| Fri 11 Jan 2002, 0:00 | | Liberty International Plc - Announcement Of 5% Sha |
|
America N.V. ("RNA").
Liberty International PLC has acquired 2.26 million shares in RNA
representing over 5% of RNA's issued share capital. The shares have been
acquired by recent market purchases at an aggregate cost of US $97.3 million
(GBP67.5 million) and an average price of US $43 (GBP30) per share.
This announcement is being made in terms of UKLA Listing Rule 10.31 relating
to Class 2 Transactions.
RNA is a major property investment company operating in the United States
and is one of the largest property companies quoted on the Official Market
of Euronext Amsterdam. Through focus on its core business of top quality
retail properties, RNA now ranks as the third largest shopping mall owner in
the US and the front runner in premium properties. RNA owns interests in 35
regional shopping malls located across the US.
As at 31 August 2001, RNA's consolidated balance sheet showed total
investments, primarily represented by its US regional mall interests, of US
$6.4 billion (GBP4.4 billion) and shareholders' equity of US $2.7 billion
(GBP1.9 billion). Published net assets per share as at that date amounted
to around US $60 (GBP42). Net rental income for the six month period ended
31 August 2001 including income from shopping centre participations amounted
to US $241 million (GBP167 million) with a net profit of US $111 million
(GBP77 million) and net profit per share of US $2.47 (GBP1.72). Net profit
per share for the twelve months ended 28 February 2001 amounted to US $4.78
(GBP3.31).
RNA has 45.1 million shares in issue excluding 14.7 million non-
participating shares recently issued to an external trust. Other major
shareholders are Westfield Holdings Limited, the major Australian and
international shopping centre operator, with a 23.9% shareholding, and the
Dutch pension fund, ABP, with a 6.6% shareholding.
Donald Gordon, Chairman of Liberty International commented:
"As the leading player in the UK shopping centre industry, Liberty
International is pleased to have obtained a significant shareholding in
Rodamco North America, a premium franchise in quality US regional malls. On
investment grounds, the shareholding is attractive having been acquired at a
substantial discount to net asset value and the current market price. At
our price of entry, the holding has a yield of over 11% in a situation with
both short term and strategic possibilities."
10 January 2002
Enquiries:
Liberty International PLC:
Donald Gordon, Chairman Tel: 020 7960 1201
David Fischel, Chief Tel: 020 7960 1207
Executive
Public Relations:
Michael Sandler, Hudson Tel: 020 7796 4133
Sandler
Notes for Editors
Liberty International PLC is a major UK listed property group owning 100 per
cent of Capital Shopping Centres PLC, the leading regional shopping centre
business, and Capital & Counties plc, a commercial and retail property
investment and development business.
Property assets under management, including partners' interests, amount to
over GBP5.0 billion of which GBP4.2 billion is directly owned.
The group's GBP4 billion regional shopping centre portfolio operated by
Capital Shopping Centres includes 6 of the UK's top 15 shopping centres,
receives approaching 200 million customer visits per annum, and includes
such landmark assets as Thurrock, Lakeside, the MetroCentre, Gateshead, and
Braehead Glasgow. The most recently opened shopping centre was The Chimes,
Uxbridge, which opened in March 2001, the group's tenth centre.
The current development programme of Capital Shopping Centres includes a
major GBP80 million extension at MetroCentre and projects at Oxford, Cardiff
and Liverpool which are at the planning stage.
The GBP1.0 billion commercial property portfolio operated by Capital &
Counties includes significant holdings in London's West End, particularly in
Piccadilly, Covent Garden, the Strand, Regent Street and High Street
Kensington, together with retail interests in major UK cities and a property
business in California with some $200 million of assets. Capital & Counties
recently announced the GBP70 million acquisition of King's Reach, Southwark,
a 275,000 sq.ft. office and retail complex on London's South Bank.
Liberty International has 284.2 million ordinary shares in issue with a net
asset value per share (diluted) at 30 June 2001 of 812p and shareholders'
funds of GBP2.4 billion at that date.
Liberty International has been listed on the London Stock Exchange since
July 1992, where it ranks as the fourth largest listed property company, and
is also listed on the Johannesburg Stock Exchange.
