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CSO - Capital Shopping Centres Group Plc - Proposed Transactions with the Peel Group and publication of Notice of General Meeting CAPITAL SHOPPING CENTRES GROUP PLC (Registration number UK3685527) ISIN Code: GB0006834344 JSE Code: CSO Issuer Code: CSCSCG CAPITAL SHOPPING CENTRES GROUP PLC Proposed Transactions with the Peel Group and publication of Notice of General Meeting Capital Shopping Centres Group PLC (the "Company" or "CSC") announces that it has agreed terms on two proposed transactions (the "Transactions") with the Peel Group: * Acquisition for GBP4.7 million from Clydeport Properties Limited of a 30.96 acre site known as King George V Docks (West) adjacent to CSC`s shopping centre at Braehead, Glasgow, which offers significant opportunities for future development in relation to the shopping centre and leisure activities at Braehead ("the KGV Acquisition"); and * Acquisition for Euro2.5 million from Peel Holdings Limited of a three year option ("the Option") alongside a refundable deposit of Euro7.5 million to purchase two parcels of land in the province of Malaga, Spain; an approximately 60 acre site which has initial planning consents for the construction of a high-class regional shopping centre and leisure development, and an adjacent approximately 14 acre site which is earmarked for possible future development. The Option gives CSC continuing access to a considerable opportunity to secure a prominent site at a relatively low cost and with minimal risk. CSC will have a three year period to assess the opportunity and monitor market conditions. In the event that CSC decides to exercise the Option, further consideration will become payable as described in a circular to shareholders (the "Circular") to be published today. Should CSC wish to exercise the Option, CSC would expect, subject to applicable law and regulation in force at the time, to be required to seek further approval from shareholders at that time. The Option is pursuant to a provision in the original documentation relating to the acquisition of The Trafford Centre. As John Whittaker, Deputy Chairman and Non-Executive Director of CSC, is connected with the Peel Group, the Transactions are conditional upon the approval of shareholders. Accompanying the Circular is a notice of general meeting to be held on Friday 17 February 2012 at 11 a.m. (the "General Meeting"). The Board recommends that shareholders vote in favour of the Transactions. This announcement and the Circular will be available later today for download, free of charge, on CSC`s website http://capital-shopping- centres.co.uk/investors/shareholder_info. The Circular, and a Form of Proxy for use at the General Meeting, will shortly be posted or otherwise communicated to shareholders. To be valid, the Forms of Proxy should be completed, signed and returned following the procedures described in Note 1 of the Notice of General Meeting so as to be received by the Company`s registrars as soon as possible but, in any event, so as to arrive no later than 11am on 15 February 2012. Completion and return of a Form of Proxy will not prevent members from attending and voting in person should they wish to do so. A copy of the Circular will shortly be submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do. A copy of the Circular will also be available for inspection by shareholders at the Company`s registered office, 40 Broadway, London SW1H 0BT, from the time of its publication until the date of the General Meeting and at the General Meeting itself. 25 January 2012 ENQUIRIES: Capital Shopping Centres Group PLC: David Fischel Chief Executive +44 (0)20 7960 1207 Matthew Roberts Finance Director +44 (0)20 7960 1353 Kate Bowyer Investor Relations Manager +44 (0)20 7960 1250 Public relations: UK: Michael Sandler, Hudson Sandler +44 (0)20 7796 4133 Wendy Baker, Hudson Sandler +44 (0)20 7710 8917 SA: Nicholas Williams, College Hill +27 (0)11 447 3030 Sponsor: Merrill Lynch SA (Pty) Limited Date: 25/01/2012 09:15:00 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
