HAMMERSON - SALE OF CANADIAN BUSINESS
TORONTO, Jan. 7 /CNW/ - Hammerson has today completed the sale of its Canadian business, Hammerson Canada Inc., to OMERS Realty Corporation. This follows the exchange of conditional contracts announced on 9 November 1998.
A surplus on the sale of the business was offset by taxation and a premium on the redemption of two publicly-quoted Canadian dollar bonds, resulting in a reduction of 10 pence per share in Hammerson's net asset value.
/For further information: Ronald Spinney, Chief Executive; Christopher Smith, Director of Corporate Affairs, Tel: 0171 887 1000, Fax: 0171 887 1010/
CO: Hammerson plc ST: Ontario IN: SU: TNM
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