Key Developments: Land Securities Group PLC (LAND.L)

LAND.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Land Securities Group PLC Proposes Final Dividend
Wednesday, 15 May 2013 02:00am EDT 

Land Securities Group PLC announced that the Board has proposed a final quarterly dividend for the year ended March 31, 2013 of 7.6 pence per share (2012: 7.4 pence), which will be 100% PID, to the extent it is paid in cash, and result in a further estimated distribution of GBP59.4 million (2012: GBP57.5 million). It will be paid on July 19, 2013 to shareholders who are on the Register of Members on June 21, 2013.  Full Article

Capital & Regional PLC's Subsidiary Announces Completion Of Disposal Of X-Leisure Business To Land Securities Group PLC
Thursday, 17 Jan 2013 02:00am EST 

Capital & Regional PLC announced that the disposal of its 11.9% stake in the X-Leisure Fund and its 50% interest in X-Leisure Limited to a subsidiary of Land Securities Group PLC has completed. As detailed in the shareholder circular on the disposal of the X-Leisure business, published on December 21, 2012, the Company intends to use part of the disposal proceeds to buy back its own shares. Financial terms of the transaction were not disclosed.  Full Article

Land Securities Group plc Signs Share Purchase Agreements With Capital & Regional plc And AREA Property Partnership (UK) LLP
Tuesday, 4 Dec 2012 03:30am EST 

Land Securities Group plc announced that it has signed share purchase agreements with Capital & Regional plc and AREA Property Partnership (UK) LLP to acquire a further 42% interest in the X-Leisure Unit Trust and 100% interests in X-Leisure Limited (the management company of the fund) and X-Leisure (General Partner) Limited for an estimated total cash consideration of GBP110.6 million. Land Securities currently owns a 12% interest in the X-Leisure Unit Trust. The transaction is subject to: Approval from unit-holders who are not participating in this transaction to the transfer of the management company to Land Securities; and Capital & Regional shareholder approval for the sale of their interests in both the fund and the management company. The total cash consideration represents an estimated price per unit of 34.0 pence compared with the last published valuation as at October 2012 of 37.3 pence. The consideration is subject to closing adjustments and the payment of dividends accruing on the units up to completion. In addition, Land Securities will pay GBP1 million for the acquisition of the property management company. The acquisition of 100% interests in X-Leisure Limited and X-Leisure (General Partner) Limited gives Land Securities day to day control of the assets in the X-Leisure Unit Trust. The portfolio comprises 16 schemes, totalling 3.1 million sq ft of prime leisure and entertainment space.  Full Article

Land Securities Group plc Declares Second Interim Dividend
Thursday, 8 Nov 2012 02:00am EST 

Land Securities Group plc announced that the Board has proposed a second interim dividend of 7.4pence per share (2011: 7.2pence), which will be 100% PID, to the extent it is paid in cash. It will be paid on January 10, 2013 to shareholders who are on the Register of Members on December 7 ,2012.  Full Article

Land Securities Group plc Acquires Manchester's Printworks Leisure Scheme
Monday, 5 Nov 2012 03:55am EST 

Land Securities Group plc announced that it has acquired The Printworks, central Manchester's dominant leisure scheme for GBP93.9million . The Printworks was developed in 2000 and is prominently located in central Manchester. It attracted over nine million visitors in 2011 and is close to excellent transport links, the Manchester Evening News arena (MEN), the Arndale centre, Harvey Nichols and Selfridges. The scheme comprises over 350,000 sq ft of leisure accommodation and is currently 93% let with a weighted average unexpired term of 12.9 years. It houses an excellent variety of occupiers including the only IMAX cinema in Manchester, a Virgin Active health club, national restaurants and some nightclub and bar operators.  Full Article

BRIEF-Land Securities sells Bristol Partnership stake to Axa

* Land securities sells bristol partnership stake to axa real estate for £267.8 million

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