LONDON--(BUSINESS WIRE)--Elliott Advisors (UK) Limited (“Elliott”), one of the largest investors in Hammerson plc (“Hammerson”, or the “Company”), today released the following statement.
Following constructive dialogue with Hammerson’s Board, Elliott welcomes both the Board’s decision to search for two additional independent non-executive Directors, and the formation of a new Investment and Disposals Committee, with oversight and responsibility for the Company’s ongoing disposals programme. This increased focus on strategic disposals, as marked by updated targets for 2019 and a current pipeline of potential sales of over £900 million, signals a positive development in the Company’s progress, and its ability to ensure that its portfolio of high quality assets delivers compelling value for all shareholders.
Elliott looks forward to continuing to engage with the Board of Hammerson to deliver on this strategy.
Elliott Management Corporation manages two multi-strategy funds which combined have approximately $34 billion of assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds of its kind under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Management Corporation.