Intention to list on the JSE

RNS Number : 6009H

Hammerson PLC

19 August 2016

 

Hammerson plc

19 August 2016

Intention to list on the Johannesburg Stock Exchange

Further to the announcement on 25 July 2016 that Hammerson plc ("Hammerson" or the "Company") is pursuing a secondary inward listing of all of its issued ordinary shares on the Johannesburg Stock Exchange ("JSE") (the "Secondary Listing"), the Company is pleased to report that developments towards achieving the Secondary Listing are at an advanced stage. 

The Financial Surveillance Department of the South African Reserve Bank has approved the Secondary Listing and classified the Secondary Listing as "domestic" for exchange control purposes.

The Secondary Listing, which is expected to take place on Thursday, 1 September 2016, is subject to receipt of formal approval from the JSE. It is anticipated that a full pre-listing announcement will be released on the Stock Exchange News Service of the JSE on or about Thursday, 25 August 2016.

Hammerson is pursuing the Secondary Listing in order to improve the depth and spread of the shareholder base of the Company, thereby improving liquidity and tradability of its shares and ensuring the Company is accessing a wider pool of international capital. The Secondary Listing will provide South African investors, both institutional and private, with an opportunity to participate in the future income and capital performance of the Company. 

In connection with this transaction, Deutsche Securities (SA) Proprietary Limited is acting as joint corporate advisor, sole corporate broker and joint sponsor, Java Capital Proprietary Limited is acting as joint corporate advisor and joint sponsor and Werksmans Attorneys is acting as South African legal advisors.

Notes to Editors

About Hammerson

Hammerson is a FTSE 100 owner, manager and developer of retail destinations in Europe.  At 30 June 2016, our portfolio of high-quality retail property had a value of £9 billion and included 21 prime shopping centres, 19 convenient retail parks and investments in 15 premium outlet villages, through our partnership with Value Retail and the VIA Outlets joint venture.  Key investments include Bullring, Birmingham; Bicester Village, Oxford; Dundrum Town Centre, Dublin and Les Terrasses du Port, Marseille. 

For further information:

FTI Consulting (South Africa)              

Max Gebhardt                                        Tel: [phone]

Trevor Jones                                          Tel: [phone]

Hammerson

Rebecca Patton                                     Tel: [phone]

Nina Cadman                                         Tel: [phone]

 

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