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Hammerson PLC (HMNJ.J)

HMNJ.J on Johannesburg Stock Exchange

5,008.00ZAc
6:10pm IST
Change (% chg)

33.00 (+0.66%)
Prev Close
4,975.00
Open
4,969.00
Day's High
5,011.00
Day's Low
4,941.00
Volume
612,891
Avg. Vol
625,790
52-wk High
10,050.00
52-wk Low
4,888.00

Latest Key Developments (Source: Significant Developments)

Hammerson Chief Financial Officer Timon Drakesmith To Step Down
Tuesday, 21 May 2019 

May 21 (Reuters) - Hammerson PLC ::HAMMERSON PLC - BOARD CHANGE.HAMMERSON PLC - AFTER EIGHT YEARS AS CHIEF FINANCIAL OFFICER, TIMON DRAKESMITH HAS TENDERED HIS RESIGNATION FROM COMPANY.HAMMERSON PLC - TIMON WILL CONTINUE TO BE A MEMBER OF BOARD UNTIL HE LEAVES LATER IN 2019.HAMMERSON PLC - WILL NOW BEGIN PROCESS TO APPOINT A SUCCESSOR.  Full Article

JP Morgan & Affiliates Disclose 5.18 Pct Stake In Hammerson As Of March 1 - Filing
Wednesday, 6 Mar 2019 

March 6 (Reuters) - Hammerson PLC ::JP MORGAN & AFFILIATES DISCLOSE 5.18 PERCENT STAKE IN HAMMERSON AS OF MARCH 1 - FILING.  Full Article

Elliott Welcomes Hammerson's Decision To Search For Additional Non-Exec. Directors
Monday, 25 Feb 2019 

Feb 25 (Reuters) - Elliott Advisors (UK) Ltd::ELLIOTT STATEMENT ON HAMMERSON.WELCOMES HAMMERSON BOARD'S DECISION TO SEARCH FOR TWO ADDITIONAL INDEPENDENT NON-EXECUTIVE DIRECTORS.WELCOMES HAMMERSON BOARD'S DECISION TO FORM NEW INVESTMENT AND DISPOSALS COMMITTEE.HAMMERSON'S UPDATED TARGETS FOR 2019, CURRENT PIPELINE OF POTENTIAL SALES OF OVER £900 MILLION, SIGNALS "POSITIVE DEVELOPMENT".  Full Article

Hammerson To Form Investment & Disposal Committee; Enters Agreement With Elliott
Monday, 25 Feb 2019 

Feb 25 (Reuters) - Hammerson PLC ::FINAL RESULTS.A PORTFOLIO-WIDE REVIEW TO ACCELERATE TRANSACTIONS HAS IDENTIFIED ADDITIONAL DISPOSAL OPPORTUNITIES.2019 DISPOSAL TARGET IN EXCESS OF £500M.IN ACTIVE DISCUSSIONS ON TRANSACTIONS WITH A TOTAL VALUE OF OVER £900M.DECIDED TO ESTABLISH AN INVESTMENT AND DISPOSAL COMMITTEE.INVESTMENT AND DISPOSAL COMMITTEE WILL BE CHAIRED BY ANDREW FORMICA.INVESTMENT AND DISPOSAL COMMITTEE TI HAVE 3 OTHER MEMBERS PIERRE BOUCHUT & 2 OTHER NON-EXECUTIVE DIRECTORS THAT BOARD WILL APPOINT IN 2019.FY NET RENTAL INCOME £347.5M VERSUS £370.4M REPORTED A YEAR EARLIER.2018 WAS A TOUGH YEAR PARTICULARLY IN UK.TENANT FAILURES, STRUCTURAL SHIFT IN RETAIL, A MORE CONSIDERED CONSUMER CREATED DIFFICULT OPERATING ENVIRONMENT.FY GROUP'S ADJUSTED PROFIT FOR 2018 WAS £240.3 MILLION, £6.0 MILLION, OR 2.4% LOWER THAN IN 2017.FINAL 2018 DIVIDEND MAINTAINED AT 14.8P PER SHARE.OUTSIDE OF UK CO'S DESTINATIONS PERFORMED BETTER WITH A STRONG CONTRIBUTION FROM PREMIUM OUTLETS.ENTERED INTO A RELATIONSHIP AGREEMENT WITH ELLIOTT ADVISORS.ELLIOTT HAS CONFIRMED ITS SUPPORT FOR COMPANY'S ACCELERATED DISPOSAL PROGRAMME.ELLIOTT HAS CONFIRMED SUPPORT FOR CO'S DECISION TO EXPAND BOARD AND ESTABLISH A BOARD INVESTMENT AND DISPOSALS COMMITTEE.RELATIONSHIP AGREEMENT WITH ELLIOTT ADVISORS CONTAINS CERTAIN VOTING AND GOVERNANCE TERMS.AGREEMENT CONTAINS TERMS INCLUDING COMMITMENT THAT ELLIOTT WILL VOTE IN FAVOUR OF ORDINARY COURSE RESOLUTIONS RECOMMENDED BY BOARD.  Full Article

Hammerson Says Terry Will Step Down As A Non-Executive Director
Friday, 25 Jan 2019 

Jan 25 (Reuters) - Hammerson PLC ::BOARD OF COMPANY AND TERRY HAVE MUTUALLY AGREED THAT WITH IMMEDIATE EFFECT TERRY WILL STEP DOWN AS A NON-EXECUTIVE DIRECTOR.GWYN BURR HAS BEEN APPOINTED TO ACT AS COMPANY'S NEW SENIOR INDEPENDENT DIRECTOR WITH IMMEDIATE EFFECT.  Full Article

Hammerson Says FY Financial Performance To Be In-line With Market Expectations
Wednesday, 2 Jan 2019 

Jan 2 (Reuters) - Hammerson PLC ::HAMMERSON PLC - SHARE BUYBACK PROGRAMME UPDATE.HAMMERSON PLC - CONFIRMS THAT ITS FINANCIAL PERFORMANCE FOR YEAR ENDING 31 DECEMBER 2018 IS ANTICIPATED TO BE IN LINE WITH MARKET EXPECTATIONS.  Full Article

Hammerson Says Co Sells Highcross Stake For 236 Mln Stg
Friday, 5 Oct 2018 

Oct 5 (Reuters) - Hammerson PLC ::HAMMERSON SELLS HIGHCROSS STAKE FOR £236M.EXCHANGED CONTRACTS FOR SALE OF A 50 PCT STAKE IN HIGHCROSS SHOPPING CENTRE IN LEICESTER FOR £236M.DEAL REPRESENTS 5 PCT DISCOUNT TO DEC. 2017 BOOK VALUE ALLOWING FOR CAPEX ASSOCIATED WITH PROACTIVE RECONFIGURATION OF HOUSE OF FRASER STORE.DEAL CREATES A NEW £472M JOINT VENTURE WITH AN ASIAN INVESTOR INTRODUCED BY M&G REAL ESTATE..HAMMERSON WILL MANAGE CENTRE FOR NEW JOINT VENTURE AND SALE PRICE REPRESENTS A NET INITIAL YIELD OF 5.5 PCT.COMPLETION OF TRANSACTION IS EXPECTED TO TAKE PLACE LATER IN YEAR SUBJECT TO EU COMPETITION CLEARANCE AND JOINT VENTURE FINANCE..  Full Article

Hammerson Prices Early Redemption Of 500 Mln Euro 2.75 Pct Bonds Due 2019
Friday, 24 Aug 2018 

Aug 24 (Reuters) - Hammerson PLC ::HAMMERSON PLC - REDEMPTION PRICING OF EUR500M 2.75% BONDS DUE 2019.HAMMERSON PLC - EARLY REDEMPTION OF THE EUR 500,000,000 2.75% BONDS DUE 2019 PRICED AT 103.219 PERCENT.  Full Article

Hammerson Announces Early Redemption Of EUR 500 Mln 2.75 Pct Bonds Due 2019
Tuesday, 24 Jul 2018 

July 24 (Reuters) - Hammerson PLC ::EARLY REDEMPTION OF EUR 500M 2.75% BONDS DUE 2019.  Full Article

Hammerson Announces Disposal Targets, Buyback, Adjusts Dividend Growth Rate
Tuesday, 24 Jul 2018 

July 24 (Reuters) - Hammerson PLC ::STRATEGY UPDATE AND UNAUDITED 2018 HALF-YEAR RESULTS.DISPOSAL TARGET OF £1.1 BILLION BY END OF 2019, WITH £300 MILLION ALREADY ACHIEVED THIS YEAR.HY NET RENTAL INCOME £178.5M VERSUS 184 MILLION STG REPORTED LAST YEAR.INCREASED OVERALL 2018 DISPOSAL TARGET OF £600 MILLION.HY ADJUSTED. PROFIT £120.0M VERSUS 119.4 MILLION STG REPORTED LAST YEAR.TO EXIT RETAIL PARKS SECTOR OVER MEDIUM TERM.COMMENCING A SHARE BUYBACK OF UP TO £300 MILLION.DUE TO INCREASED RISKS IN CURRENT MARKET ENVIRONMENT, START ON SITE OF DEVELOPMENT AT BRENT CROSS IS TO BE DEFERRED.TO DELEVERAGE WITH INTENTION TO REDUCE LTV TO MID-30S% LEVEL OVER MEDIUM TERM.EXPECTS TO DELIVER COST SAVINGS OF AT LEAST £7 MILLION P.A. THROUGH OPERATIONAL EFFICIENCIES AND LOWER CORPORATE COSTS.WILL NOW FOCUS SOLELY ON WINNING DESTINATIONS OF HIGHEST QUALITY.SEES SHRINKING DEPARTMENT STORE SPACE BY A QUARTER AND HIGH STREET FASHION BY A FIFTH.WILL NOW FOCUS SOLELY ON WINNING DESTINATIONS OF HIGHEST QUALITY: FLAGSHIP RETAIL DESTINATIONS AND PREMIUM OUTLETS.SEES DEPARTMENT STORE SPACE, HIGH STREET FASHION REPLACED BY DIFFERENTIATED BRANDS, ASPIRATIONAL FASHION, LEISURE, EVENTS & LIFESTYLE SPACES.HY GROUP VALUATIONS STABLE WITH CONTINUED GROWTH IN PREMIUM OUTLETS AND IRELAND OFFSETTING A SMALL YIELD-DRIVEN VALUATION DECLINE IN UK.PROPOSED BUYBACK WILL BE ACCRETIVE TO EPS AND NAV PER SHARE.IN NEAR TERM, WHILE CO DISPOSES OF ASSETS TO OPTIMISE PORTFOLIO MIX, INCOME WILL BE NEGATIVELY IMPACTED.  Full Article

UPDATE 1-Hammerson CFO Drakesmith resigns after eight years in role

May 21 British shopping centre operator Hammerson Plc said on Tuesday its chief financial officer, Timon Drakesmith, had resigned after eight years in the role.