Statement re Klépierre S.A. withdrawal

RNS Number : 8705K

Hammerson PLC

13 April 2018

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

 13 April 2018

Hammerson plc ("Hammerson" or the "Company")

Statement re Klépierre S.A. ("Klépierre") withdrawal

The Board of Hammerson notes the announcement made by Klépierre that it does not intend to make an offer for Hammerson and that it is consequently bound by the restrictions under Rule 2.8 of the City Code on Takeovers and Mergers (the "Code").

The Board of Hammerson welcomes the clarification provided by the announcement. The Board continues to believe that Klépierre's proposal, which the Board carefully considered following a meeting between David Tyler and Jean-Marc Jestin, very significantly undervalued Hammerson.

Following the announcement of the Company's 2017 results, the approach by Klépierre, and the Q1 2018 Business Update, Hammerson has engaged intensively with its shareholders and will continue to do so.  

David Tyler, Chairman of Hammerson said:

"The Board is confident in the intrinsic value of Hammerson and its prospects. It is entirely focused on delivering value for shareholders in the shorter and longer term."

Enquiries

Hammerson	[phone]
David Tyler, Chairman David Atkins, Chief Executive Officer Timon Drakesmith, Chief Financial Officer and Managing Director, Premium Outlets Rebecca Patton, Head of Investor Relations Catrin Sharp, Head of Corporate Communications
FTI Consulting (PR adviser to Hammerson)	[phone]
John Waples Dido Laurimore Tom Gough	[phone] [phone] [phone]

Overseas jurisdictions

The release, publication or distribution of this Announcement in jurisdictions other than the United Kingdom and South Africa may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom and South Africa should inform themselves about, and observe, any applicable requirements. The information disclosed in this Announcement may not be the same as that which would have been disclosed if this Announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom.

Forward-looking statements

This Announcement contains certain forward-looking statements, beliefs or opinions, with respect to the financial condition, results of operations and business of Hammerson. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as "anticipate", "target", "expect", "estimate", "intend", "plan", "goal", "believe", "hope", "aims", "continue", "will", "may", "should", "would", "could", or other words of similar meaning. These statements are based on assumptions and assessments made by Hammerson, in light of their experience and their perception of historical trends, current conditions, future developments and other factors they believe appropriate. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward-looking statements in this document could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct and you are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this Announcement. Hammerson does not assume any obligation to update or correct the information contained in this section of the website (whether as a result of new information, future events or otherwise), except as required by applicable law.

There are several factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in global, political, economic, business, competitive, market and regulatory forces, future exchange and interest rates, changes in tax rates and future business combinations or dispositions.

Publication of this Announcement

In accordance with Rule 26.1 of the Code, a copy of this Announcement will be available on Hammerson's website at www.hammerson.com/investors by no later than 12 noon (London time) on the business day following this Announcement).

 

END

 

 

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