22 May
2024
PPHE
HOTEL GROUP LIMITED
("PPHE Hotel Group" or "the Company")
Result of Annual General
Meeting
PPHE Hotel Group confirms that at
the Company's Annual General Meeting held on 22 May 2024 at 12
noon, all of the resolutions were decided on a poll and all
resolutions proposed at the Annual General Meeting were passed.
Resolutions 10 to 13 relating to the re-election of the independent
Directors were duly passed by both a majority of the votes cast by
the independent shareholders as well as by a majority of votes cast
by all shareholders. These votes have been calculated separately
and are shown below (independent shareholder votes cast being
marked ***). Resolution 18 relating to the Rule 9
Waiver was duly passed by a majority of the votes cast by the
independent shareholders only (independent
shareholder votes cast being marked ***).
The full text of each resolution was
included in the Company's Notice of Annual General Meeting (dated
13 March 2024) that was posted or e-mailed to shareholders and also
made available on the Company's website www.pphe.com. The following table shows the results of the votes
cast.
Resolution
|
Total votes cast
|
For
(*)
|
Against (*)
|
Withheld (**)
|
Number
|
%
|
Number
|
%
|
Ordinary
resolutions
|
1.
|
To receive the Annual Report and
Accounts
|
24,584,028
|
20,780,557
|
84.53%
|
3,803,471
|
15.47%
|
6,196
|
2.
|
To approve a final dividend of 20
pence per ordinary share for the year ended 31 December
2023
|
24,587,106
|
24,587,106
|
100.00%
|
0
|
0.00%
|
3,118
|
3.
|
To approve the Company's
Remuneration Report (advisory vote)
|
23,385,322
|
21,931,414
|
93.78%
|
1,453,908
|
6.22%
|
1,204,902
|
4.
|
To appoint Brightman Almagor
Zohar
& Co, a member of the Deloitte
Global Network as auditors of the Company
|
24,587,106
|
24,587,106
|
100.00%
|
0
|
0.00%
|
3,118
|
5.
|
To authorise the Directors to
determine the auditors' remuneration
|
24,587,106
|
24,564,526
|
99.91%
|
22,580
|
0.09%
|
3,118
|
6.
|
To re-elect Eli Papouchado
(Chairman)
|
24,460,207
|
22,388,280
|
91.53%
|
2,071,927
|
8.47%
|
130,017
|
7.
|
To re-elect Boris Ivesha (President
& Co-Chief Executive)
|
24,138,829
|
20,266,415
|
83.96%
|
3,872,414
|
16.04%
|
451,395
|
8.
|
To re-elect Greg Hegarty (Co-Chief
Executive)
|
24,587,106
|
20,759,690
|
84.43%
|
3,827,416
|
15.57%
|
3,118
|
9.
|
To re-elect Daniel Kos (Chief
Financial Officer)
|
24,587,106
|
20,759,692
|
84.43%
|
3,827,414
|
15.57%
|
3,118
|
10.
|
To re-elect Kenneth Bradley (Deputy
Chairman)
|
23,323,998
|
22,374,109
|
95.93%
|
949,889
|
4.07%
|
1,266,226
|
***5,842,744
|
4,892,855
|
83.74%
|
949,889
|
16.26%
|
1,266,226
|
11.
|
To re-elect Nigel Keen (Senior
Independent Director)
|
24,587,106
|
23,909,401
|
97.24%
|
677,705
|
2.76%
|
3,118
|
***7,105,852
|
6,428,147
|
90.46%
|
677,705
|
9.54%
|
3,118
|
12.
|
To re-elect Stephanie Coxon
(Non-Executive)
|
24,587,106
|
24,214,363
|
98.48%
|
372,743
|
1.52%
|
3,118
|
***7,105,852
|
6,733,109
|
94.75%
|
372,743
|
5.25%
|
3,118
|
13.
|
To re-elect Marcia Bakker
(Non-Executive)
|
24,587,106
|
24,240,082
|
98.59%
|
347,024
|
1.41%
|
3,118
|
***7,105,852
|
6,758,828
|
95.12%
|
347,024
|
4.88%
|
3,118
|
18.
|
To approve a waiver of Rule 9 of the
Takeover Code
|
***6,732,006
|
5,580,555
|
82.90%
|
1,151,451
|
17.10%
|
376,964
|
Extraordinary
resolutions
|
14.
|
To approve an authority for
Directors to allot shares
|
24,587,106
|
20,758,243
|
84.43%
|
3,828,863
|
15.57%
|
3,118
|
Special
resolutions
|
15.
|
To approve a general authority to
disapply pre-emption rights
|
24,587,106
|
20,735,237
|
84.33%
|
3,851,869
|
15.67%
|
3,118
|
16.
|
To approve a specific authority to
disapply pre-emption rights
|
24,587,106
|
20,734,056
|
84.33%
|
3,853,050
|
15.67%
|
3,118
|
17.
|
To approve an authority to purchase
own shares
|
24,587,106
|
24,281,225
|
98.76%
|
305,881
|
1.24%
|
3,118
|
19.
|
To approve amendments to the
Articles of Association
|
24,587,106
|
20,783,635
|
84.53%
|
3,803,471
|
15.47%
|
3,118
|
*Includes discretionary
votes
**A vote "Withheld" is not a vote in
law and is therefore not counted towards the proportion of votes
"For" or "Against" the resolution
*** Votes cast by independent
shareholders
The Board is pleased with the
support from shareholders for all of the resolutions proposed. The
Board notes that there is a significant minority vote against
resolutions 7 to 9 for the re-election of executive Directors of
the Company. The Company understands that a large portion of these
votes against is from overseas shareholders in jurisdictions where
it is not market practice for management to sit on the board of a
company. As a result, the internal policy of such
shareholders is to vote against resolutions for the re-election of
executive directors to the Board. The Company does not
consider that this is reflective of any failure on the part of the
Company to comply with UK Good Corporate Governance
practice.
In accordance with the Listing Rules
a copy of each of the resolutions in respect of special business of
the Company passed at the Annual General Meeting has been forwarded
to the Financial Conduct Authority and will shortly be available
for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism
Enquiries:
PPHE Hotel Group Limited
|
Tel: +31 (0)20 717 8600
|
Greg Hegarty, Co-Chief Executive
Officer & Executive Director
|
|
Daniel Kos, Chief Financial Officer
& Executive Director
|
|
Robert Henke, Executive Vice
President of Commercial Affairs
|
|
Hudson Sandler
|
Tel: +44 (0)20 7796 4133
|
Wendy Baker / Charlotte Cobb / India
Laidlaw / Eloise Fleet
|
pphe@hudsonsandler.com
|
Notes to Editors:
PPHE Hotel Group is an international
hospitality real estate company, with a £2.2 billion portfolio,
valued as at December 2023 by Savills and Zagreb nekretnine Ltd
(ZANE), of primarily prime freehold and long leasehold assets in
Europe.
Through its subsidiaries, jointly
controlled entities and associates it owns, co-owns, develops,
leases, operates and franchises hospitality real estate. Its
portfolio includes 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. The Group's strategy is to grow its portfolio of core
upper upscale city centre hotels, leisure and outdoor hospitality
and hospitality management platform.
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® branded hotels and resorts in Europe, the
Middle East and Africa. In addition, PPHE Hotel Group wholly owns,
and operates under, the art'otel® brand and its Croatian subsidiary
owns, and operates under, the Arena Hotels & Apartments® and
Arena Campsites® brands.
PPHE Hotel Group is a Guernsey
registered company with shares listed on the London Stock Exchange.
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.artotel.com
| www.radissonhotels.com
| www.arenahotels.com
| www.arenacampsites.com