HAMMERSON PLC - Disposal of Italie Deux and Italik

Disposal of Italie Deux and Italik

Hammerson plc ("Hammerson" or the "Company")
(Incorporated in England and Wales)
(Company number 360632)
LSE and Euronext Dublin share code: HMSO JSE share code: HMN
ISIN: GB00BK7YQK64


3 April 2023

Disposal of Italie Deux and Italik

Hammerson announces that it has completed the disposal of its 25% stake in Italie Deux, a 62,000m2
shopping centre in central Paris, and 100% of the 6,500m2 Italik extension for cash consideration of
€164m to Ingka Centres via a simultaneous exchange and completion. This represents a 4% discount to
31 December 2022 book value and a net equivalent yield of 5.0%(1).

The exit marks the continued progress in the simplification of the Company’s portfolio. The proceeds will
further strengthen the balance sheet and reduce net debt.

Together with the £195m of disposals completed in 2022, the Group has generated total proceeds of
c.£360m against the Company’s commitment of £500m of disposals by the end of 2023.

On a pro forma basis and including other disposals, headline LTV improves to 36%(2), FPC LTV to 45%(2),
and net debt/EBITDA to 9.4x(2).

Hammerson has its primary listing on the London Stock Exchange and secondary inward listings on
the Johannesburg Stock Exchange and Euronext Dublin.

Sponsor:

Investec Bank Limited

Footnotes:
    1.   Assets combined with passing rent of €7.5m at Hammerson’s share.
    2.   December 2022 LTV 39%, FPC LTV 45%, net debt/EBITDA 10.4x.



Enquiries

Hammerson Investor Contact

Josh Warren, Hammerson, Director of Strategy, Investor Relations and Commercial Finance

T: +44 20 7887 1053 E: josh.warren@hammerson.com

Hammerson Media Contacts

Natalie Gunson, Group Communications Director
T: +44 20 7887 4672 E: natalie.gunson@hammerson.com

MHP (for Hammerson)

Oliver Hughes

T: +44 7885 224532 E: Hammerson@mhpgroup.com

Ollie Hoare

T: +44 7817 458804 E: Hammerson@mhpgroup.com

Date: 03-04-2023 08:00:00
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