Elegant Hotels Group PLC Statement re press speculation (2213Y)
04 December 2017 - 6:00PM
UK Regulatory
TIDMEHG
RNS Number : 2213Y
Elegant Hotels Group PLC
04 December 2017
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 OF THAT
JURISDICTION
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
For Immediate Release
4 December 2017
Elegant Hotels Group plc ("Elegant Hotels" or the "Company")
Confirmation of approach for Elegant Hotels Group plc and
Termination of Talks
The Board of Elegant Hotels notes the recent press speculation
concerning the possibility of an offer being made for Elegant
Hotels.
The Board of Elegant Hotels announces that it had received an
approach from Melia Hotels International SA "Melia Hotels" relating
to a possible all cash offer for all of the issued and to be issued
share capital of the Company which may be made by Melia Hotels or
one of its investment affiliates. The Company further announces
that discussions with Melia Hotels have now been terminated, and
that Melia Hotels does not intend to make an offer to acquire the
entire issued and to be issued ordinary share capital of Elegant
Hotels.
This announcement is made in accordance with Rule 2.8 of the
Code. As a result of this announcement, Melia Hotels will, except
with the consent of the UK Panel on Takeovers and Mergers, be bound
by the restrictions contained in Rule 2.8 of the Code.
Rule 26.1 disclosure
In accordance with Rule 26.1 of the Code, a copy of this
announcement will be available at www.eleganthotelsgroup.com no
later than 12 noon (London time) on 4 December 2017.
The content of the website referred to in this announcement is
not incorporated into and does not form part of this
announcement.
Enquiries
Zeus Capital Limited (NOMAD and Joint Broker)
Dan Bate / Andrew Jones / John Goold +44 (0) 203 829 5000
Liberum Capital Limited (Joint Broker)
Clayton Bush / Chris Clarke / Dominik Götzenberger +44 (0) 203
100 2222
Powerscourt
Rob Greening / Lisa Kavanagh +44 (0) 207 250 1446
Notes to Editors:
Elegant Hotels owns and operates seven luxury hotels and a
beachfront restaurant, Daphne's, on the island of Barbados. The
Group's portfolio currently comprises 588 rooms, making it twice as
large (by room number) as the closest competitor in the Barbados
luxury hotel room market.
Six of the seven properties are situated along the prestigious
west coast of Barbados commonly known as the "Platinum Coast". The
properties are all freehold, with a total aggregate plot size of
approximately 23 acres and an aggregate beachfront of 2,600 feet.
Together, the Group's seven existing hotels - Colony Club,
Tamarind, The House, Crystal Cove, Turtle Beach, Waves Hotel &
Spa and Treasure Beach - offer styles encompassing classic and
contemporary, family friendly and adults-only.
Investor website: http://www.eleganthotelsgroup.com/
Commercial website: http://www.eleganthotels.com/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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