Analyst Research Report Snapshot

Title:

HAMMERSON - READY TO TOUGH IT OUT

Price:

$10.00

Provider:

Edison Investment Research

Date:

11 Feb 2009

Pages:

2

Type:

AcrobatPDF

Companies referenced:

HMSO.L

Available for Immediate Download
Summary:

A £584m rights issue takes the pressure off the balance sheet, a fact reflected in the market’s positive response to a dilutive, seven for five rights issue, at a 62% discount to the previous close. Hammerson now has more influence over its own destiny, can steer clear of loan covenant breaches and avoid potentially expensive renegotiations with its banks. The dividend is also secure and although H109 may see further asset sales, the new funds enable it to hold out for acceptable terms. FOR MORE INFORMATION ON ATTACHED RESEARCH PLEASE CALL 020 3077 5713 OR EMAIL RESEARCH@EDISONINVESTMENTRESEARCH.CO.UK OR VISIT WWW.EDISONINVESTMENTRESEARCH.CO.UK

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