Hammerson Share Discussion Threads

[nickrl] 21/5/2020 14:46

Research Lighthouse have 10.31 of which 4.05% is held through a Dutch subsidiary. Also they only own 6.92% in physical shares 3.39% are options.

A Mauritius co and a Dutch subsidiary are legal entities who've been buying

[researchcentre123] 21/5/2020 13:52

William Cooper am a bit confused have lighthouse got 22% total or 10.6% held thru subsidiaries?

[tomboyb] 21/5/2020 13:43

Lighthouse will look to do well on increasing their stake here -

[researchcentre123] 21/5/2020 13:40

So do they own 22% or 10.6%?

[williamcooper104] 21/5/2020 13:25

and if own 22 percent and doing a placing to get more they cannot be far away from 30 and having to make an offer

[williamcooper104] 21/5/2020 13:23

The board needs to go whatever happens Don't know what it is about South Africans and U.K. retail - libery used to have a j berg listing - think there was a capital control angle

[s34icknote] 21/5/2020 12:17

1.50 is still half the 3.00 in January !Sicknote

[researchcentre123] 21/5/2020 12:03

Will be interesting to see what happens. I get the feeling that hammerson is run by managers rather than entrepreneurs. So if you get the involvement of a more entrepreneurial group there could be some very positive changes - share price at asset value of 600 in 2 years? I don't think it's impossible

[whites123] 21/5/2020 11:50

Flyfisher:

its intention to take advantage of strategic investment opportunities arising from the current financial market volatility.

That isnt by selling HMSO stock held.. :-)
It is by acquiring more with later intentions of ????
Improving their value, or by destroying their value?

Only one way this will be heading.

I expect £1.50 within a month.

[s34icknote] 21/5/2020 11:42

Dips in morning Rallies in afternoon !Just pausing till it marches on to 80/90p.Sicknote

[flyfisher] 21/5/2020 11:37

I would have thought short interests expect to cover in a placing.

Whites, you state '' intentions are clear'', what are they.

[researchcentre123] 21/5/2020 11:31

Ok thank you. So more or less, the shorts have all sold to Lighthouse who look like they are not in any hurry to stop buying given their capital raise. Seems like Lighthouse just balance out the shorts, big shareholders are hanging on to their stock and so I would have thought that that would leave the shorts getting squeezed some time soon as they try to buy shares off the small shareholders out there when they need to settle their positions.

[okosling] 21/5/2020 11:22

It means the 10.31% controlled by Lighthouse Capital Limited includes 4.05% controlled by subsidiary Lighthouse One Limited, and so on through the chain of ownership. Those shares are actually held by the last-named company.

By the way, the total short interest has increased this week from 12.79% to 12.96%.

[whites123] 21/5/2020 11:20

Flyfisher.

It does add up.. Each "Entity" making a declaration of holding.

Intentions are clear and very real.
I am at a loss as to why the share price has not reacted based on the knowledge of what is going to happen.

I guess its wait until it takes place before reaction occurs.

My opinion £1.50 within a month.
I do hold therefore I am biased... / hopeful.. :-)

[researchcentre123] 21/5/2020 11:14

I'm a bit confused myself. Are these companies that are owned by lighthouse capital Limited or do that just share similar shareholders? Does it mean that these linked companies have just bought 4.05% each? So that in total these linked companies own 22.5%?

[flyfisher] 21/5/2020 10:31

Todays holdings rns confuses me, 10.31%, but the bottom of the statement lists holdings in linked companies which don't add up to the total ?

Lighthouse Capital Limited 10.31%
Lighthouse One Limited 4.05%
Lighthouse One UK Limited 4.05%
Lighthouse Netherlands B.V. 4.05%

[researchcentre123] 21/5/2020 10:22

Well found flyfisher - they have raised double what they were planning.....
I'm not too sure how this dual listing works. I thought that there would be a set number of shares on the JSE (like happens with carnival) but I found this from when they originally listed which suggests that there is freeflow of shares between the 2 exchanges?:

The JSE has granted approval to Hammerson for a secondary listing, by way of introduction under the fast-track listing process contemplated in Section 18 of the JSE Listings Requirements, of all of its 791 879 155 issued and fully paid ordinary shares of 25 pence each ("Ordinary Shares") on the Main Board of the JSE in the "Retail REITs" sector, under the abbreviated name "HAMMERSON", JSE share code "HMN" and ISIN "GB0004065016", with effect from the commencement of trade on Thursday, 1 September 2016 (the "Listing Date") (the "Secondary Listing").

[flyfisher] 21/5/2020 10:12

CLOSING OF EQUITY RAISE IN CONSIDERATION FOR CASH OR SPECIFIED LISTED SHARES

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA,
JAPAN OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO

Shareholders are advised that Lighthouse has closed its bookbuild announced on 18 May 2020.

At ZAR7.00 per newly issued share on the South African register, the amount of capital raised was approximately ZAR4.2 billion (equivalent to approximately EUR212 million) through the placing of 600 000 000 new ordinary shares, either for cash or specified shares on the basis detailed in the SENS announcement released on 19 May 2020.

The placing of a portion of the new Lighthouse shares is subject to the fulfilment of certain conditions and completion of regulatory processes, details of which will be announced separately. Once all conditions have been fulfilled and regulatory approvals obtained, the Company will have a total of 1 207 790 136 ordinary shares in issue.

Successful applicants will be advised of allocations and settlement details during the course of today.

[flyfisher] 21/5/2020 09:58

That explains mondays strong rise.
Coronation hold around 5% and are south africa based.

What proportion of HMSO is JSE listed?

[researchcentre123] 21/5/2020 09:54

Thanks Williamcooper. I guess it would be handy for Lighthouse if a few people in South Africa had the same idea as them about buying shares and bought them while they were at the very bottom, then did that share swap. Shame they don't have a UK listing really. Whatever the case though they look very serious. They are raising £89 million. If that goes on hmso shares they'll be the largest shareholders at the current price but I guess we see. If they have a valid plan and I can't believe they don't, I would have thought that existing shareholders would be more than happy to support them if the board don't want to take their plan on.

[flyfisher] 21/5/2020 09:52

Lighthouse’s results for the six months ended 31 March 2020 were released on 30 April 2020. The board of directors of Lighthouse confirmed the Company’s focus on the management of its direct properties and listed securities, as well as its intention to take advantage of strategic investment opportunities arising from the current financial market volatility. On 15 May 2020, Hammerson plc notified the market of the Company’s investment in 9.13% of its issued shares.

Lighthouse seeks to raise additional equity to pursue strategies and opportunities within its investment policy, for cash or in exchange for listed shares, subject to regulatory constraints and compliance.

Lighthouse announces an equity raise of approximately ZAR2 billion through the issue of new ordinary shares (“Equity Raise”) on its South African share register in ZAR, for cash or in consideration for JSE-listed shares in Hammerson plc or NEPI Rockcastle plc (“Investment Shares”).

New shares will be issued by Lighthouse ex the distribution for the six months ended 31 March 2020, otherwise ranking pari passu in all respects with existing shares.

Lighthouse has appointed Java Capital as bookrunner to manage the process of engaging (“Bookbuild221;) with select participants in order to undertake the Equity Raise, which does not constitute a public offer of Lighthouse shares or any form of general or open offer to holders of Investment Shares. Java Capital will provide the select participants with the Bookbuild terms and conditions and any agreement reached will be subject to the approval of Lighthouse in its discretion.

The Equity Raise is subject to the requirements of the Company’s Constitution, the Listings Requirements of the JSE Limited (“JSE”) and the Listing Rules of the Stock Exchange of Mauritius Ltd (“SEM”). Accordingly, settlement of the Equity Raise will be conditional on meeting the requirements applicable to an issuance of shares and, if applicable, to acquisitions by Lighthouse and the requisite approvals from the JSE and the SEM.

The Bookbuild is now open and the Company reserves the right to increase the size of the Equity Raise and close it at any time. Pricing and allocations will be announced as soon as practicable following the closing of the Bookbuild.

[williamcooper104] 21/5/2020 09:35

I read it - doesn't say a lot more than what you summarised

[researchcentre123] 21/5/2020 09:14

Has anyone read the Times article....I'm not a subscriber so if anyone has the details would welcome hearing. Seems Lighthouse have offered a share swap for anyone with South African registered shares in Hamerson but I would welcome more details. Looks like they are more than a little serious about their interest in this company. Don't blame them....62p for 600p assets.......

[whites123] 21/5/2020 08:56

HPCG

Lighthouse’s results for the six months ended 31 March 2020 were released on 30 April 2020. The board of

directors of Lighthouse confirmed the Company’s focus on the management of its direct properties and listed

securities, as well as its intention to take advantage of strategic investment opportunities arising from the current

financial market volatility. On 15 May 2020, Hammerson plc notified the market of the Company’s investment

in 9.13% of its issued shares.


Maybe you should / could get a position with Lighthouse. They see the current share price of HMSO as an opportunity to acquire in light of the current financial market volatility.

HMSO with its core assets is in any way you try and look at it massively oversold.
The shorters have compounded the issue as its basic sense. When there is no buyer demand and selling will have a bigger effect on the share price movements.

Funds are not all long, shorts are in control and until the buying puts pressure on them to close we are likely to bounce along in this range.

Lighthouse could provide the catalyst to set this.

My target £1.50 within a month.
I am biased as I have taken a position recently.

[tomboyb] 20/5/2020 20:45

Good recovery today from the dip -

That bodes well for tomorrow -