Sale of Rights Issue Rump

RNS Number : 4125P

Hammerson PLC

25 March 2009

 



For immediate release, Wednesday 25 March 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 - SALE OF RIGHTS ISSUE RUMP

Following the announcement on 23 March that Hammerson plc ('Hammerson' or 'the Company')  had received valid acceptances in respect of 399,981,480 New Shares, representing approximately  98.6% of the total number of New Shares offered to Qualifying Shareholders pursuant to the 7 for 5 Rights Issue announced on 9 February 2009 (the 'Rights Issue'), Hammerson now announces that, in accordance with their underwriting obligations in respect of the Rights Issue, the Underwriters have procured subscribers for the remaining 5,815,294 New Shares, for which valid acceptances were not received, at an average price of 267.89 pence per share.

The net proceeds from the sale of these New Shares after deduction of the Rights Issue price of 150 pence per New Share and relevant costs (including any commissions and taxes), will be paid (without interest) to Shareholders who have not taken up their entitlements, pro rata to their lapsed provisional allotments, except that amounts of less than £5.00 per holding will not be paid to such persons but will be aggregated and retained for the benefit of Hammerson. 

Definitions used in the Prospectus shall have the same meanings when used in this announcement unless the context otherwise requires.

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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 Chris Smith, Director of Corporate Affairs	Tel: [phone]  Tel: [phone] [e-mail]

  Disclaimer:

This announcement is not a prospectus but an advertisement and investors should not subscribe for any New Shares issued in connection with the Rights Issue except on the basis of the information contained in the Prospectus. Copies of the Prospectus are available from the Company's registered office at 10 Grosvenor Street, London W1K 4BJ.

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. Neither this announcement nor any part of it may be printed, downloaded, distributed, or transmitted into the United States, except to qualified institutional buyers within the meaning of Rule 144A under the US Securities Act of 1933, as amended (the 'Securities Act'). Any failure to comply with these restrictions may constitute a violation of the securities laws of the United States or another jurisdiction. 

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 Securities Act, 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.

Lazard, Citigroup Global Markets Limited, Citigroup Global Markets U.K. Equity Limited (in each case and together, 'Citi') and Deutsche Bank AG London Branch are each acting exclusively for Hammerson and for no one else in connection with the matters described in this announcement and will not regard any other person as a client in connection with the Rights Issue and will not be responsible to anyone other than the Company for providing the protections afforded to clients of the Company's financial adviser nor for providing advice in relation to the Rights Issue. Lazard and Citi are authorised and regulated in the United Kingdom by the FSA. Deutsche Bank AG, London Branch is authorised under German Banking Law (Competent authority: Bafin - Federal Financial Supervisory Authority) and authorised and subject to limited regulation by the Financial Services Authority.

 

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