TIDMSHB
RNS Number : 4488O
Shaftesbury PLC
01 June 2020
30 May 2020
Shaftesbury PLC
Response to announcement from Capital & Counties Properties
PLC
The Board of Shaftesbury PLC ("Shaftesbury" or the "Company")
notes the announcement this morning by Capital & Counties
Properties PLC ("Capco") of the agreement to acquire a 26.3 per
cent. shareholding in Shaftesbury from Veloqx (Jersey) Limited.
The Board looks forward to engaging with Capco as it would with
any other shareholder in the Company.
For further information:
Shaftesbury PLC 020 7333 8118 RMS Partners 020 3735 6551
Brian Bickell, Chief Executive Simon Courtenay
Chris Ward, Finance Director
MHP Communications 020 3128 8100
Oliver Hughes/Reg Hoare
The person responsible for arranging the release of this
announcement is Desna Martin, Company Secretary.
Notes for Editors
Shaftesbury is a Real Estate Investment Trust which invests
exclusively in the liveliest parts of London's West End. Focused on
food, beverage, retail and leisure, our portfolio is clustered
mainly in Carnaby, Seven Dials and Chinatown, but also includes
substantial ownerships in East and West Covent Garden, Soho and
Fitzrovia.
Extending to 15.2 acres, the portfolio comprises 608
restaurants, cafés, pubs and shops, extending to 1.1 million sq.
ft., 0.4 million sq. ft. of offices and 613 apartments. All our
properties are close to the main West End Underground stations,
which currently handle more than 225m passengers p.a., and within
ten minutes' walk of the two West End transport hubs for the
Elizabeth Line, at Tottenham Court Road and Bond Street, which
long-term projections indicate could be handling 200 million
passengers annually.
In addition, we have a 50% interest in the Longmartin joint
venture, which has a long leasehold interest, extending to 1.9
acres, in St Martin's Courtyard in Covent Garden.
We have a strong balance sheet with conservative leverage.
Our purpose
Our purpose is to curate vibrant and thriving villages in the
heart of London's West End. Our proven management strategy is to
create and foster distinctive, attractive and prosperous locations.
We have an experienced management team focused on delivering our
long-term strategic objectives, ultimately to deliver a positive,
long-lasting contribution to the West End.
Our Values
We have five core values that are fundamental to our behaviour,
decision making and the delivery both of our purpose and strategic
objectives: being human in how we operate, original in how we
nurture talent and think, community minded in our approach to the
West End, being responsible and long term in our approach to
everything.
Since 2015, we have supported the UN Global Compact principles
of sustainability and, in 2019, we integrated the UN Sustainable
Development Goals into our sustainability strategy. We have long
been committed to operating in a sustainable way. At the core of
our sustainability strategy is reusing and improving, rather than
redeveloping buildings. In doing so, we extend the useful economic
lives of these buildings while preserving the West End's rich
heritage for future generations.
Forward-looking statements
This document, the latest Annual Report and Shaftesbury's
website may contain certain "forward-looking statements" with
respect to Shaftesbury PLC (the Company) and the Group's financial
condition, results of its operations and business, and certain
plans, strategy, objectives, goals and expectations with respect to
these items and the economies and markets in which the Group
operates. Forward-looking statements are sometimes, but not always,
identified by their use of a date in the future or such words as
"anticipates", "aims", "due", "could", "may", "should", "expects",
"believes", "intends", "plans", "targets", "goal" or "estimates"
or, in each case, their negative or other variations or comparable
terminology.
Forward-looking statements are not guarantees of future
performance. By their very nature forward-looking statements are
inherently unpredictable, speculative and involve risk and
uncertainty because they relate to events and depend on
circumstances that will occur in the future. Many of these
assumptions, risks and uncertainties relate to factors that are
beyond the Group's ability to control or estimate precisely. There
are a number of such factors that could cause actual results and
developments to differ materially from those expressed or implied
by these forward-looking statements.
Any forward-looking statements made by, or on behalf of,
Shaftesbury PLC speak only as of the date they are made and no
representation or warranty is given in relation to them, including
as to their completeness or accuracy or the basis on which they
were prepared. Except as required by its legal or statutory
obligations, Shaftesbury PLC does not undertake to update
forward-looking statements to reflect any changes in its
expectations with regard thereto or any changes in events,
conditions or circumstances on which any such statement is
based.
Information contained in this document relating to Shaftesbury
PLC or its share price, or the yield on its shares, should not be
relied upon as an indicator of future performance. Nothing
contained in this document, the latest Annual Report or
Shaftesbury's website should be construed as a profit forecast or
an invitation to deal in the securities of the Company.
Ends.
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END
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