Shareholders who have registered addresses in the United States, Canada, Australia, Japan, or South Africa) and that Nil Paid Rights will be credited to the CREST stock accounts of Qualifying CREST Shareholders (subject to the limited exceptions referred to above) and enabled in CREST at, or as soon as practicable after, 8.00 a.m. on 26 February 2009. It is expected that Provisional Allotment Letters in respect of entitlements to New Shares pursuant to the Rights Issue will be posted later today to Qualifying Non-CREST Shareholders (other than, subject to certain limited exceptions, those Qualifying Non-CREST Shareholders who have registered addresses in the United States, Canada, Australia, Japan, or South Africa). The latest time and date for acceptance and payment in full under the Rights Issue is 11.00 a.m. on 20 March 2009 in relation to Qualifying CREST and Qualifying Non-CREST Shareholders.

This announcement shall not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to acquire, any New Shares or entitlements to New Shares to any person in any jurisdiction to whom or in which such offer or solicitation is unlawful. The distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Any purchase of, or application for, securities in the Rights Issue should only be made on the basis of information contained in the Prospectus dated 9 February 2009.

This announcement is not a prospectus but an advertisement and investors should not subscribe for any Nil Paid Rights, Fully Paid Rights, Euroclear Subscription Rights or New Shares issued in connection with the Rights Issue except on the basis of the information contained in the Prospectus.

This announcement is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. The New Shares have not been, nor will they be, registered under the US Securities Act of 1933, as amended, or under the securities laws of any state in the United States or under the applicable securities laws of Canada, Australia, Japan, South Africa or any jurisdiction where to do so would breach any applicable law. Subject to certain exceptions, the New Shares may not be offered or sold in the United States, Canada, Australia, Japan, South Africa or any jurisdiction where to do so would breach any applicable law, or to or for the benefit of any national, resident or citizen of the United States, Canada, Australia, Japan, South Africa or any jurisdiction where to do so would breach any applicable law.

Neither the content of Hammerson plc's website nor any website accessible by hyperlinks on Hammerson plc's website is incorporated in, or forms part of, this announcement.

 

END

 

 

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