HSTN.L Regulatory News (HSTN)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

6 November 2017

Hansteen Holdings PLC

("Hansteen" or, the "Company")

RESULTS OF TENDER OFFER

Hansteen (LSE: HSTN.L), the industrial property investor, today sets out the results of the Tender Offer, as set out in the Circular published by the Company on 4 October 2017.

567,878,750 Ordinary Shares were validly tendered by Qualifying Shareholders under the Tender Offer at the Tender Offer Price of 140.0 pence per Ordinary Share. Tenders will therefore be accepted in full, from Qualifying Shareholders who validly tendered their Individual Basic Entitlement or any number of Ordinary Shares less than their Individual Basic Entitlement. Tenders for in excess of Qualifying Shareholders' Individual Basic Entitlements will be satisfied to the extent of approximately 23.61 per cent.

412,946,522 Ordinary Shares will therefore be purchased by Peel Hunt on 7 November 2017 for a total cost of £578.13 million. This represents approximately 50 per cent. of the issued share capital of the Company. Under the terms of the Option Agreement, Peel Hunt has a put option exercisable on 7 November 2017 to require the Company to purchase, from Peel Hunt, the Ordinary Shares purchased by Peel Hunt pursuant to the Tender Offer at the Tender Offer Price. The Ordinary Shares purchased by the Company pursuant to the Option Agreement will be cancelled.

As set out in the Circular, it is anticipated that the proceeds payable to Qualifying Shareholders for the certificated Ordinary Shares purchased under the Tender Offer will be sent on 14 November 2017 in the form of a cheque and that CREST account holders will have their CREST accounts credited by 14 November 2017. Balance certificates will be despatched in respect of certificated Ordinary Shares that were not accepted pursuant to the Tender Offer on or around 14 November 2017.

The following Directors of the Company have had the following valid applications under the Tender Offer accepted:

Ian Watson and Morgan Jones, joint chief executives of Hansteen, said: "We are very pleased with the level of take-up of this tender offer, which at 140p per share represents a very attractive return of cash to our shareholders.

"We have retained enough capital to pursue near term, smaller scale opportunities and continue to see good potential to drive further value growth both through increasing income from our remaining portfolio by improving occupancy and growing rental levels and capitalising on the demand for industrial assets from the investment market."

Capitalised words and expressions in this announcement shall, unless the context provides otherwise, have the same meanings as in the Circular.

Enquiries:

Important notices

This announcement contains inside information.