Key Developments: Intu Properties PLC (ITUJ.J)
4,955.00ZAc
24 May 2013
-19.00c (-0.38%)
4,974.00c
4,967.00c
4,991.00c
4,926.00c
239,089
892,274
5,245.00c
3,970.00c
Latest Key Developments (Source: Significant Developments)
Intu Properties Plc Announces Results Of Placing
Intu Properties Plc announced the completion of the placing announced earlier on February 27, 2013 (the Placing). A total of 86 million new ordinary shares of 50 pence each in Intu (the Placing Shares) have been placed by BofA Merrill Lynch, UBS Limited and HSBC Bank plc, raising gross proceeds of approximately GBP280 million. Sterling Placing Shares have been issued at a price of 325 pence per Placing Share and Rand Placing Shares at a price of 43.6335 Rand per Placing Share. The Placing Shares being issued represent, in aggregate, approximately 9.9%. of Intu's issued share capital immediately prior to the Placing and 28% of the Placing Shares issued were denominated in Rand. Application will be made for admission of the Placing Shares to the Official List of the Financial Services Authority and to trading on the London Stock Exchange's main market for listed securities (UK Admission). The Company will also apply to the Johannesburg Stock Exchange for the listing of the Placing Shares on the Main Board of the Johannesburg Stock Exchange. It is expected that the admission and listing of the Placing Shares on the London Stock Exchange and the Johannesburg Stock Exchange will become effective on March 06, 2013. BofA Merrill Lynch and UBS Limited acted as Joint Bookrunners and corporate brokers in connection with the Placing. HSBC Bank plc acted as Joint Bookrunner in connection with the Placing. Full Article
Intu Properties Plc Announces Placing Of Shares; Acquisition Of Midsummer Place
Intu Properties Plc announced that an underwritten placing of up to 86.0 million new ordinary shares of GBP0.5 each in the capital of the Company, representing up to 9.9% of the Company’s issued share capital immediately prior to the Placing. Up to 50% of the Placing may be denominated in Rand. The Company has also announced that it has agreed to acquire Midsummer Place Shopping Centre, a prime shopping centre in Central Milton Keynes for a total cash consideration of GBP250.5 million before expenses. Completion of the Acquisition is expected to take place at the end of March 2013. The net proceeds from the Placing will be used to fund the consideration for the Acquisition. The Placing is not conditional upon completion of the Acquisition. In the event that the Acquisition does not complete, Intu will retain the net proceeds of the Placing for potential investment opportunities and general corporate purposes. Full Article
Intu Properties Plc Recommends Final Dividend
Intu Properties Plc announced that Directors are recommending a final dividend of 10.0 pence per share bringing the amount paid and payable in respect of 2012 to 15.0 pence. The dividend will be paid on June 4, 2013 with the record date on April 26, 2013. Full Article
Capital Shopping Centres Group plc Announces Name Change
Capital Shopping Centres Group plc announced that it will change its name to Intu Properties plc with effect from close of business on Friday, February 15, 2013. The last day to trade in shares under the old name will be Friday, February 15, 2013 and the first day to trade in shares under the new name will be Monday, February 18, 2013. The record date for the change of name is Friday, February 22, 2013. The Company will trade on the JSE under the new Code ITU and short name INTUPROP. Full Article
Capital & Regional PLC Announces Sale Of 50% Stake In Xscape Braehead To Capital Shopping Centres Group plc
Capital & Regional PLC announced the sale of its 50% stake in Xscape Braehead, Glasgow, to it's joint venture partner Capital Shopping Centres Group plc (CSC) . The consideration is GBP4 million cash, net of its share of related property debt . At June 30, 2012 the property valuation was GBP53.5M with associated debt of GBP45.6 million, with the Group share of NAV being GBP4.5 million. The 374,000 square foot Urban Entertainment Complex, was constructed from 2004 and is located adjacent to CSC's Braehead Shopping Centre and retail park, on the outskirts of Glasgow. Full Article
Capital Shopping Centres Group plc Eyeing $687 Million Trafford Mall Stake Sale-Reuters
Reuters reported that a stake in one of Britain's shopping centers may be sold for about GBP430 million pounds ($687 million), as the owner taps demand from overseas buyers for the real estate. Capital Shopping Centres Plc is exploring the sale of a quarter stake in the Trafford Shopping Centre in Manchester worth about GBP430 million based on the mall's GBP1.73 billion valuation in June. Full Article
Capital Shopping Centres Group plc Announces Interim Dividend
Capital Shopping Centres Group plc announced that an interim dividend for 2012 of 5.0 pence per ordinary share payable on November 20, 2012 (the Dividend). The Dividend will be paid totally as a Property Income Distribution. Full Article
Capital Shopping Centres Group plc Announces Convertible Bond Offering
Capital Shopping Centres Group plc announced the launch of an offering of GBP300 million of senior, unsecured Convertible Bonds due 2018 (the Bonds) with an option to increase the offering by an additional GBP50 million. The Company intends to use the net proceeds of the offering to improve its financing flexibility by: diversifying its funding sources; refinancing short term borrowings, including those relating to its recent acquisitions of the Broadmarsh Centre, Nottingham, and properties adjacent to its existing centres which provide additional development opportunities, such as King George V Dock and Centaurus Retail Park; and positioning CSC to advance its development pipeline and make further acquisitions. The Bonds are expected to be issued by Capital Shopping Centres (Jersey) Limited, a wholly owned subsidiary of the Company incorporated in Jersey (the Issuer), and will be guaranteed by the Company. The Bonds, which will have an expected maturity date of 04 October 2018, will be issued at par and are expected to carry a coupon of between 1.75% and 2.25% per annum payable semi-annually in arrear Full Article
Capital Shopping Centres Group plc Declares Interim Dividend
Capital Shopping Centres Group plc announced that the Board of Director has declared to pay an interim dividend of GBP0.05 per share on November 20, 2012 to shareholders on the register on October 19, 2012. Full Article
BRIEF-Intu Properties - Mall footfall 1 pct down
LONDON, May 8 - Intu Properties PLC : * Footfall 1 percent lower in malls year to date than 2012 * Occupancy 95 percent down 1 per cent from 31 December 2012 * 33 new long term leases signed in Q1 * Net external debt unchanged at £3.5 billion at 31 March 2013
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