April 18 (Reuters) - Hammerson Plc:
* WITHDRAWAL OF RECOMMENDATION IN RESPECT OF INTU PROPERTIES PLC
* CONCLUDED THAT PROPOSED INTU ACQUISITION IS NO LONGER IN BEST INTERESTS OF SHAREHOLDERS
* IT IS WITHDRAWING ITS RECOMMENDATION TO HAMMERSON SHAREHOLDERS TO VOTE IN FAVOUR OF INTU ACQUISITION
* EQUITY MARKET’S PERCEPTION OF BROADER UK RETAIL PROPERTY MARKET HAS DETERIORATED SINCE START OF YEAR
* LED TO A DISCONNECT BETWEEN COMPANY’S SHARE PRICE AND FUNDAMENTAL VALUE OF ITS BUSINESS AND PROSPECTS
* BOARD OF HAMMERSON IS COMMITTED TO MAXIMISING VALUE FOR SHAREHOLDERS IN SHORTER AND LONGER TERM
* BOARD IS THEREFORE REVIEWING OPTIONS TO ACCELERATE DELIVERY OF VALUE FOR SHAREHOLDERS
* REASSESSING OPTIMAL PORTFOLIO MIX THROUGH APPROPRIATE DISPOSALS
* SEEKING OPPORTUNITIES TO INVEST FURTHER INTO HIGHER-GROWTH SEGMENTS SUCH AS PREMIUM OUTLETS AND IRELAND
* AN UPDATED EVALUATION OF RISK-ADJUSTED POTENTIAL RETURNS FROM COMPANY’S CAPITAL PROJECTS
* PURSUING CAPITAL RETURNS TO SHAREHOLDERS, AS APPROPRIATE, AND IN LINE WITH HAMMERSON’S STRONG CREDIT METRICS
* TARGETING MOST EFFICIENT COST AND OPERATING STRUCTURE WHILE MAXIMISING CUSTOMER AND RETAILER EXPERIENCE Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)
