28th Feb 2007 07:02
Hansteen Holdings plc28 February 2007 Embargoed for release until 0700 on 28 February 2007 Hansteen Holdings PLC ("Hansteen" or the "Company") Placing Hansteen is pleased to announce a conditional placing by KBC Peel Hunt of53,435,115 new Ordinary Shares at a price of 131 pence per new Ordinary Sharewith institutional investors to raise approximately £70.0 million (approximately£68.5 million after expenses). The Placing has been underwritten by KBC PeelHunt. Key points Conditional placing to raise £70.0 million at a price of 131 pence per share,£68.5 million net of expenses; The net Placing proceeds will be used to accelerate the assembly of propertyportfolios, particularly in Continental Europe; Admission to trading on AIM of the Placing Shares is expected to take place on26 March 2007. James Hambro, Chairman, commented:"We are delighted to have completed this successful raising of funds which willallow us to accelerate the growth of the Company" For further information, please contact: Hansteen Holdings PLC Tel: +44 (0) 20 7016 8820Ian WatsonMorgan Jones KBC Peel Hunt Tel: +44 (0) 20 7418 8900David DaviesGordon Suggett Tavistock Communications Tel: +44 (0) 20 7920 3150Jeremy CareyRichard Sunderland Forward looking statementsThis announcement may contain forward-looking statements, including, withoutlimitation, statements containing the words "believes", "anticipates","expects", and similar expressions. Such forward-looking statements involveunknown risks, uncertainties and other factors which may cause the actualresults, financial condition, performance or achievements of the Company, orindustry results, to be materially different from any future results,performance or achievements expressed or implied by such forward-lookingstatements. Given these uncertainties, prospective investors are cautioned notto place any undue reliance on such forward-looking statements. The Companydisclaims any obligation to update any such forward-looking statements in thisannouncement to reflect future events or developments. The new Ordinary Shares referred to in this announcement have not been and willnot be registered under the US Securities Act and may not be offered or sold inthe United States except pursuant to an exception from, or a transaction notsubject to, the requirements of the US Securities Act. There will be no publicoffer of the new Ordinary Shares in the United Kingdom, United States of Americaor elsewhere. 1. IntroductionThe Company has today announced a conditional Placing of 53,435,115 new OrdinaryShares at 131p per Ordinary Share, to raise approximately £70.0 million beforeexpenses. The issue of the Placing Shares will represent an increase of 42.75per cent. in the issued ordinary share capital of the Company. The Placing is conditional on, inter alia, the approval of Shareholders who willtoday be sent a circular setting out details of the Placing and notice of anExtraordinary General Meeting, which has been convened for 10.00 a.m. on 23March 2007. 2. Background to and reasons for the PlacingHansteen initially raised £123.6 million (net of expenses) at the time of itsinitial public offering and admission to AIM on 29 November 2005. In the AIMadmission document the Company stated that their strategy was to provideinvestors with consistent, high and realised returns. It was envisaged that thiswould be achieved through acquisition of properties over time to create a highyielding property portfolio in Continental Europe combined with other moreopportunistic and management intensive acquisitions which, while lower yielding,would provide greater capital growth potential. During the intervening period approximately £150 million of properties have beenacquired at average yields of over 8%. There is also a pipeline of additionalproperties in negotiation which will, if successfully completed, expand theportfolio. In the Directors' view the business plan is very much on schedule. The Directors believe that there is now increasing investor interest inContinental European property which is driving property values upwards and inparticular that significant premium prices are attaching to larger portfoliosmore suitable for the larger investors. Hansteen now wishes to raise additionalequity through the Placing to accelerate the assembly of portfolios commandingsuch premium valuations. In addition, the Directors see opportunities in certain locations to widen thescope of their acquisitions to include prime logistic investments, vacantproperties and distressed properties as well as larger scale sale and leasebacksand opportunistic purchases. The Board may also consider purchases in the UK inthe future should there be opportunities which they believe are capable ofgenerating value. 3. Principal Terms of the PlacingKBC Peel Hunt has agreed to use its reasonable endeavours to procure placees tosubscribe for 53,435,115 Placing Shares at the Placing Price and, to the extentit does not so procure subscribers, to subscribe itself for the relevant PlacingShares. Accordingly, the Placing is being fully underwritten by KBC Peel Hunt onthe terms and subject to the conditions set out in the Placing Agreement. ThePlacing is conditional, inter alia, upon the passing of the Resolution andAdmission. The Placing Shares, when issued, will rank pari passu, with the ExistingOrdinary Shares, including the right to receive all dividends and otherdistributions, save in respect for any dividend which may be announced aroundthe time of the announcement of the preliminary statement of the results for theCompany for the period from incorporation to 31 December 2006. These results areexpected to be notified to the market on 19 March 2007. Accordingly if adividend is announced the Placing Shares will trade as a separate line of sharesunder the ISIN: GB00B1SZ5310 and the ticker code HSTH.L until the ExistingOrdinary Shares are marked ex-dividend. Admission is expected to take place and dealings in the Placing Shares areexpected to commence on the London Stock Exchange on 26 March 2007. 4. Dis-application of pre-emption rightsThe Directors have considered the most appropriate method to conduct thefundraising. This included consideration of a placing and open offer or rightsissue. However, after careful consideration the Directors concluded that thebenefit of minimising the costs of the fundraising by way of a cash placingwithout the need to issue a prospectus and incurring the attendant costs wouldbe in Shareholders' best interests. The Company does not currently have in place sufficient existing authorities toenable the allotment of equity securities for cash on a non pre-emptive basissufficient for the purposes of the Placing. Accordingly, the Board is seekingShareholders' approval (pursuant to the Resolution) to dis-apply pre-emptionrights at the EGM to facilitate the Placing. The Placing Price is at a discountof 4.0% below the closing middle market price of 136.5 pence per Ordinary Shareon 27 February 2007, being the last dealing day prior to the publication of theCircular and the release of this announcement. The Placing Shares will representapproximately 29.95 per cent. of the enlarged issued ordinary share capital ofthe Company immediately following Admission. As the Company is in a close period none of the directors will be subscribingfor Placing Shares in the Placing. 5. Extraordinary General MeetingA circular to be sent to Shareholders today contains a notice of theExtraordinary General Meeting to be held at 1 Berkeley Street, London, W1J 8DJat 10:00 a.m. on 23 March 2007 at which a special resolution will be proposed asfollows: to grant the Directors (in substitution for all existing unexercised allotmentauthorities) a general authority pursuant to Section 80 of the Act to allot upto 74,999,998 Ordinary Shares (being the total authorised but unissued sharecapital of the Company). to dis-apply statutory pre-emption rights in respect of the Placing Shares. 6. Expected timetable for Admission Circular posted to Shareholders 28 February 2007 Latest time and date for receipt of Proxy Forms 10:00 a.m. on 21 March 2007 Extraordinary General Meeting 10:00 a.m. on 23 March 2007 Admission of the Placing Shares to trading on AIM 26 March 2007 CREST member accounts expected to be credited for the PlacingShares in uncertificated form 26 March 2007 Despatch of definitive share certificates for the issued Placing Shares in certificated form by 2 April 2007 7. Placing Statistics Number of Placing Shares 53,435,115 Enlarged issued share capital of the Company following Admission 178,435,117 Percentage of enlarged issued share capital represented by the Placing Shares 29.95% Placing Price per Placing Share 131p Market capitalisation at the Placing Price following completionof the Placing £233,750,000 Gross proceeds of the Placing £70,000,000 Net proceeds of the Placing £68,500,000 Appendix 1 TERMS AND CONDITIONS OF THE PLACINGFOR INVITED PLACEES ONLY - IMPORTANT INFORMATION 1. Eligible ParticipantsThis Appendix, including the terms and conditions of the Placing set out below,is directed only at persons who are FSMA Qualified Investors. In this Appendix "you" or "Placee" means any person who is or becomes committedto subscribe for Placing Shares under the Placing. Members of the public are not eligible to take part in the Placing. 2. Overseas jurisdictionsThe distribution of this announcement and the Placing and/or issue of ordinaryshares in certain other jurisdictions may be restricted by law. No action hasbeen taken by the Company or KBC Peel Hunt that would permit an offer ofordinary shares or possession or distribution of this announcement or any otheroffering or publicity material relating to such ordinary shares in anyjurisdiction where action for that purpose is required. FSMA Qualified Investorswho seek to participate in the Placing must inform themselves about and observeany such restrictions. In particular, this announcement does not constitute anoffer to sell or issue or the solicitation of an offer to buy or subscribe forordinary shares in the capital of the Company in the United States, Canada,Japan or Australia or in any other jurisdiction in which such offer orsolicitation is or would be unlawful. The Placing Shares have not been and willnot be registered under the US Securities Act or under the securities laws ofany State or other jurisdiction of the United States, and, subject to certainexceptions, may not be offered or sold, resold or delivered, directly orindirectly in or into the United States, or to, or for the account or benefitof, any US persons (as defined in Regulation S under the US Securities Act). Nopublic offering of the Placing Shares is being made in the United States. Nomoney, securities or other consideration from any person inside the UnitedStates is being solicited pursuant to this announcement or the Placing. 3. PlacingThis Appendix gives details of the terms and conditions of, and the mechanics ofparticipation in, the Placing. KBC Peel Hunt will arrange the Placing as agent for and on behalf of theCompany. KBC Peel Hunt will determine in its absolute discretion the extent ofeach Placee's participation in the Placing, which will not necessarily be thesame for each Placee. No commissions will be paid to or by Placees in respect oftheir agreement to subscribe for any Placing Shares. Each Placee will be required to pay to KBC Peel Hunt, on the Company's behalf,the Placing Price as the subscription sum for each Placing Share agreed to besubscribed by it under the Placing in accordance with the terms set out in thisAppendix. Each Placee's obligation to subscribe and pay for Placing Shares underthe Placing will be owed to each of the Company and KBC Peel Hunt. Each Placeewill be deemed to have read this announcement in its entirety. To the fullest extent permitted by law, neither KBC Peel Hunt nor any other KBCPerson shall have any liability to Placees or to any person other than theCompany in respect of the Placing. 4. Participation and settlementParticipation in the Placing is only available to persons who are invited toparticipate in it by KBC Peel Hunt. A Placee's commitment to subscribe for a fixed number of Placing Shares underthe Placing will be agreed orally with KBC Peel Hunt. Such agreement willconstitute a legally binding commitment on your part to subscribe for thatnumber of Placing Shares at the Placing Price on the terms and conditions setout or referred to in this Appendix and subject to the Company's memorandum andarticles of association. After such agreement is entered into a tradeconfirmation will be dispatched to you by KBC Peel Hunt confirming the number ofPlacing Shares that you have agreed to subscribe , the aggregate amount that youwill be required to pay for those Placing Shares and settlement instructions. Itis expected that such trade confirmations will be despatched on the date of thisannouncement, that the "trade date" for settlement purposes will be the 23 March2007 and that the "settlement date" will be 26 March 2007. A settlement instruction form will accompany each trade confirmation and, onreceipt, should be completed and returned to Jamie Reynolds at KBC Peel Hunt byfax on +44 (0) 20 7972 0112 by 3.00 p.m. on 28 February 2007. Settlement of transactions in the Placing Shares (ISIN: GB00B1SZ5310) will takeplace within the CREST system, subject to certain exceptions, on a "deliveryversus payment" (or "DVP") basis. You should settle against CREST ID: 546. KBCPeel Hunt reserves the right to require settlement for and delivery of thePlacing Shares to Placees by such other means that it deems appropriate ifdelivery or settlement is not possible or practicable within the CREST systemwithin the timetable set out in this announcement or would not be consistentwith the regulatory requirements in any Placee's jurisdiction. If Placing Shares are to be delivered to a custodian or settlement agent, pleaseensure that the trade confirmation is copied and delivered immediately to theappropriate person within that organisation. 5. No ProspectusNo prospectus has been or will be submitted for approval by the FSA in relationto the Placing or the Placing Shares. Placees' commitments in respect of PlacingShares will be made solely on the basis of the information contained in thisannouncement and on the terms contained in it. 6. Placing SharesThe Placing Shares will, when issued, be credited as fully paid and will rankpari passu in all respects with the existing issued ordinary shares, except thatthey will not carry the right to receive any dividend which may be announced onor about the time that the Company releases the Group's results for the periodended 31 December 2006. Application will be made for the admission of the Placing Shares and to tradingon AIM. It is expected that Admission will take place and dealings in thePlacing Shares will commence, on 26 March 2007. 7. Placing AgreementKBC Peel Hunt has today entered into the Placing Agreement with the Companyunder which KBC Peel Hunt has, on the terms and subject to the conditions setout in the Agreement, agreed to use its reasonable endeavours as agent of theCompany to procure subscribers for Placing Shares at the Placing Price of 131pence each and, to the extent it does not do so, itself as underwriter tosubscribe for the relevant Placing Shares at the Placing Price. 8. Placing conditionsThe Placing is conditional, inter alia, on (a) the passing of the Resolutionrelating to the Placing that is to be proposed at the EGM, (b) the PlacingAgreement not being terminated in accordance with its terms, (c) Admissiontaking place not later than 8.00 a.m. on 26 March 2007, and (e) the PlacingAgreement becoming unconditional in all other respects. KBC Peel Hunt reserves the right (with the agreement of the Company) to waive orextend the time and or date for the fulfillment of any of the conditions in thePlacing Agreement to a time no later than 9.00 am on 16 April 2007 ("the LongStop Date"). If any condition in the Placing Agreement is not fulfilled or waived by KBC PeelHunt by the relevant time, the Placing will lapse and your rights andobligations pursuant to the Placing shall cease and terminate at such time. The Placing Agreement may be terminated by KBC Peel Hunt at any time prior toAdmission in certain circumstances including, inter alia, following a materialbreach of the Placing Agreement by the Company or the occurrence of certainforce majeure events. The exercise of any right of termination of the PlacingAgreement, any waiver of any condition to the Placing Agreement and any decisionby KBC Peel Hunt whether or not to extend the time for satisfaction of anycondition to the Placing Agreement or otherwise in respect of the Placing shallbe within KBC Peel Hunt's absolute discretion. KBC Peel Hunt shall have noliability to you in the event of any such termination, waiver or extension or inrespect of any decision whether to exercise any such right of termination,waiver or extension. 9. Payment defaultYour entitlement to receive any Placing Shares will be conditional on KBC PeelHunt's receipt of payment by the relevant time to be stated in the tradeconfirmation referred to above, or by such later time and date as KBC Peel Huntmay in its absolute discretion determine. KBC Peel Hunt may, in its absolutediscretion, waive such condition, and shall not be liable to you in the event ofit deciding whether to waive or not to waive such condition. If you fail to make such payment by the required time for any Placing Shares (1)the Company may release itself (if it decides, at its absolute discretion, to doso) and will be released from all obligations it may have to allot and/or issueany such Placing Shares to you or at your direction which are then unallottedand/or unissued, (2) the Company may exercise all rights of lien, forfeiture andset-off over and in respect of any such Placing Shares to the fullest extentpermitted under its articles of association or otherwise by law and to theextent that you then have any interest in or rights in respect of any suchshares, (3) the Company or, as applicable, KBC Peel Hunt may sell (and each ofthem is irrevocably authorised by you to do so) all or any of such shares onyour behalf and then retain from the proceeds, for the account and benefit ofthe Company or, where applicable, KBC Peel Hunt (i) any amount up to the totalamount due to it as, or in respect of, subscription monies, or as interest onsuch monies, for any Placing Shares, (i) any amount required to cover any stampduty or stamp duty reserve tax arising on the sale, and (iii) any amountrequired to cover dealing costs and/or commissions necessarily or reasonablyincurred by it in respect of such sale, and (4) you shall remain liable to theCompany and to KBC Peel Hunt for any loss which it may suffer as a result of it(i) not receiving payment in full for such Placing Shares by the required time,and/or (ii) the sale of any such Placing Shares to any other person at whateverprice and on whatever terms are actually obtained for such sale by or for it.Interest may be charged in respect of payments not received by KBC Peel Hunt forvalue by the required time referred to above at a rate per annum equal to twopercentage points above the Barclays Bank plc base rate. 10. Warranties and undertakingsBy agreeing with KBC Peel Hunt to subscribe Placing Shares under the Placing youwill irrevocably acknowledge and confirm and warrant and undertake to, and agreewith, each of the Company and KBC Peel Hunt (in its capacity as underwriter ofthe Placing and in its capacity as placing agent), in each case as a fundamentalterm of your application for Placing Shares, that: (a) you agree to and accept all the terms set out in this announcement; (b) your rights and obligations in respect of the Placing will terminate only inthe circumstances described in this announcement and will not be capable ofrescission or termination by you in any circumstances; (c) this announcement, which has been issued by the Company, is the soleresponsibility of the Company; (d) you have not been, and will not be, given any warranty or representation inrelation to the Placing Shares or to the Company or to any other member of itsGroup in connection with the Placing, other than by the Company as included inthis announcement or to the effect that the Company is not now in breach of itsobligations under the AIM Rules to disclose publicly in the correct manner allsuch information as is required to be so disclosed by the Company; (e) you have not relied on any representation or warranty in reaching yourdecision to subscribe Placing Shares under the Placing, save as given or made bythe Company as referred to in the previous paragraph; (f) you are not a customer of KBC Peel Hunt in relation to the Placing and KBCPeel Hunt is not acting for you in connection with the Placing and will not beresponsible to you in respect of the Placing for providing protections affordedto its customers; (g) you have not been, and will not be, given any warranty or representation byany KBC Person in relation to the Placing Shares or the Company or any othermember of its Group; (h) you will pay the full subscription amount as and when required in respect ofall Placing Shares allocated to you in accordance with such terms and will doall things necessary on your part to ensure that payment for such shares andtheir delivery to you or at your direction is completed in accordance with thestanding CREST instructions (or, where applicable, standing certificatedsettlement instructions) that you have in place with KBC Peel Hunt or put inplace with KBC Peel Hunt with its agreement; (i) you are entitled to subscribe for Placing Shares under the laws of allrelevant jurisdictions which apply to you and you have complied, and will fullycomply, with all such laws (including where applicable, the Anti-Terrorism,Crime and Security Act 2001, the Proceeds of Crime Act 2002, and the MoneyLaundering Regulations 2003) and have obtained all governmental and otherconsents (if any) which may be required for the purpose of, or as a consequenceof, such subscription; (j) you have complied and will comply with all applicable provisions of the FSMAwith respect to anything done or to be done by you in relation to any PlacingShares in, from or otherwise involving the United Kingdom and you have not madeor communicated or caused to be made or communicated, and you will not make orcommunicate or cause to be made or communicated, any "financial promotion" inrelation to Placing Shares in contravention of section 21 of FSMA; (k) you are a FSMA Qualified Investor (as defined earlier in this announcement); (l) you are acting as principal only in respect of the Placing or, if you areacting for any other person in respect of Placing (1) you are both an"authorised person" for the purposes of FSMA and a "qualified investor" asdefined at Article 2.1(e)(i) of Directive 2003/71/EC (known as the ProspectusDirective) acting as agent for such person, and (2) such person is either (i) aFSMA Qualified Investor or (ii) a "client" (as defined in section 86(2) of FSMA)of yours that has engaged you to act as his agent on terms which enable you tomake decisions concerning the Placing or any other offers of transferablesecurities on his behalf without reference to him; (m) nothing has been done or will done by you in relation to the Placing or toany Placing Shares that has resulted or will result in any person being requiredto publish a prospectus in relation to the Company or to any ordinary shares inaccordance with FSMA or the UK Prospectus Rules or in accordance with any otherlaws applicable in any part of the European Union or the European Economic Area; (n) you are not, and are not acting in relation to the Placing as nominee oragent for, a person who is or may be liable to stamp duty or stamp duty reservetax in respect of any agreement to acquire (or any acquisition of) shares orother securities at a rate in excess of 0.5% (including, without limitation,under sections 67, 70, 93 or 96 of the Finance Act 1986 concerning depositaryreceipts and clearance services), and the allocation, allotment, issue and/ordelivery to you, or any person specified by you for registration as holder, ofPlacing Shares will not give rise to a liability under any such section; (o) (applicable terms and expressions used in this paragraph have the meaningsthat they have in Regulation S made under the US Securities Act) (1) none of thePlacing Shares has been or will be registered under the US Securities Act, (2)none of the Placing Shares may be offered, sold, taken up or delivered, directlyor indirectly, into or within the United States except pursuant to an exemptionfrom, or in transactions not subject to, the registration requirements of the USSecurities Act, (3) you are not within the United States (unless you will besubscribing Placing Shares pursuant to an exemption referred to in the previousparagraph) and are not a US person, (4) you have not offered, sold or deliveredand will not offer sell or deliver any of the Placing Shares to persons withinthe United States, directly or indirectly, (5) neither you, your affiliates, norany persons acting on your behalf, have engaged or will engage in any directedselling efforts with respect to the Placing Shares, (6) you will not besubscribing Placing Shares with a view to resale in or into the United States,and (7) you will not distribute any offering material relating to PlacingShares, directly or indirectly, in or into the United States or to any personsresident in the United States; (p) KBC Peel Hunt may (at its absolute discretion) satisfy its obligations toprocure Placees by itself agreeing to become a Placee in respect of some or allof the Placing Shares or by nominating any other KBC Person or any personassociated with any KBC Person to do so; (q) time is of essence as regards your obligations under this Appendix; (r) you shall indemnify and hold each of the Company and KBC Peel Hunt harmless,on an after tax basis, from any and all costs, claims, liabilities and expenses(including legal fees and expenses) arising out of or in connection with anybreach by you of the terms in this Appendix; (s) this Appendix and any contract which may be entered into between you and KBCPeel Hunt and/or the Company pursuant to it shall be governed by and construedin accordance with the laws of England, for which purpose you submit to theexclusive jurisdiction of the courts of England and Wales as regards any claim,dispute, or matter arising out of or relating to this Appendix or such contract,except that each of the Company and KBC Peel Hunt shall have the right to bringenforcement proceedings in respect of any judgement obtained against you in thecourts of England and Wales in the courts of any other relevant jurisdiction;and (t) nothing in this Appendix shall exclude any liability of any person for fraudon its part. All times and dates in this announcement are subject to amendmentat the discretion of KBC Peel Hunt, except that in no circumstances will thedate scheduled for Admission at any time be later than the Long Stop Date. Appendix 2 The following definitions apply throughout this announcement, unless the contextotherwise requires: "Act" the Companies Act 1985 "Admission" the admission of the Placing Shares to trading on AIM becoming effective in accordance with the AIM Rules "AIM" the AIM market of London Stock Exchange "AIM Rules" the current version of London Stock Exchange's publication titled "AIM Rules for Companies" "Company" or "Hansteen" Hansteen Holdings PLC "CREST" the system for paperless settlement of trades and holdings of uncertificated shares administered and operated by CRESTCo Limited "Circular" a circular from the Company to shareholders relating to the Placing expected to be dated as at the date of this announcement "Directors" the directors of Hansteen "Existing Ordinary Ordinary Shares in issue at the date of this Shares" announcement "Extraordinary General the extraordinary general meeting of the Company to Meeting" or "EGM" be convened in connection with the Placing (expected to be held at 1 Berkeley Street, London, W1J 8DJ at 10:00 a.m. on 23 March 2007), notice of which is to be set out in the Circular "FSA" the Financial Services Authority "FSMA" the Financial Services and Markets Act 2000 "FSMA Qualified a person who is a "qualified investor" as referred to Investor" at section 86(7) of FSMA and at or to whom any private communication relating to the Company that is a "financial promotion" (as such term is used in relation to FSMA) may lawfully be issued, directed or otherwise communicated without the need for it to be approved, made or directed by an "authorised person" as referred to in FSMA "Group" the group comprising the Company and its subsidiary undertakings "KBC Peel Hunt" KBC Peel Hunt Ltd, the Company's nominated adviser and broker "KBC Person" any person being (1) KBC Peel Hunt, (2) an undertaking which is a subsidiary undertaking of KBC Peel Hunt, (3) a parent undertaking of KBC Peel Hunt or (other than KBC Peel Hunt) a subsidiary undertaking of any such parent undertaking, or (4) a director, officer, agent or employee of any such person "London Stock Exchange" London Stock Exchange plc "Ordinary Shares" ordinary shares of 10p each in the capital of the Company "Placing" the conditional placing by KBC Peel Hunt of the Placing Shares at the Placing Price pursuant to the terms of the Placing Agreement "Placing Agreement" the conditional agreement relating to the Placing made between KBC Peel Hunt and the Company "Placing Price" 131 pence per Placing Share "Placing Shares" the 53,435,115 new Ordinary Shares the subject of the Placing "Resolution" the special resolution to be proposed at the Extraordinary General Meeting "Shareholders" holders of Ordinary Shares "UK" or "United United Kingdom of Great Britain and Northern Kingdom" Ireland "United States" or "US" the United States of America, its territories and possessions, any state of the United States of America and the District of Columbia and all other areas subject to its jurisdiction "US Securities Act" the US Securities Act of 1933 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
HSTN.L