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Intu Properties PLC (INTUP.L)

INTUP.L on London Stock Exchange

101.70GBp
18 Apr 2019
Change (% chg)

3.70 (+3.78%)
Prev Close
98.00
Open
98.50
Day's High
102.00
Day's Low
97.18
Volume
6,666,611
Avg. Vol
3,642,901
52-wk High
208.90
52-wk Low
97.18

Latest Key Developments (Source: Significant Developments)

Intu, Cale Street Announce JV For Intu Derby Shopping Centre
Thursday, 18 Apr 2019 

April 18 (Reuters) - Intu Properties Plc ::INTU DERBY JOINT VENTURE.ESTABLISHMENT OF A 50/50 JOINT VENTURE FOR INTU DERBY SHOPPING CENTRE . CONSIDERATION FOR 50 PER CENT INTEREST IS IN LINE WITH VALUATION AT 31 DECEMBER 2018 OF 372.5 MILLION POUNDS.CO & CALE STREET INVESTMENTS ANNOUNCES STABLISHMENT OF A 50/50 JOINT VENTURE FOR INTU DERBY SHOPPING CENTRE .TRANSACTION ADVANCES CO'S STATED STRATEGY OF REDUCING ITS DEBT TO ASSETS RATIO THROUGH DISPOSALS, PART-DISPOSALS.ON A PRO-FORMA BASIS, EXPECT IMPACT OF TRANSACTION TO REDUCE OUR LOAN TO VALUE BY AROUND ONE PER CENT .CALE STREET WILL BUY FOR CASH 50 PERCENT INTEREST FOR CONSIDERATION WHICH VALUES THEIR SHARE OF PROPERTY AT £186.3 MILLION, BEFORE ITEMS.  Full Article

Intu Properties Will Name Matthew Roberts As Its New Chief Executive Officer - Sky News
Wednesday, 3 Apr 2019 

April 3 (Reuters) - :INTU PROPERTIES WILL NAME MATTHEW ROBERTS AS ITS NEW CHIEF EXECUTIVE IN A STOCK EXCHANGE ANNOUNCEMENT AS EARLY AS THURSDAY - SKY NEWS.  Full Article

Intu Properties Confirms Search For Successor To CEO Is On-Going
Monday, 1 Apr 2019 

April 1 (Reuters) - Intu Properties PLC ::INTU PROPERTIES PLC - SEARCH FOR CHIEF EXECUTIVE SUCCESSOR.INTU PROPERTIES PLC - INTU NOTES RECENT PRESS COMMENT ON CEO SUCCESSION..INTU PROPERTIES PLC - CONFIRMS SEARCH FOR A SUCCESSOR TO CHIEF EXECUTIVE IS ON-GOING AND NO DECISION HAS YET BEEN MADE.  Full Article

Intu Properties FY Revenue 581.1 Mln Stg Vs 616 Mln Stg Reported A Year Earlier
Wednesday, 20 Feb 2019 

Feb 20 (Reuters) - Intu Properties PLC ::HAD CHALLENGING YEAR WITH DIFFICULT RETAIL & UNCERTAIN ECONOMIC ENVIRONMENT WITH RESPONDING TO 2 ABORTIVE CORPORATE OFFERS FOR CO.FY LIKE-FOR-LIKE NET RENTAL INCOME GROWTH OF 0.6 PER CENT (£2.3 MILLION).FY NAV PER SHARE (DILUTED, ADJUSTED) 312P.HAS HAD A CHALLENGING YEAR WITH DIFFICULT RETAIL, UNCERTAIN ECONOMIC ENVIRONMENT, WITH RESPONDING TO TWO ABORTIVE CORPORATE OFFERS.LOOK TO CONTINUE OUR STRATEGY OF ADAPTING TO THE CHANGING RETAIL ENVIRONMENT AND TO MAKE SMART USE OF CAPITAL.PROPOSE TO REDUCE OUR DEBT TO ASSETS RATIO OVER TIME BACK BELOW 50 PER CENT BY FURTHER DISPOSALS AND PART-DISPOSALS.RETAINING FOR TIME BEING CASH GENERATED BY ACTIVITIES RATHER THAN DISTRIBUTING IT AS DIVIDEND WITH NO FINAL DIVIDEND FOR 2018.LOOK TO RETAIN CASH GENERATED BY ACTIVITIES RATHER THAN DISTRIBUTING IT AS DIVIDEND.DIFFICULT YEAR FOR THE WHOLE UK RETAIL REAL ESTATE SECTOR.ACTIVELY PURSUING COMPLEMENTARY NON-RETAIL DEVELOPMENT ALTERNATIVES.WITH VERY LIMITED COMPARABLE TRANSACTIONAL EVIDENCE, PROPERTY VALUATIONS DECLINED AS SENTIMENT WEAKENED SIGNIFICANTLY.EPRA NNNAV AT THE END OF YEAR WAS 271P PER SHARE, DOWN FROM 349P THE YEAR BEFORE.2019 STRATEGY INCLUDES DISPOSAL AND PART-DISPOSAL OF CENTRES WHICH DO NOT MEET OUR WINNING DESTINATION CRITERIA OVER MEDIUM TERM.ANTICIPATE 2019 FY CHANGE IN LIKE-FOR-LIKE NET RENTAL INCOME, INCLUDING THE IMPACT OF HOUSE OF FRASER, TO BE DOWN BY 1 TO 2 PERCENT.  Full Article

Intu Properties Gives Whittaker-led Consortium Until Mid-Nov To Bid
Wednesday, 31 Oct 2018 

Oct 31 (Reuters) - Intu Properties PLC ::STATEMENT RE POSSIBLE OFFER.BOARD OF INTU REQUESTED THAT PANEL EXTEND DEADLINE REFERRED TO ABOVE WITH RESPECT TO CONSORTIUM.CONSORTIUM IS REQUIRED, BY NOT LATER THAN ON NOV 1, TO EITHER ANNOUNCE A FIRM INTENTION TO MAKE AN OFFER FOR INTU OR WALK AWAY.AFTER REQUEST FROM CONSORTIUM TO EXTEND DEADLINE TO ENABLE CONTINUED DISCUSSIONS, INTU REQUESTED PANEL EXTEND DEADLINE.EXTENSION HAS BEEN GRANTED BY PANEL AND OFFER DEADLINE NOW EXTENDED TO NOV 15.  Full Article

Intu Properties Sees FY LFL Net Rental Income To Be Flat To Up 1 Pct
Tuesday, 23 Oct 2018 

Oct 23 (Reuters) - Intu Properties PLC ::SIGNING 84 LONG-TERM LEASES FOR PERIOD FROM 1 JULY 2018 TO 23 OCTOBER 2018.ANTICIPATED FULL YEAR LIKE-FOR-LIKE NET RENTAL INCOME GROWTH TO BE IN RANGE OF 0 PER CENT TO 1 PER CENT.NAVPS (DILUTED, ADJUSTED) OF 344 PENCE FOR PERIOD FROM 1 JULY 2018 TO 23 OCTOBER 2018.OCCUPANCY AT 30 SEPTEMBER WAS 97.0 PER CENT, A 0.4 PER CENT IMPROVEMENT ON JUNE 2018 AND 0.4 PER CENT AHEAD OF SEPTEMBER 2017.  Full Article

Intu Confirms Deal Proposals From Consortium
Friday, 19 Oct 2018 

Oct 19 (Reuters) - Intu Properties PLC ::SAYS STATEMENT RE POSSIBLE OFFER.SAYS STATEMENT RE POSSIBLE OFFER AT 210.4 PENCE PER SHARE.SAYS CONFIRMS THAT ON 11 OCTOBER 2018 IT RECEIVED AN INDICATIVE PROPOSAL FROM CONSORTIUM OF 205 PENCE PER SHARE IN CASH.SAYS IN ORDER TO ADVANCE TALKS REGARDING FIRM OFFER, INDEPENDENT COMMITTEE RESOLVED TO GRANT CONSORTIUM ACCESS TO SOME DUE DILIGENCE MATERIALS.SAYS ON 17 OCT. GOT REVISED INDICATIVE PROPOSAL FROM CONSORTIUM OF 215 PENCE PER SHARE IN CASH, SUBJECT TO ADJUSTMENT FOR DIVIDENDS.SAYS SHOULD ANY OFFER ON TERMS OF REVISED INDICATIVE PROPOSAL BE FORTHCOMING, CONSIDERATION WOULD BE 210.4 PENCE PER SHARE.SAYS SHOULD ANY OFFER ON TERMS OF REVISED INDICATIVE PROPOSAL BE FORTHCOMING, CONSIDERATION MAY BE REDUCED MORE BY ANY OTHER DIVIDENDS/DISTRIBUTIONS.  Full Article

Intu Says Co Has Not Received An Approach From Consortium
Thursday, 4 Oct 2018 

Oct 4 (Reuters) - Intu Properties PLC ::STATEMENT RE POSSIBLE OFFER.INTU CONFIRMS THAT IT HAS NOT RECEIVED AN APPROACH FROM CONSORTIUM.FORMED AN INDEPENDENT COMMITTEE COMPRISING ALL DIRECTORS OF INTU OTHER THAN JOHN WHITTAKER, WHO IS CONNECTED TO CONSORTIUM.INDEPENDENT COMMITTEE WILL CONSIDER ANY APPROACH FROM CONSORTIUM, IF MADE.  Full Article

Brookfield Property Says Consortium Considering Cash offer Of Intu Not Owned By It
Thursday, 4 Oct 2018 

Oct 4 (Reuters) - BROOKFIELD PROPERTY GROUP::PEEL, OLAYAN, BROOKFIELD PROPERTY CONFIRM THAT CONSORTIUM IS IN PRELIMINARY STAGES OF CONSIDERING A POSSIBLE CASH OFFER FOR INTU.CONSORTIUM'S CONSIDERATION OF POSSIBLE OFFER IS AT PRELIMINARY & EXPLORATORY STAGE, NO APPROACH HAS BEEN MADE TO BOARD OF INTU..CONSORTIUM REQUIRED, BY NOT LATER THAN 5PM ON NOV 1 TO GIVE FIRM INTENTION TO MAKE OFFER FOR SHARES NOT ALREADY OWNED IN INTU.NO CERTAINTY TRANSACTION WILL ULTIMATELY BE FORTHCOMING, NOR ANY CERTAINTY AS TO TERMS OF ANY SUCH TRANSACTION..  Full Article

Intu Properties Says Regards Explanations Given By Hammerson For Its Withdrawal Of Recommendation As "Unsatisfactory"
Wednesday, 18 Apr 2018 

April 18 (Reuters) - Intu Properties Plc ::NOTES ANNOUNCEMENT ISSUED BY BOARD OF HAMMERSON."INTU IS ENTIRELY CONFIDENT OF INTU'S COMMERCIAL FUTURE AND PROSPECTS".REGARDS AS "UNSATISFACTORY" EXPLANATIONS GIVEN BY BOARD OF HAMMERSON FOR ITS WITHDRAWAL OF ITS RECOMMENDATION.BOARD OF INTU WILL BE MEETING TO CONSIDER HAMMERSON'S REQUEST NOT TO CONVENE A SHAREHOLDERS' MEETING TO VOTE ON INTU TRANSACTION.  Full Article

UPDATE 2-Intu sells shopping centre stake to Kuwait-backed fund to cut debt

* Liberum analyst says sale price supports valuations (Adds details on sale, retail sector, debt)