Hansteen Press Centre
Admission to the Official List and Conversion to a REIT
6th October 2009
Hansteen Holdings PLC (LSE: HSTN), the investor in UK and continental European real estate, is pleased to confirm that admission of its ordinary shares to the Official List and to trading on London Stock Exchange plcs Main Market for listed securities has now taken place.
Following admission all conditions have been satisfied to enable Hansteen to convert to a Real Estate Investment Trust (REIT) and HM Revenue & Customs has been notified that the Group has become a REIT with effect from todays date. The conversion to a REIT is a change in Hansteens tax status, and such a change in status will have tax consequences for Hansteen and its shareholders.
Further details of the tax consequences of the conversion to a REIT are set out in the circular sent to shareholders on 7 September 2009, which can be found on Hansteens website www.hansteen.co.uk.
Commenting on the move to the Official List, Ian Watson and Morgan Jones, Joint Chief Executives of Hansteen said: ‘We believe that the Official List is a more appropriate platform for the continued growth of our Group and we look forward to the opportunities that this move opens up, by increasing its profile, giving us better access to equity capital from a broader base of potential investors and offering shareholders greater liquidity in the shares. In addition, we believe the conversion of Hansteen into a REIT will be of significant benefit to the Group and its shareholders by creating a more tax efficient and transparent structure.’
ENQUIRIES:
Hansteen Holdings plc
Ian Watson
Morgan Jones
Tel: 020 7016 8820
KBC Peel Hunt(Sponsor & Broker)
David Davies
Matt Goode
Simon Brown
Tel: 020 7418 8900
Tavistock Communications
Jeremy Carey
Gemma Bradley
Tel: 020 7920 3150
6th October 2009
Hansteen Holdings PLC (LSE: HSTN), the investor in UK and continental European real estate, is pleased to confirm that admission of its ordinary shares to the Official List and to trading on London Stock Exchange plcs Main Market for listed securities has now taken place.
Following admission all conditions have been satisfied to enable Hansteen to convert to a Real Estate Investment Trust (REIT) and HM Revenue & Customs has been notified that the Group has become a REIT with effect from todays date. The conversion to a REIT is a change in Hansteens tax status, and such a change in status will have tax consequences for Hansteen and its shareholders.
Further details of the tax consequences of the conversion to a REIT are set out in the circular sent to shareholders on 7 September 2009, which can be found on Hansteens website www.hansteen.co.uk.
Commenting on the move to the Official List, Ian Watson and Morgan Jones, Joint Chief Executives of Hansteen said: ‘We believe that the Official List is a more appropriate platform for the continued growth of our Group and we look forward to the opportunities that this move opens up, by increasing its profile, giving us better access to equity capital from a broader base of potential investors and offering shareholders greater liquidity in the shares. In addition, we believe the conversion of Hansteen into a REIT will be of significant benefit to the Group and its shareholders by creating a more tax efficient and transparent structure.’
ENQUIRIES:
Hansteen Holdings plc
Ian Watson
Morgan Jones
Tel: 020 7016 8820
KBC Peel Hunt(Sponsor & Broker)
David Davies
Matt Goode
Simon Brown
Tel: 020 7418 8900
Tavistock Communications
Jeremy Carey
Gemma Bradley
Tel: 020 7920 3150
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