PPHE Hotel Group Limited Amendment of Shareholders Agreement (4768I)
August 09 2019 - 1:00AM
UK Regulatory
TIDMPPH
RNS Number : 4768I
PPHE Hotel Group Limited
09 August 2019
9 August 2019
PPHE Hotel Group Limited
(the "Company")
Amendment of Shareholders Agreement
Further to the announcement of the Company's transfer to a
premium listing released on 28 June 2018 (the "Announcement"), the
Company announces that the Red Sea Parties and the Ivesha Parties
have amended certain terms of the existing Shareholders Agreement,
so that for so long as, inter alia, the combined interests of the
Ivesha Parties and the Red Sea Parties in the Company are not less
than 30% and the Red Sea Parties' interest in the Company is at
least 20% of the total number of ordinary shares in the share
capital of the Company ("Ordinary Shares") then in issue
(excluding, in both cases, Ordinary Shares held in treasury), (i)
on any resolution to be considered at a general meeting of the
shareholders of the Company, all Ordinary Shares held by the Ivesha
Parties shall be voted in a manner which is consistent with the
votes cast by, or on behalf of, the Red Sea Parties in respect of
that resolution and (ii) the Ivesha Parties shall not transfer to a
third party any Ordinary Shares held by them without the prior
written consent of Red Sea Parties, subject to certain exceptions.
In addition, the Red Sea Parties no longer require the prior
written consent of the Ivesha Parties to transfer any Ordinary
Shares held by them to a third party.
Capitalised terms used but not defined in this announcement
shall have the meanings given to such terms in the
Announcement.
Enquiries:
PPHE Hotel Group Limited
Daniel Kos, Chief Financial Officer & Executive Tel: +31 20 717
Director 8600
Robert Henke, Executive Vice President of Corporate
Affairs
Tulchan
David Allchurch / Will Palfreyman 0207 353 4200
Notes to editors
PPHE Hotel Group Limited, is an international hospitality real
estate company, with a GBP1.6 billion portfolio (valued as at
summer of 2018) of primarily prime freehold and long leasehold
assets in Europe.
PPHE Hotel Group's guiding principle is to generate attractive
returns from operations and long-term capital appreciation.
Through its subsidiaries, jointly controlled entities and
associates it owns, co-owns, develops, leases, operates and
franchises hospitality real estate. Its primary focus is
full-service upscale, upper upscale and lifestyle hotels in major
gateway cities and regional centres, as well as hotel, resort and
campsite properties in select resort destinations.
PPHE Hotel Group benefits from having an exclusive and perpetual
licence from the Radisson Hotel Group, one of the world's largest
hotel groups, to develop and operate Park Plaza(R) branded hotels
and resorts in Europe, the Middle East and Africa. In addition,
PPHE Hotel Group wholly owns, and operates under, the art'otel(R)
brand and its Croatian subsidiary owns, and operates under, the
Arena Hotels & Apartments(R) and Arena Campsites(R) brands.
This multi-brand approach enables PPHE Hotel Group to develop and
operate properties across several segments of the hospitality
market.
PPHE Hotel Group is one of the largest owner/operators of hotels
in central London and its property portfolio comprises of 38 hotels
and resorts in operation, offering a total of approximately 8,800
rooms and 8 campsites, offering approximately 6,000 units. PPHE
Hotel Group's development pipeline includes two new hotels in
London and one in New York City which are expected to add an
additional 600 rooms by the end of 2022/2023.
PPHE Hotel Group is a Guernsey registered company with shares
listed on the London Stock Exchange and a constituent of the FTSE
250. PPHE Hotel Group also holds a controlling ownership interest
in Arena Hospitality Group, whose shares are listed on the Prime
market of the Zagreb Stock Exchange.
Company websites:
www.pphe.com
www.arenahospitalitygroup.com
For reservations:
www.parkplaza.com
www.artotels.com
www.arenahotels.com
www.arenacampsites.com
For images and logos visit www.vfmii.com/parkplaza
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Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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