Response to press speculation

RNS Number : 3885G

Capital & Counties Properties Plc

05 November 2018

 

PRESS RELEASE

05 November 2018

LEI: 549300TTXXZ1SHUI0D54

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

FOR IMMEDIATE RELEASE

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

CAPITAL & COUNTIES PROPERTIES PLC ("Capco")

Response to press speculation

Capital & Counties Properties PLC ("Capco" or "the Company") notes recent press speculation and confirms that it continues to advance preparations for a possible demerger.

In the interim, the Company has received a number of proposals in relation to Capco's interests in Earls Court which it is considering. This includes discussions with CK Asset Holdings Limited regarding a conditional proposal for the sale of substantially all of Capco's interests in Earls Court Properties (excluding the Lillie Square joint venture). The Board will evaluate the terms of any proposal against the merits of a demerger and other options.

At this stage there is no certainty that a transaction will proceed and any transaction would be expected to be subject to closing conditions. Further announcements will be made in due course as appropriate.

-ENDS-

Enquiries

Capital & Counties Properties PLC:

Ian Hawksworth	Chief Executive	[phone]
Situl Jobanputra	Chief Financial Officer	[phone]
Sarah Corbett	Head of Investor Relations	[phone]

Media enquiries:

Sarah Hagan	Group Director of Communications	[phone]
UK: Tulchan	Susanna Voyle	[phone]
SA: Instinctif	Frederic Cornet	[phone]

Person responsible:

The person responsible for arranging the release of this announcement is Ruth Pavey, Company Secretary.

Notes to Editors

About Capital & Counties Properties PLC (Capco):

Capital & Counties Properties PLC is one of the largest investment and development property companies that specialises in central London real estate and is a constituent of the FTSE-250 Index. Capco's landmark London estates at Covent Garden and Earls Court were valued at £3.3 billion as at 30 June 2018 (Group share). The company is listed on the London Stock Exchange and the Johannesburg Stock Exchange.

www.capitalandcounties.com

 

END

 

 

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