intu properties
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intu properties share price, latest news and opinion | city a. m .
the registrar for intu properties plc ordinary shares registered in south africa is terbium financial services .
the company history page lists out the major events in chronological order for prozone intu properties ltd .
the last ic recommendation on intu properties plc shares was hold at 293. 90 on 24 feb 2017
intu properties plc reported annual 2017 earnings of 0. 145 per share on feb 22, 2018 .
specific hard copies of certain intu properties plc publications can be ordered via this website or by contacting the company .
in addition, all shareholders can register via this website to be advised of all corporate announcements by intu properties plc .
our story is one of building the scale for which intu would eventually become known. our predecessor companies acquired intu trafford centre, intu broadmarsh and the site for intu braehead, plus stakes in manchester arndale, cribbs causeway, and st david’s in cardiff. it also saw the successful opening of intu chapelfield in norwich and expansion of intu lakeside and intu metrocentre .
company' s super - regional centers include intu trafford centre, intu lakeside, intu metrocentre, intu braehead, intu merry hill and cribbs causeway. the company' s in - town centers include intu derby, manchester arndale, st david' s cardiff, intu victoria centre, intu watford and intu eldon square. the company' s spanish centers include puerto venecia, zaragoza and intu asturias. the company' s subsidiaries include intu (sgs) limited, intu debenture plc, intu finance mh limited, barton square holdco limited, sprucefield no. 2 general partner limited, liberty international group treasury limited, liberty international holdings limited, metrocentre (holdco) limited and nailsfield limited .
intu properties plc (lse: intu) generated a below - average return on equity of 3. 96% in the past 12 months, while its industry returned 8. 65% . though intu’s recent performance is underwhelming, it isread more ...
intu properties was the top ftse riser this morning, despite the group' s profit falling by more than 60 per [... ]
on monday, intu properties plc (intu: lse) closed at 187. 25, 5. 31% above its 52 - week low of 177. 80, set on jul 02, 2018 .
intu properties plc had revenues for the full year 2017 of 616. 00m. this was 3. 65% above the prior year' s results .
as of jul 06, 2018, the consensus forecast amongst 19 polled investment analysts covering intu properties plc advises investors to hold their position in the company. this has been the consensus forecast since the sentiment of investment analysts improved on mar 23, 2017. the previous consensus forecast advised that the company would underperform intu properties plc .
1 12 / 2010 dividend cut was due to a demerger. demerger of capital & counties properties .
the latest earnings update intu properties plc (lon: intu) released in december 2017 showed that the company benefited from a strong tailwind, leading to a double - digit earnings growth of 18. 61% . below, read more ...
retail worries spur hammerson u - turn on $ 4. 8 billion intu deal
in 2013, capital shopping centres group plc (csc) took the bold decision to establish itself as intu properties plc, and a new consumer - facing brand was born as well as the launch of the uk' s first transactional shopping centre, intu. co. uk. at the same time, intu also formed of a joint venture with bilfinger europa to create an in - house centre management company, intu retail services .
intu properties plc owns and manages shopping centers in the united kingdom and in spain. the company is primarily a shopping center - focused business and operates through two segments, including united kingdom and spain. the
as of december 31, 2016, equity one’s portfolio comprised 122 properties, including 101 retail properties and five non - retail properties totaling approximately 12. 8 million square feet of gross leasable area, or gla, 10 development or redevelopment properties with approximately 2. 3 million square feet of gla, and six land parcels. as of december 31, 2016, equity one’s retail occupancy excluding developments and redevelopments was 95. 8% and included national, regional and local tenants. additionally, equity one had joint venture interests in six retail properties and two office buildings totaling approximately 1. 4 million square feet of gla .
intu properties plc reported semi annual 2017 revenues of 308. 70m. this missed the 335. 64m estimate of the one analyst following the company. the same period last year the company did not report revenues .
if you are a shareholder in prozone intu properties limited’s (nsei: prozonintu), or are thinking about investing in the company, knowing how it contributes to the risk and reward profile ofread more ...
in this analysis, my focus will be on developing a perspective on prozone intu properties limited’s (nsei: prozonintu) latest ownership structure, a less discussed, but important factor. the impact of aread more ...
existing south african shareholders whose shares are held in electronic format through trifecta' s csdp, may trade intu properties plc shares through terbiums’s low cost telephone share dealing service by calling the team on 0860 222 213 (sa calls only) .
while small - cap stocks, such as prozone intu properties limited (nsei: prozonintu) with its market cap of ₹8. 27b, are popular for their explosive growth, investors should also be aware of their balanceread more ...
the business that we now recognise as intu began to take shape a long time ago ...
intu properties plc engages in the management of shopping centres. it offers its services to the retailers, restaurateurs and leisure specialists. its activities include leasing of its investment properties, commercialization of malls and car parks, and digital shopping. it operates through the united kingdom and spain geographic segment. the company was founded by donald j. gordon in 1980 and is headquartered in london, the united kingdom .
the launch of intu. co. uk, a transactional, fashion - focused, mobile - enabled website
the merry hill shopping centre has been bought in a £407. 7 million takeover by property group intu .
intu: lse price rises above 15 - day moving average to 186. 35 at 16: 50 bst
edited transcript of intu. l earnings conference call or presentation 22 - feb - 18 9: 30am gmt
hammerson plc withdrew its 3. 2 billion - pound ($ 4. 6 billion) offer to buy intu properties plc after a growing number of its shareholders opposed a deal that would have created the u. k. ’s biggest shopping - mall ...
intu properties (formerly capital shopping centres group) owns and operates shopping centres across the uk, including 10 of the top 25. the company owns 16. 6m sq. ft. of retail space, valued at £7bn, and attract over 320m customer visits each year. on january 15th of this year, the group announced the creation of a nationwide consumer facing shopping centre brand - intu - and officially changed its name from capital shopping centres group to intu properties on february 18th. the company has an investment plan of £1bn over the next ten years on active management projects and major extensions of existing assets involving most of its centres .
on feb 22, 2018, intu properties plc reported semi annual 2017 earnings of 0. 072 per share. this result was in line with the expectation of the one analyst following the company and was the same as last year' s results for the same period .
the deal gives intu the half share in the brierley hill - based shopping centre that had been owned by westfield .
in 2017, intu properties plc reported a dividend of 0. 11 gbp, which represents a 2. 50% increase over last year. the 17 analysts covering the company expect dividends of 0. 14 gbp for the upcoming fiscal year, an increase of 21. 08% .
all intu properties plc issued ordinary shares are listed in both london and johannesburg but are registered on the appropriate share register. for shares registered in the uk, which generally are all the shares other than those held by shareholders resident in south africa, the registrar is link asset services .
shopping centre owner intu reported today that footfall at its uk businesses had increased during the three months [... ]
the 17 analysts offering 12 month price targets for intu properties plc have a median target of 210. 00, with a high estimate of 295. 00 and a low estimate of 155. 00. the median estimate represents a 11. 32% increase from the last price of 188. 65 .
john whittaker, the secretive billionaire behind intu owner peel holdings, has been secretly building up a stake [... ]
encouraging large flagship formats and reducing the number of smaller units will make the centre more attractive to retailers and customers, and improve the rental tone. this strategy is similar to that which has been successfully implemented at intu trafford centre and intu lakeside .
shopping centre owner intu saw record retailer demand in the first quarter of the year, as the business geared [... ]
intu properties plc recognises the speed and efficiency of electronic communications and elimination of the waste and expense inherent in the production and posting of hard copy annual accounts, notices of shareholders meetings and other documents which are required to be sent to shareholders (’ shareholder information ‘). click here for more information about electronic communications .
our multichannel model combines leasing - experiential - digital (led) to help retailers and brands to reach intu’s extensive, loyal customer base .
now owners of 20 shopping centres and with a growing operation in spain, intu is an independent property company, listed in london and johannesburg .
intu has posted a solid set of full - year results as the retail property firm pushes ahead with its merger with [... ]
it' s ftse 100 reshuffle time again next week - and research suggests dixons carphone, easyjet, capita and intu [... ]
a 3. 4 billion - pound takeover of british shopping centre operator intu properties (intup. l) by bigger rival hammerson (hmso. l) has been formally scrapped after hammerson was freed from its obligation to hold a shareholder vote on the deal. intu said on wednesday that its board would not post the scheme of arrangement documents for the takeover to its investors and that hammerson would no longer have to proceed with the all - share deal and put it to a vote. intu, which owns manchester' s trafford centre, would have also been required to hold a meeting to allow its shareholders to agree to the takeover .
2012 - company has changed its name from castle mall ltd. to prozone capital shopping centres ltd. 2014 - company has changed its name from prozone capital shopping centres limited to prozone intu properties limited with effect from july 24, 2014. - the company symbol has been changed from prozonecsc to prozonintu w. e. f. october 07, 2014 .
property group hammerson has made a recommended £3. 4bn offer for rival intu, in a deal the groups say will create [... ]
existing uk shareholders may trade intu properties plc shares through link share dealing services who provide an easy to use, real - time online, telephone and postal dealing service at urltoken, or telephone: 0871 664 0364 (telephone dealing for uk calls only - calls cost 10p per minute plus network extras, lines are open 8. 00am to 4. 30pm monday to friday) .
intu' s boss has said the company will now
move forward
after hammerson called off its £3. 4bn offer for the [... ]
intu properties plc (formerly capital shopping centres group, former liberty international plc) owns and manages some of the best shopping centres, in some of the strongest locations, in the uk and spain. its uk portfolio is made up of 17 centres, including ten of the top 25, and in spain it owns three of the country' s top 10 centres, with advanced plans to build a fourth .
merry hill owner intu says it aims to accelerate major revamp plans for the giant shopping centre following its £410 million deal to buy the half it didn' t already own .
the terbium website provides certain shareholder services online (note: the trifecta company code for intu properties plc is ituz). shareholders registered in south africa can use this service to obtain details of their shareholdings. shareholders will need to follow a registering process in order to access such information. unfortunately, due to south african legal requirements, shareholders may not update records, but will be able to view their entire holding of shares globally .
intu also outlined major redevelopments at its lakeside and watford shopping centres and plans for more than 30 new restaurants at gateshead' s metrocentre, bromley and at eldon square in newcastle .
shares in the london - listed company were down 10. 7 percent at 464. 2 pence at 1040 gmt, erasing most of their gains since klepierre made its original approach in march. shares in paris - based klepierre were up 3. 9 percent. klepierre' s decision to drop its takeover attempt leaves the company behind birmingham' s bullring centre free to pursue its own acquisition of fellow london - listed shopping centre operator intu properties .
intuit (intu) has maintained stable margin growth, driven by strong revenue growth and subscriber additions. moreover, selling high - margin products has offset selling, marketing, and service expenses .
the steps that would lead us to where we are today, were taken with the demerger of liberty international plc into csc plc and capital & counties properties plc in 2010. in 2012 styleme tv limited, the company that would form the basis of intudigital limited was acquired .
the acquisition helped boost the value of intu' s assets to more than £10 billion. across its shopping centres it saw the number of customers increase by 1. 3% over the six months. 96. 1% of its stores are occupied. it faces the imminent closure of bhs stores, following that companies collapse this year, but intu said it had interest from other retailers in all the sites .
regency is the preeminent national owner, operator and developer of neighborhood and community shopping centers which are primarily anchored by productive grocers and located in affluent and infill trade areas in the country’s most attractive metro areas. as of december 31, 2016, regency’s portfolio of 307 retail properties encompassed over 42. 2 million square feet, which includes properties held in co - investment partnerships. regency has developed 225 shopping centers since 2000, representing an investment at completion of more than $ 3. 5 billion. operating as a fully integrated real estate company, regency is a qualified real estate investment trust that is self - administered and self - managed .
- intudigital is run separately, which makes no sense at all as intu properties plc is a ftse 100 company but has the least say in what goes on with their own website and app! - worst people management i' ve ever encountered - new ideas are often shot down by management (
just do what i say
kind of thing) - no focus on culture. everyone knows how a company treats its staff is a measure of how it views its customers. - toxic environment at intudigital makes lots of people feel on edge - uninspiring leadership
the other half is retained by australian investment group qic. the agreement is part of a £867. 8m property deal that sees intu take over complete ownership of westfield' s derby shopping centre and sprucefield retail park in northern ireland .
intu said that buying the other half of the £890m merry hill site in june from australian investment group qic would enable it
to accelerate re - engineering the retail, catering and leisure mix to unlock the full potential of this centre
.
csc has the physical scale to establish a strong national brand to integrate the online and shopping centre retail experience. today we are announcing a £25 million investment to create a nationwide consumer - facing shopping centre brand, intu, and a transformed digital proposition .
merry hill is the fourth biggest of intu' s uk shopping centres, with 213 stores and 1. 67 million sq ft of space. as well as increasing the size of its biggest stores the group plans on major improvements to the restaurant and leisure facilities at the centre .
our story is one of mergers, acquisitions, investment and growth, which has seen intu grow from its early form as the fledgling international arm of liberty life association of africa limited (a south african financial services company founded by donald gordon in 1958) to a thriving shopping centre business .
csc was established in may when the real - estate investment trust liberty international split in two, which also led to the formation capital & counties properties, the london specialist. if the deal goes ahead, csc will fund it with £750m in shares for the trafford centre, which covers 1. 9m square feet of retail space, and a further £75m cash contribution by peel in return for it receiving new shares and convertible bonds .
wherever you find an intu centre, you’ll find a vibrant focal point of the community, where people go to shop, to meet, to eat, to socialise and to be entertained – and to work. this puts us at the heart of communities, and what we do and how we behave matters .
with over £500 million of cash and available facilities, we are well positioned to take opportunities when they arise, such as the acquisition in the period of the other half of intu merry hill which adds to the considerable momentum from our active asset management and development projects, both in the uk and spain .
david fischel, chief executive of intu, said he was delighted to establish the partnership with qic at merry hill .
the transaction is a rare and attractive opportunity to acquire a further two prime shopping centres in line with our strategy to focus on the uk' s largest and most successful destinations ,
he said .
the acquisition strengthens intu' s position as the leading owner, developer and manager of prime uk shopping centres filling in gaps in our national coverage and extending the footprint of our nationwide consumer facing brand and digital strategy. we are delighted to establish a partnership with qic, a major global investor, at merry hill .
the 1. 4 million sq ft shopping centre now joins the likes of manchester' s arndale and trafford centres in the intu' s 18 million sq ft stable of retail and leisure sites, valued before today' s deal at £7. 6 billion. they include 17 of the uk' s top 25 shopping destinations .
intuit (intu) has continued to witness stable bottom - line growth in the last five quarters, buoyed by increased turbotax e - filed returns and a growing online quickbooks subscriber base. upselling has led to higher average revenue per return, boosting the company’s eps (earnings per share). us tax reform may further drive the company’s eps .
intu today announces that it has agreed terms with legal & general property to acquire midsummer place shopping centre, milton keynes (“midsummer place” or the “centre”) for a total cash consideration of £250. 5m (the “acquisition”) before expenses, representing a net initial yield of 5. 1% , based on current net rents of £13. 4m and a nominal equivalent yield of 5. 5% .
the owner of birmingham' s bullring and london' s brent cross said on wednesday its board had withdrawn its recommendation that shareholders support the all - share takeover due to heightened concerns about the british retail sector. hammerson' s announcement lifted its shares by 4. 2 percent to 514. 2 pence, but knocked intu' s down 4. 1 percent. shareholders had become concerned the deal would increase hammerson' s exposure to the british retail sector, which has been hit by weak consumer demand .
“we are delighted to announce the completion of our merger with equity one, further establishing regency centers as the preeminent national shopping center reit, ” stated martin e. “hap” stein, jr. , chairman and chief executive officer. “with a high quality portfolio of 429 properties located in many of the country’s top markets, featuring outstanding demographics, augmented by a best - in - class development and redevelopment program, we believe regency offers a unique long - term growth profile. further, as we have stated before, we expect the transaction to be accretive to core ffo per share while preserving our sector - leading balance sheet. moving ahead, we look forward to the rapid integration of the two platforms and to creating additional value for our shareholders over the quarters and years to come. ”
trafford centre set for & # 163; 1. 6bn sale to csc group
one of the uk' s biggest shopping centre is in
advanced discussions
over a £1. 6bn sale to a retail property group, marking another milestone for its billionaire owner, john whittaker .
capital shopping centres (csc) yesterday confirmed it was in talks with peel group to acquire the trafford centre near manchester. under the terms of the deal, lancashire - born mr whittaker, the chairman of peel group, would become csc' s biggest shareholder with 19. 9 per cent .
the transaction would be another landmark in an eventful year for csc, which owns 13 shopping centres including the arndale, also in manchester, and lakeside in essex .
csc values the trafford centre' s property assets at £1. 65bn, including net debt of £750m and other liabilities of £50m. this implies a net initial yield of 5. 01 per cent. the proposed acquisition price would represent a 3 per cent discount to this external valuation. mr whittaker will join the listed retail property developer' s board as a non - executive deputy chairman .
his shareholding would rise to 24. 9 per cent if he converted the convertible bonds that would form part of the deal. csc confirmed it was in
advanced discussions with peel in respect of the acquisition
, but said
there can be no certainty that any final agreement
would be reached .
the company said it was also considering a placing of 9. 9 per cent of its shares to raise funds and increase its
overall financial flexibility
and reduce its loan to value ratio to between 40 per cent and 50 per cent. following the acquisition, csc would hold four of the uk' s top six out - of - town shopping centres .
the trafford centre, which opened in 1998, attracts 35 million visitors a year. it houses 230 shops, including selfridges and marks & spencer, as well as 60 restaurants and bars. when the trafford centre finally opened after 27 months of construction, mr whittaker – who is worth $ 1. 6bn, according to forbes – abseiled into the building .
for mr whittaker – whose family hold 73 per cent of the peel group – the proposed deal with csc is the latest in a meteoric career. the peel group' s empire includes peel ports and peel airports, which holds stakes in three airports close to liverpool, durham and sheffield .
mr whittaker made his mark in the 1970s when he started acquiring industrial firms on profitable land. since he took peel private in 2004, he has also invested in industries, including sustainable energy, hotels and utilities .
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pubs, retailers and property companies continue to be the most shorted stocks in the uk stock market .
according to data explorers’ weekly top 10 shorts & squeezes, investors have spent the past month betting against a number of ftse 250 companies .
the financial data and software company provides short - side intelligence to the investment management community, offering daily long and short institutional fund flow insight. it sources its data – roughly around three million daily transactions – from investment banks, prime brokers, lending agents, beneficial owners and hedge funds .
although the likes of rok, connaught, ocado and de la rue have been dominating the headlines due to their plummeting share prices, none of those were among the top 10 shorted stocks. this begs the question whether investors are shorting the right companies. instead, they are continuing to bet against the likes of jd wetherspoon, great portland estates and liberty international .
leading up to the release of its results last week, jd wetherspoon was one of the most shorted stocks. despite announcing that its profits have increased from £45 million in 2009 to £60 million in 2010, investors remained unconvinced about its future as the bears continue to circle the beleaguered public house sector .
nigel parson, an analyst at evolution securities, downgraded the stock from buy to hold, lowering his share price target from 550p to 440p .
he said: ‘we have reduced our target price to reflect lower free cash flow from higher maintenance capital expenditure. wetherspoon is going to have to work very hard to make any progress next year .
' the stock has done little this year relative to the market and we see no change to this predicament as the stock now looks less cheap on cash terms. our 440p share price target remains based on 11% free cash flow yield. ’
despite the number of shorts, jd wetherspoon’s share price has been roughly stable at just under 440p .
likewise, liberty international – recently renamed capital shopping centres (csc) limited – and great portland estates have seen their share prices remain stable despite heavy shorting in recent weeks, hovering around 355p and 329p, respectively .
the only other two companies that were in the both the august and september top 10 most - shorted lists were colt group and mitie. the latter has seen its share price decline over the past few months, falling from around 240p in may to just below 200p .
the share price of colt, which announced during the summer it had lost its chief operating officer, has actually been increasing over the past few weeks, climbing from around 110p to more than 120p by mid - september .
however, artemis fund manager tim steer (pictured) revealed he has made ‘a lot of money’ by betting against connaught in his hedge fund. ‘i started shorting it a year ago and have ridden it all the way down. it has been the top single performer in the hedge fund, ’ he said .
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amending existing domestic abuse legislation would help advisers take action when they suspect exploitation, writes natasha turner .
retirement savers are in the firing line as the government looks for ways to uphold its nhs funding pledge .
we catch up with wealth solutions managing director simon redhead as the firm celebrates its 10th anniversary .
there are lots of ifa firms out there that specialise in specific areas of advice. have you found your niche yet ?
continuing our quarterly look at the various goings on in ifa businesses across the uk, we round up the events and occurrences that have made the pages of our magazine between april and june .
if gershom chan has a single professional regret, it might be that it took him so long to realise how rewarding a career in financial advice could be .
the pensions regulator has started to crack down on companies and directors that are breaking its rules, and new powers will hopefully give it even more courage .
foreign secretary boris johnson resigns, knocking sterling as the risk of prime minister theresa may facing a leadership challenge rises .
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randa responds to perry ellis (pery) special committee; confident shareholders understand $ 28 per share is greater than $ 27. 50 per share
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westfield is set to sell its nottingham shopping centre in a £55m deal, it has been announced .
the company which owns the rival victoria centre shopping complex in the city is set to take over westfield' s interest in broadmarsh .
capital shopping centres hopes to buy the 75% stake in the broadmarsh centre .
the deputy leader of nottingham city council said he hoped a planned expansion of the broadmarsh shopping precinct would still go ahead .
in march, westfield submitted plans to nottingham city council for a £500m expansion of the centre .
more than 6, 000 jobs were expected to be created as part of the redevelopment .
a spokeswoman for capital shopping centres (csc) said :
csc has conditionally agreed to acquire westfield group' s 75% interest in the broadmarsh shopping centre in nottingham .
westfield and csc are now in discussions with westfield' s partner, possfund, about the proposed acquisition and possfund' s intentions with respect to its 25% interest in broadmarsh .
michael gutman from westfield said :
given westfield' s strategic focus on major iconic regeneration schemes we have taken the view to withdraw from nottingham .
this will allow the city to make unfettered progress with its ambitions for regeneration, and westfield to focus on new schemes and opportunities similar to those at westfield london and more recently westfield stratford city .
the city council, which owns the broadmarsh lease, has been planning the redevelopment of the centre for almost two decades .
deputy leader graham chapman said :
the great thing about it is that we' ve got got two shopping centres and people move between the two. there is a great deal of potential down in broadmarsh .
they' ve thrown £55m at it, they' re not going to let that lie fallow and they' ve also got a couple of planning permissions so we' ve got to work on getting something out of this deal .
the foreign secretary quits, telling theresa may
needless self - doubt
is leading to
semi - brexit
.
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we own and manage some of the best shopping centres, in some of the strongest locations across the uk and spain. here' s how we got there
from investor to operator – transatlantic, makes a public offer and acquires a controlling stake in capital & counties which remains a listed company .
funded entirely by uk bank borrowings, a £20 million investment is made to acquire 14 per cent of sun life, a uk listed life insurer .
) - - regency centers corporation (nyse: reg) (“regency”) and equity one, inc. (nyse: eqy) (“equity one”) today announced the completion of their previously announced merger, whereby equity one merged with and into regency, with regency continuing as the surviving public company. the merger forms a combined company with a total market capitalization of approximately $ 16 billion. beginning march 2, 2017, regency will be a member of the s & p 500 index .
the completion of the transaction follows the satisfaction of all conditions to the closing of the merger, including receipt of approvals of the merger and other merger - related proposals by regency and equity one stockholders, which approvals were obtained on february 24, 2017 .
pursuant to the terms of the definitive merger agreement entered into by and between regency and equity one on november 14, 2016, equity one stockholders are entitled to receive 0. 45 of a newly issued share of regency common stock for each share of equity one common stock that they owned immediately prior to the effective time of the merger. the common stock of the combined company will trade under the symbol “reg” on the nyse, and the equity one common stock will be suspended from trading on the nyse effective as of the opening of trading on march 2, 2017 .
in connection with the completion of the merger, the regency board of directors has appointed joseph azrack, chaim katzman and peter linneman, former equity one directors, to serve on regency’s board. mr. katzman, the former chairman of equity one’s board, will serve as non - executive vice chairman of the regency board. regency’s current executive officers will continue to serve in their current positions .
following the merger, regency now expects the combined portfolio to produce annual same property noi growth for 2017 within a new range of 3. 0% to 3. 8% . this compares to previous guidance for regency as a stand - alone entity of 2. 25% to 3. 00% . regency expects to realize annualized cost savings of approximately $ 27 million by 2018, primarily related to the elimination of duplicative corporate and property - level operating costs. the transaction is expected to be accretive to core ffo, assuming the anticipated full cost benefits, before the positive incremental impacts of merger - related purchase accounting adjustments, and after potential dispositions. regency will update its guidance more completely when it reports first quarter 2017 results .
j. p. morgan securities llc acted as financial advisor, and wachtell, lipton, rosen & katz acted as legal advisor, to regency in connection with the merger. barclays capital inc. acted as lead financial advisor, citigroup global markets inc. acted as co - financial advisor, and kirkland & ellis llp acted as legal advisor to equity one in connection with the merger. icr, llc served as communications advisor for the transaction .
the information presented herein may contain forward looking statements within the meaning of the private securities litigation reform act of 1995 giving regency’s or equity one’s expectations or predictions of future financial or business performance or conditions. forward - looking statements are typically identified by words such as “believe, ” “expect, ” “anticipate, ” “intend, ” “target, ” “estimate, ” “continue, ” “positions, ” “prospects” or “potential, ” by future conditional verbs such as “will, ” “would, ” “should, ” “could” or “may”, or by variations of such words or by similar expressions. these forward - looking statements are subject to numerous assumptions, risks and uncertainties which change over time. forward - looking statements speak only as of the date they are made and we assume no duty to update forward - looking statements. as forward - looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements .
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with 320 million customer visits and over 30 million unique visitors a year, we are the uk' s leading specialist shopping centre owner, developer and manager. this scale and specialism gives us a unique insight into today' s consumer and what they are looking for from their shopping experience .
for retailers: higher spend both in - store and online from enhanced footfall, dwell time and customer service. effectiveness of centre - by - centre marketing spend much improved as the unified brand reduces duplication. national awareness and marketing opportunities increased
in march trafford centre will launch free wifi, followed by lakeside in april, eldon square, newcastle, in may and all centres by february 2014 .
with over half the uk population visiting our shopping centres each year, we have the scale to seize the opportunities provided by the changes in the retail marketplace. we are investing £25 million in digital infrastructure, an ecommerce website and a new brand. we very much look forward to implementing the initiatives announced today, which mark an exciting next phase in the evolution of our market - leading uk shopping centre business, to the benefit of customers, retailers, staff and investors .
at the same time the shopping centre group hailed a' strong set of results' for the first six months of the year, with rental income rising £12m to £219. 4m .
a revaluation of the site following the deal showed it was worth £35m more than expected .
the company said today :
we believe the centre presents a significant opportunity to re - engineer and update the tenant mix .
but profits for the group were down sharply in the six months to the end of june, to £48m from £262. 3m a year ago, largely due to a £131m fall in the value of financial instruments such as interest rate swaps, compared to a £162m boost from a property revaluation last year and a £32m hike from financial instruments .
chief executive david fischel said :
we are pleased to report a strong set of results for the first six months of 2016 with a 10 per cent increase in underlying earnings per share driven by excellent growth in net rental income of 7. 5 per cent on a like - for - like basis. we have therefore raised our guidance for full year like - for - like net rental income growth to 3 to 4 per cent .
letting activity was also very positive leading to an improved occupancy ratio of 96 per cent. our established retailers, such as zara and next, have been upsizing space and we have welcomed new lifestyle brands and international retailers at a time when the supply of quality retail space is limited. we continue to focus on strengthening and improving our prime regional shopping centres, introducing new leisure concepts and increasing the dwell time of our 400 million customer visits per year .
if you are searching for a job around your local area, use our online system .
donald gordon donates £ 20 million pounds to royal opera and wales millennium centre .
in 1957 donald gordon, a chartered accountant by profession, founded liberty life association of africa with initial capital of r100, 000. by the time he retired as chairman of liberty life in 1999 after 42 years in that role, the company had a stock market valuation on the johannesburg stock exchange of over rand 40 billion (£6 billion). at the time liberty life was the largest listed life company and the third largest life insurance company in south africa. liberty life was also listed on the london stock exchange. sir donald co - founded the british company abbey life insurance (abbey life), abbey life has since grown into one of the largest life companies in the uk and is now a major subsidiary of lloyds bank .
he was an active director of the guardian royal exchange group for 24 years from 1971 - 1994 as well as chairing on their behalf their south african subsidiary, guardian national insurance company for 32 years .
in 1980 liberty life created transatlantic insurance holdings plc, now liberty international plc, and since then sir donald has established the company as a £6. 2 billion (r75 billion) shopping centre and commercial real estate business. liberty international is the third largest property company by market capitalisation (£3. 2 billion / r39 billion) in the uk, with a capital investment of around £3. 8 billion (r46 billion). the assets of the liberty international group consist mainly of major shopping centres across the uk (such as lakeside shopping centre in thurrock, the metrocentre in gateshead, braehead shopping centre in glasgow and further major shopping centres in newcastle, bromley, nottingham, watford and uxbridge). liberty international became a constituent of the uk’s ftse 100 index in december 2002 and is ranked in the third quartile .
a south african by birth, donald gordon is the creator and financial benefactor of the donald gordon foundation. he has also become a benefactor of british institutions and other charities such as the royal opera house, the british museum, the welsh millennium centre, sadler’s wells and the globe theatre. following his retirement in his 70th year in 1999 as chairman of liberty life, and his retirement as chairman of liberty international at the end of june 2005, he resides in london and concentrates on the affairs of the dgf, his other philanthropic and cultural interests and his personal investments. in october 2000 at the 2000 entrepreneur of the year awards (sponsored by citibank, the times, ernst & young and vodaphone) in london sir donald received the entrepreneur of the year special award for lifetime achievement. other awards recognising his career achievements include an honorary doctorate of economic science from the university of the witwatersrand and an honorary doctorate in commerce from the university of pretoria. in december 1999 he was cited as “the achiever of the century in south african financial services” by the prestigious financial mail, the leading south african business journal and as business man of the year by the south african sunday times in 1968. in june 2005 was awarded a knighthood in recognition of his services to the arts and business .
westfield had owned the centre since 2004 following the takeover of previous owners chelsfield .
westfield group co - ceo steven lowy, said :
today' s announcement continues the strategic repositioning of the international portfolio in line with our focus on investing and operating iconic retail destinations in major world cities .
intus says the three sites will generate annual rents of £54. 9 million to £22. 6 million from merry hill alone .
today' s shoppers are a tough crowd, but once you' ve captured their loyalty they will fiercely stick by you through thick and thin. our report explores shopper behaviours and preferences and how these differ across geographies and age group .
we' re so much more than a shopping centre landlord. we' re redefining the role of shopping centres, using our scale, experience and expertise to create compelling experiences, in centre and online, to deliver real results for retailers, caterers and leisure operators .
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peel group chairman john whittaker' s gradual increase of his stake in capital shopping centres took two unusually large steps in separate transactions on monday and tuesday that saw his stake reach 24. 63% .
six hundred thousand shares were acquired through goodweather holdings, one of several vehicles that hold shares in csc on his and peel' s behalf, at an average price of £3. 45 a share .
whittaker' s previous acquisitions in the past year have been in the tens of thousands, signalling the possibility that larger shareholders are now taking advantage of the csc deputy chairman' s buying spree .
whittaker became the largest single shareholder in csc following the takeover of trafford centre in january 2011 .
csc shares were trading at 348p on wednesday, compared to a 52 - week high of 412p and a 52 - week low of 283p. (lon: cscg )
we are delighted to have agreed terms to acquire this prime asset which addresses a gap in our uk regional coverage. as well as strong current operating metrics and good demographics, midsummer place offers considerable scope for rental growth. the acquisition fits well with our strategy of focusing on the best shopping centre destinations across the country .
completion of the acquisition is expected to take place at the end of march 2013 .
the full announcement which contains the investment rationale and key facts on midsummer place and milton keynes is available for download .
over the next three years, we are spending £600 million on developing our centres in the uk to create the market - leading shopping and leisure destinations that retailers want to be in and customers want to visit .
our considered and sustained long - term investment will continue over the next 10 years with plans to invest a further £1. 9 billion, which will create thousands more new jobs in construction, retail and leisure and catering .
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intu properties plc , formerly capital shopping centres group plc , is a british real estate investment trust ( reit ) , largely focused on shopping centre management and development . originally named liberty international plc , it changed its name in may 2010 to that of its major subsidiary , capital shopping centres , after demerging its capital & counties properties business unit to form an independent business . the company owns or part-owns 18 shopping centres in the uk and one in spain . the firm 's shares are listed on the london and johannesburg stock exchanges and it is a constituent of the ftse 250 index . the company renamed itself as intu properties plc on 18 february 2013 , which was followed by the rebrand of the majority of its shopping centres under the " intu " name from may 2013 . 
intu properties plc, formerly capital shopping centres group plc, is a british real estate investment trust (reit), largely focused on shopping centre management and development. originally named liberty international plc, it changed its name in may 2010 to that of its major subsidiary, capital shopping centres, after demerging its capital & counties properties business unit to form an independent business. the company owns or part-owns 18 shopping centres in the uk and one in spain. the firm's shares are listed on the london and johannesburg stock exchanges and it is a constituent of the ftse 250 index. the company renamed itself as intu properties plc on 18 february 2013, which was followed by the rebrand of the majority of its shopping centres under the " intu " name from may 2013.
intu properties plc, formerly capital shopping centres group plc, is a british real estate investment trust (reit), largely focused on shopping centre management and development. originally named liberty international plc, it changed its name in may 2010 to that of its major subsidiary, capital shopping centres, after demerging its capital & counties properties business unit to form an independent business. the company owns or part-owns 18 shopping centres in the uk and one in spain. the firm's shares are listed on the london and johannesburg stock exchanges and it is a constituent of the ftse 250 index. the company renamed itself as intu properties plc on 18 february 2013, which was followed by the rebrand of the majority of its shopping centres under the " intu " name from may 2013.