Hammerson

Hammerson (UK): Highly Dilutive Rights Issue

Informative Notice

Hammerson (UK, GEIS Small Cap, FTSE 250 Index) have announced a capital reorganisation which will consist of a 1 for 5 consolidation followed by a 24 for 1 rights issue at GBP 0.15. Following shareholder approval and based on the current timetable, the consolidation will be effective on 02 September 2020, and the ex-date for the rights issue will occur on 10 September 2020.

In accordance with section 4.9.3 of the Corporate Actions and Events Guide, regarding the treatment of highly dilutive rights issues, the newly enlarged capitalisation of the company (on a fully paid basis) will be reflected through the inclusion of a separate line for the new shares (based on market price) and a separate line (Dummy Call line) representing the value of the subscription price.

Therefore the market capitalisation of Hammerson will be made up of the existing Ordinary Line, Nil Paid Rights Line and Dummy Call Line.

Please note: The Rights Issue terms will be applied to the new shares in issue total following the 1 for 5 consolidation.

·      Hammerson Ordinary Line (post-consolidation SEDOL BK7YQK6) will have an unchanged shares in issue total of 153,258,723 and an unchanged investability weight of 99.911401395%.

·      Hammerson Nil Paid Rights Line (BK7YQL7) will have a shares in issue total of 3,678,209,352 and an investability weight of 99.911401395%.

·      Hammerson Dummy Call Line (BKV3LS2) will have a shares in issue total of 3,678,209,352 and an investability weight of 99.911401395%.

During the subscription period and while the rights are trading, the Nil Paid Rights Line and Dummy Call Line will be deleted and merged with the Ordinary Line, effective on 21 September 2020, in conjunction with the September review date.