6th Mar 2008 18:09
Hammerson PLC06 March 2008 Ravenhead Retail Park Hammerson plc has issued 115,266 New Ordinary Shares of 25p each (with anaggregate value of approximately £1.3 million based on a share price of 1107pence) to companies connected with Mr CJ Baybutt and Mr DJ Baybutt to acquireadditional freehold land adjacent to Ravenhead Retail Park, St Helens. This hasoutline planning consent for a hotel and restaurants. This in accordance with an option arrangement provided in the sale and purchaseagreement entered into on 8 March 2007, under which Hammerson acquired RavenheadRetail Park for £120.6 million excluding the deferred option consideration. The scheme comprises 27,500m(2) of retail accommodation with part bulky goodsand part open A1 planning consent for an 8,100 m(2) extension. Application has been made to the Financial Services Authority and the LondonStock Exchange for the New Ordinary Shares to be admitted to the Official List.It is expected that admission will be granted and trading commence on 7 March2008. The New Ordinary Shares will rank pari passu with the existing issuedordinary shares and an application is also being made for these shares to beadmitted to trading by Euronext Paris. Enquiries: John Richards, Chief Executive Tel: 020 7887 1000Christopher Smith, Director of Corporate Affairs Tel: 020 7887 1019 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Hammerson