Key Developments: Intu Properties PLC (INTUP.L)

INTUP.L on London Stock Exchange

310.10GBp
11 Jul 2014
Price Change (% chg)

1.10p (+0.36%)
Prev Close
309.00p
Open
309.20p
Day's High
310.20p
Day's Low
307.30p
Volume
3,008,825
Avg. Vol
2,848,495
52-wk High
328.90p
52-wk Low
270.10p

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Latest Key Developments (Source: Significant Developments)

Intu Properties PLC announces formation of joint venture with KWAP at Intu Uxbridge
Thursday, 5 Jun 2014 07:13am EDT 

Intu Properties PLC:Says it has entered into a joint venture agreement in respect of intu Uxbridge.Says Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has acquired an 80 pct interest in intu Uxbridge for 175 mln pounds, representing two pct premium to its Dec. 31, 2013 valuation of 213.9 mln pounds (100 pct basis).Intu retains 20 pct interest and will continue to manage the centre on behalf of the joint venture.Transaction is in line with Intu's stated strategy of recycling capital into its 1.2 bln pounds development pipeline and demonstrates our capability to grow the scale of our business under the nationwide intu shopping centre brand.Intu will repay existing bank debt and terminate associated swaps amounting to around 155 mln pounds in aggregate.Net rental income for intu Uxbridge for the year ended Dec. 31, 2013 was 11.7 mln pounds.  Full Article

Intu Properties plc completes acquisition of interest
Thursday, 1 May 2014 07:06am EDT 

Intu Properties plc:Completes acquisition of 50 percent interest in Westfield Merry Hill shopping centre, 100 percent interest in Westfield Derby shopping centre and 100 percent interest in Sprucefield retail park.  Full Article

Intu Properties plc announces issues of shares
Tuesday, 22 Apr 2014 02:01am EDT 

Intu Properties plc:Says 2 for 7 rights issue of 278,241,628 ordinary shares of 50 pence each in the share capital of the company at 180 pence or 32.28 rand per New Share announced on 20 March 2014 closed for acceptances at on April 17.Says it received valid acceptances in respect of 275,493,790 new shares, representing about 99.0 pct of the total number of New Shares offered to qualifying shareholders pursuant to the fully underwritten rights issue.  Full Article

Intu Properties Plc updates on final dividend
Thursday, 20 Mar 2014 03:36am EDT 

Intu Properties Plc:Says on Feb. 28, the directors proposed a final dividend for 2013 of 10.0 pence per share.Announces Payment date May 20.  Full Article

Intu Properties Plc announces acquisition of Westfield Merry Hill shopping centre
Thursday, 20 Mar 2014 03:35am EDT 

Intu Properties Plc:Enters into agreements with certain Westfield Entities to acquire Westfield Entities' and certain joint venture partners' 50 per cent interest in Westfield Merry Hill shopping centre, Westfield Entities' and certain joint venture partners' 100 per cent.Says aggregate consideration of 867.8 mln Pound to be financed by new debt facilities totalling 423.8 Pound mln and a fully underwritten rights issue of 2 new shares for every 7 existing shares.  Full Article

Intu Properties Plc recommends final dividend for 2013
Friday, 28 Feb 2014 02:00am EST 

Intu Properties Plc:Recommends a final dividend of 10.0 pence per share bringing the amount paid and payable in respect of 2013 to 15.0 pence, unchanged from 2012.  Full Article

Intu Properties Plc Updates on Scrip Dividend
Wednesday, 20 Nov 2013 07:45am EST 

Intu Properties Plc announced that a total of 6,837,832 new ordinary shares of 50 pence each in the capital of the Company were issued on November 19, 2013 in connection with the Scrip Dividend Alternative to the Company's 2013 Interim Dividend.  Full Article

Intu Properties Plc Proposes GBP485 Million Metrocentre Bond
Wednesday, 6 Nov 2013 07:15am EST 

Intu Properties Plc announced the launch of a proposed GBP485 million bond to refinance existing debt facilities which are due to mature in February 2015. The proposed transaction is to have a simple capital structure with opening loan to value ratio of c. 55% and is expected to obtain an investment grade rating. HSBC and Lloyds Bank will be acting as joint bookrunners on the proposed bond issue and Rothschild is providing independent debt advice to The Metrocentre Partnership. The bond is expected to be listed on the Irish Stock Exchange.  Full Article

Intu Properties Plc And Canada Pension Plan Investment Board Announces Acquisition Of Parque Principado Shopping Centre
Monday, 7 Oct 2013 02:00am EDT 

Intu Properties Plc announced a joint partnership agreement to acquire Parque Principado Shopping Centre, Oviedo, a 75,000m2 (approximately 800,000 sq ft) prime regional retail destination in Asturias, Northern Spain. Intu Properties plc and Canada Pension Plan Investment Board have together entered into a joint partnership agreement to acquire Parque Principado Shopping Centre, Oviedo, a 75,000m2 (approximately 800,000 sq ft) prime regional retail destination in Asturias, Northern Spain. The purchase price for the acquisition is EUR162 million before transaction costs. Intu will undertake the asset management of the property. It is the co-investors' intention after acquisition to secure bank financing at around 50 per cent of the property value.  Full Article

Intu Properties Plc Announces Payment Of Interim Dividend
Thursday, 1 Aug 2013 02:00am EDT 

Intu Properties Plc announced that the Directors have resolved to pay an interim dividend of GBP0.05 per share on November 19, 2013 to shareholders on the register on October 18, 2013.  Full Article

BRIEF-Intu Properties enters into JV with Malysia's KWAP for Intu Uxbridge

* Kumpulan Wang Persaraan (Diperbadankan) ("KWAP"), 19 bln stg (Malaysian Ringgit 106 billion) Malaysian pension fund, has acquired an 80 per cent interest in Intu Uxbridge for 175 mln stg

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