Hammerson plc confirms possible disposal of its stake in VIA Outlets

Posted On Monday, 03 August 2020 18:03 Published by
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Hammerson plc confirms possible disposal of its stake in VIA Outlets to its joint venture partner APG.

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The Company confirms that it is in advanced discussions on the terms of a possible disposal of its 50% interest in VIA Outlets to its joint venture partner APG. It is also considering a possible equity raise by way of a rights issue.

The Company continues to take pro-active measures relating to the management of its cost base and cash-flow and in recent weeks it secured approval for the issuance of up to £300m under the Covid Corporate Finance Facility (CCFF) from the Bank of England.

Following the reopening of its flagship destinations across Europe, footfall and sales continue to improve and Q3 rent collection in the UK (excluding monthly payments and deferrals) has increased to over 30%.

The Company will provide a further update in due course, if appropriate.

Hammerson has its primary listing on the London Stock Exchange and a secondary inward listing on the Johannesburg Stock Exchange.

Last modified on Tuesday, 04 August 2020 19:51

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