Hammerson in secondary Dublin listing, adds new non-exec

By

Nigel TAYLOR

Published
Dec 21, 2020

UK-based property giant Hammerson is seeking a secondary stock market listing on Euronext Dublin, recognising “the importance and scale of its investor base in continental Europe and the Republic of Ireland”.

It said a secondary listing, expected to commence on 23 December, will enable the company “to maintain an efficient holding structure across its portfolio and guarantee an EU equivalent trading venue for Hammerson’s shares”.

The company owns and manages flagship destinations valued at £1.2 billion in France and £0.8 billion in Ireland in addition to significant City Quarters development opportunities in Dublin.

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Alongside its directly managed portfolio, Hammerson also has exposure to Value Retail destinations outside of the UK including La Valleé in Paris and La Roca in Barcelona.

Around 27% of Hammerson’s share capital held by institutional investors is held by investors based in the European Economic Area (excluding the UK).

Meanwhile, Hammerson has appointed Mike Butterworth as a non-executive director, effective 1 January. He will also become a member of the Audit Committee.

Butterworth brings 25 years’ experience in senior finance roles in FTSE 250, Small Cap and AIM businesses across a broad range of sectors including manufacturing, technology, communications, healthcare and beverages.   

Hammerson also said Gwyn Burr will remain on its board for an extended 12 months, subject to shareholder approval. She will have given nine years of service in May 2021 and was due to step down at the 2021 AGM.