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Court approval and proposed return of capital

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RNS Number : 7506M
Hansteen Holdings plc
01 May 2018
 


1 May 2018

 

Hansteen Holdings PLC

("Hansteen" or the "Company")

 

Court Approval

of

Proposed Return of £145 million of Capital

(Representing 35 Pence per Ordinary Share)

 

Hansteen (LSE: HSTN), the industrial property investor, announces that the proposed reduction of capital described in the circular to shareholders published on 20 March 2018 (the "Reduction") was, on 1 May 2018, approved by the High Court of Justice Business and Property Courts of England and Wales (the "Court").  

 

The Court order, approving the reduction of the share premium account of the Company by £103,505,347.80 and the cancellation of the capital redemption reserve of the Company, will now be registered with the Registrar of Companies on or before 3 May 2018. Accordingly, upon registration the Reduction will become effective, allowing the return of c. £145 million of capital. Every holder of a fully paid Ordinary Share held at the Record Date (6:00 pm on 2 May 2018) will receive 35 pence in cash (the "Return").

 

The proposed Reduction and Return were approved by Shareholders at a General Meeting held on 11 April 2018.

 

Enquiries:

 

Hansteen Holdings PLC

Ian Watson

Morgan Jones

 

Tel: +44 (0) 20 7408 7000

Peel Hunt (Sole Broker)

Capel Irwin

 

Tel: +44 (0) 20 7418 8900

Tavistock

Jeremy Carey

Kirsty Allan

Tel: +44 (0) 20 7920 3150

 

 

Important notices

This announcement contains inside information.


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCSSEFSFFASELI

Quick facts: Hansteen Holdings plc

Price: 116.8

Market: AIM
Market Cap: £499.09 m
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