The shareholders of Hammerson plc (LSE:HMSO) authorized a share repurchase program at its Annual General Meeting on May 9, 2013. Under the program, the company will repurchase up to 17,820,774 shares, representing 2.5% of its issued share capital. The minimum price which may be paid for any such share is 25 pence and the maximum price (excluding expenses) which may be paid for any such share is the higher of an amount equal to 105% of the average of the middle market ... quotations for an ordinary share in the company as derived from The London Stock Exchange Daily Official List for the five business days immediately preceding the day on which such share is contracted to be purchased and the amount stipulated by Article 5(1) of the EU Buy-back and Stabilisation Regulation being the higher of the price of the last independent trade and the highest current independent bid for an ordinary share in the company. The shares will be repurchased on the market. The repurchased shares will be held in treasury or may be available for re-sale as an alternative to cancelling them, thus providing additional flexibility in the management of its capital base. The program will be valid till the next Annual General Meeting or till August 9, 2014, whichever is earlier. As of March 8, 2013, the company had no shares in treasury and as of May 7, 2013, 712,855,554 shares in issue.
Read More

Hammerson plc (LSE:HMSO) and Canada Pension Plan Investment Board acquired an additional 33.3% stake in Bullring Shopping Centre from Australian Government Future Fund for approximately £310 million on May 3, 2013. Hammerson acquired 16.6% stake and Canada Pension Plan Investment Board acquired 16.7% stake in Bullring Shopping Centre. Hammerson's consideration of £153.5 million will be satisfied in cash from existing resources.

Westfield Group (ASX:WDC) acquired 50% stake in Centrale Shopping Centre from Hammerson plc (LSE:HMSO) on January 17, 2013. Jonathan Solomon, Franc Peña, Sarah Thomas, Matt Taylor, Geraldine Pigot, Robert Hill, Helen Martin, David Saleh, William Reay-Jones, Allegra Feltz, Alastair Windass, Alex Nourry, Christopher Duff, James Barlow, Simon Gilbert and Sarah Faull of Clifford Chance LLP, Simon Staite and Alan Crawford of Nabarro LLP, Nicholas Downing of Herbert Smith ... LLP acted as legal advisor for Hammerson plc. Michael Goldberg, Matt Dickerson, Colin Hargreaves, Pay Nassiri and David Fitzgerald of SJ Berwin, Colin Hargreaves of Freshfields Bruckhaus Deringer LLP, Hugh Lumby, James Ross, Amit Unadkat, Ann Minogue, Ben Patton and Jamie Chapman of Ashurst Australia acted as legal advisor for Westfield.
Read More

Sponsored Financial Commentaries

To contact HAMMERSON PLC, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.