PRESS RELEASE
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION
FOR IMMEDIATE RELEASE
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
19 March 2025
Shaftesbury Capital PLC
Response to market speculation
Shaftesbury Capital PLC (the "Company") notes recent market speculation and confirms that it is in advanced discussions with Norges Bank Investment Management ("NBIM") regarding a potential long-term partnership in relation to the Company's Covent Garden portfolio, which was independently valued at £2.7 billion as at 31 December 2024.
It is currently anticipated that such a transaction, if completed, would result in NBIM becoming a 25 per cent shareholder in the Covent Garden portfolio, acquiring the position in line with the December 2024 valuation. The Company would retain control and management of the portfolio.
The transaction would position the Company strongly to pursue further long-term value creation and growth opportunities across its portfolio.
At this stage there is no certainty that any transaction will be agreed. Further announcements will be made in due course as appropriate.
The person responsible for arranging the release of this announcement is Ruth Pavey, Company Secretary.
Enquiries:
| Shaftesbury Capital PLC | | +44 (0)20 3214 9150 |
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| Ian Hawksworth | Chief Executive |
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| Situl Jobanputra | Chief Financial Officer | |
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| Sarah Corbett | Director of Commercial Finance and Investor Relations | |
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About Shaftesbury Capital
Shaftesbury Capital PLC ("Shaftesbury Capital") is the leading central London mixed-use REIT and is a constituent of the FTSE-250 Index. Our property portfolio, valued at £5.0 billion at 31 December 2024, extends to 2.7 million square feet of lettable space across the most vibrant areas of London's West End. With a diverse mix of shops, restaurants, cafés, bars, residential and offices, our destinations include the high footfall, thriving neighbourhoods of Covent Garden, Carnaby, Soho and Chinatown. Our properties are close to the main West End Underground stations and transport hubs for the Elizabeth Line. Shaftesbury Capital shares are listed on the London Stock Exchange ("LSE") (primary) and the Johannesburg Stock Exchange ("JSE") (secondary) and the A2X (secondary).
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