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Update on disposal of retail parks portfolio
Hammerson plc
(Incorporated in England and Wales)
(Company number 360632)
LSE share code: HMSO JSE share code: HMN
ISIN: GB0004065016
(“Hammerson” or “the Company”)
6 May 2020
This announcement contains inside information
Update on disposal of retail parks portfolio
On 23 April 2020, Hammerson plc (“Hammerson”) announced that Orion European
Real Estate Fund V (“Orion”) had notified the company that it did not intend to
complete on the sale of a portfolio of seven retail parks (the “Transaction”), despite
exchanging unconditional contracts on 20 February 2020.
In accordance with the terms of the SPA, Hammerson served notice to complete on
Orion specifying that completion must occur by no later than 6 May 2020. Following
close of business on 5 May 2020, Orion notified Hammerson that it had resolved not to
complete on the 6 May 2020. Hammerson will now terminate the SPA and access the
£21 million deposit which has been held in escrow by its solicitors.
Hammerson has its primary listing on the London Stock Exchange and a secondary
inward listing on the Johannesburg Stock Exchange.
Sponsor:
Investec Bank Limited
Investor Contact
Josh Warren, Head of Investor Relations
Tel: +44 20 7887 1053
josh.warren@hammerson.com
Press Contacts
Hammerson
Catrin Sharp, Head of Corporate Communications
Tel: +44 20 7887 1063
catrin.sharp@hammerson.com
Bryn Woodward, Media Relations Manager
Tel: +44 20 7887 1983
bryn.woodward@hammerson.com
FTI Consulting (for Hammerson)
Dido Laurimore
Tel: +44 20 3727 1000
Dido.Laurimore@FTIConsulting.com
Date: 06-05-2020 08:00:00
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