HSTN.L Regulatory News (HSTN)

23 Mar 2007 10:17

Hansteen Holdings plc23 March 2007 Hansteen Holdings plc ("the Company") Result of Extraordinary General Meeting Hansteen, the investors in Continental European real estate, is pleased toannounce that, at an Extraordinary General Meeting of the Company, which tookplace earlier today, the resolution put to shareholders in order to effect thePlacing to raise £70 million (before expenses), announced on 28 February 2007,was duly passed. The Placing remains conditional upon Admission of the New Ordinary Shares totrading on AIM. It is expected that Admission and dealings in the New OrdinaryShares will occur at 8.00 a.m. on Monday 26 March 2007. For further information please contact: Hansteen Holdings PLC Tel: +44 (0) 20 7016 8820 Ian WatsonMorgan Jones Tavistock Communications Tel: +44 (0) 20 7920 3150 Jeremy CareyRichard Sunderland Notes to Editors Hansteen Holdings plc is a property company formed by Morgan Jones and IanWatson, the founders and former directors of Ashtenne Holdings plc. Hansteenraised £125 million on its flotation on AIM in November 2005. Hansteen focuses on investing in industrial properties in Continental Europe,which have higher yields, cheaper financing costs, and greater opportunity forvalue improvement through asset management than can be achieved currently in theUK. It will also seek to profit from opportunistic acquisitions in otherproperty sectors both in the UK and abroad. In February 2007, Hansteen raised an additional £70 million at 131 pence pershare in a conditional Placing. The proceeds will be used to accelerate theassembly of its property portfolios, particularly in Continental Europe. Hansteen is listed on AIM, trading under the symbol HSTN and has a currentmarket capitalisation of over £170 million. This information is provided by RNS The company news service from the London Stock Exchange