Retail landlord Hammerson has made the decision to hold its annual general meeting (AGM) virtually on April 28, in response to the UK government’s restrictions on non-essential travel and gatherings of more than two people, which are aimed at curbing the spread of the coronavirus. Hammerson, known for its ownership of popular shopping destinations including Brent Cross, Grand Central, and the Bullring, is also taking further measures to address the impact of Covid-19.

As part of its efforts to protect liquidity and navigate the uncertainties surrounding the pandemic, Hammerson has announced the cancellation of pay increases for its board and executive directors. This move follows similar actions taken by commercial property operators across the industry. With the exception of essential retail stores like pharmacies and food shops, all 12 Hammerson shopping centers in the UK have temporarily closed, reflecting the significant impact of the pandemic on the retail sector.

The decision to hold the AGM virtually ensures the safety of shareholders during this challenging time, as they will have the opportunity to attend and participate remotely. More details about the event will be provided in the coming days as final arrangements are made.

Useful links:
1. Hammerson official website
2. UK government guidance on coronavirus