HSTN.L Regulatory News (HSTN)

26 October 2017

HANSTEEN HOLDINGS PLC

("Hansteen" or, the "Company")

PROPOSED £580 MILLION TENDER OFFER AT 140p PER SHARE

Announcement of the General Meeting poll results 25 October 2017

Hansteen, the industrial property investor, announces that at its General Meeting held yesterday, the sole resolution (a Special Resolution) set out in the Notice of the Meeting in relation to the Company's proposed return of up to approximately £580 million by way of a Tender Offer at 140p per Ordinary share was passed by shareholders by way of poll.

Under the terms of the Tender Offer, Qualifying Shareholders are offered the opportunity to tender all, part or none of their respective Individual Basic Entitlement (i.e. 1 in every 2 Ordinary Shares held) to be purchased at a price of 140p per Ordinary Share. Qualifying Shareholders are also entitled to apply to tender Ordinary Shares in excess of their Individual Basic Entitlement to the extent that other shareholders do not tender up to their Individual Basic Entitlement. If the maximum number of shares under the Tender Offer is acquired, this will result in approximately £580 million being returned. The Tender Offer will close at 1.00 p.m. on 3 November 2017 with cash payments expected shortly thereafter.

The Directors have stated that they intend to tender their Individual Basic Entitlement and the balance of their Ordinary Shares above their Individual Basic Entitlement which, to the extent that other Shareholders do not tender at least their Individual Basic Entitlement, will be satisfied proportionately to other excess applications.

The Board has indicated to shareholders that if the maximum number of Ordinary Shares is purchased under the Tender Offer, as a result of this premium to the NAV per share and the costs associated with the Tender Offer (including the stamp duty), the Tender Offer will dilute the 30 June 2017 NAV per share of 133p by approximately 9p per share.

The results of the poll for the sole resolution were as follows:

Notes:

1. Votes "For" and "Against" are expressed as a percentage of votes received.

2. A vote "withheld" is not a vote in law and is not counted in the calculation of the % of shares voted "For" or "Against" a resolution.

3. Total number of shares in issue at close of business on 23 October 2017 was 825,893,517 ordinary shares. Up to 68.35% of voting capital was instructed.

4. These proxy results will be available shortly on the Company's website at www.hansteen.co.uk

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