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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Hansteen Holdings Plc | LSE:HSTN | London | Ordinary Share | GB00B0PPFY88 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 116.20 | 116.20 | 116.40 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMHSTN
RNS Number : 4144H
Hansteen Holdings plc
07 June 2017
7 June 2017
Hansteen Holdings PLC
("Hansteen" or the "Company")
Disposal of the German and Dutch portfolios for EUR1.28 billion to be completed on 16 June
Forward currency contract extended
Further to to the announcement made by the Company on 20 March 2017 of the proposed sale of its German and Dutch portfolios to entities owned by funds advised by affiliates of The Blackstone Group L.P. and M7 Real Estate for EUR1.28 billion, Hansteen announces that the transaction is expected to complete on 16 June 2017.
Hansteen announced on 20 March 2017 that this transaction would result in an increase in net cash for the Company of approximately Euro 750 million and that in order to hedge the majority of this increase, after taking into account its ongoing requirements for Euros to satisfy certain Euro liabilities, it had entered into a forward currency transaction to sell Euro 580 million for GBP 503,053,011 at GBP: EUR 1.15296, with a maturity date of 8 June 2017.
As the transaction is now expected to complete on 16 June, the Company has agreed to roll forward the maturity date of its forward currency transaction from 8 June to 20 June at the existing rate.
Following completion and repayment of the debt secured against the German and Dutch portfolios (and satisfaction of other incurred costs) Hansteen intends to distribute a substantial portion of the net cash proceeds of the transaction to its shareholders, details of which will be announced as soon as reasonably practicable.
Enquiries:
Hansteen Holdings PLC Tel: +44 (0) Ian Watson 20 7408 7000 Morgan Jones Peel Hunt (Financial Adviser, Sponsor Tel: +44 (0) and Broker) 20 7418 8900 Capel Irwin Edward Fox Tavistock Tel: +44 (0) Jeremy Carey 20 7920 3150 Kirsty Allan 07836 734 625 07824 393 242
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
June 07, 2017 06:06 ET (10:06 GMT)
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