PPHE Hotel Group Limited Notification on the Admission (3645P)
17 November 2016 - 1:03AM
UK Regulatory
TIDMPPH
RNS Number : 3645P
PPHE Hotel Group Limited
16 November 2016
16 November 2016
PPHE Hotel Group Limited
("PPHE Hotel Group" or the "Company")
Notification on the Admission of Arenaturist d.d
("Arenaturist")
to the Official Market of Zagreb Stock Exchange
Further to the majority shareholders' intention disclosed in the
Takeover Bid, published on 29 March 2016 and following
Arenaturist's Management Board's decision on 15 November 2016,
Arenaturist, in which the Company owns 65.63% of the share capital,
announces that today it has applied for admission of its shares
(ARNT-R-A, ISIN: HRARNTRA0004) to the Official Market of the Zagreb
Stock Exchange. Arenaturist's shares are currently traded on the
Regular Market of the Zagreb Stock Exchange.
This transition follows the acquisition of the majority stake in
Arenaturist by Euro Sea Hotels N.V., a member of PPHE Hotel Group,
earlier this year. Furthermore, it is in line with the Company's
strategic plans to develop Arenaturist into a substantial Central
and Eastern European leisure and hospitality company with a unique
business model that would entail owning and managing its own assets
and those of others primarily under the Park Plaza brand.
Arenaturist's Executive Board believes that a higher market segment
on the Zagreb Stock Exchange would be appropriate for its new
strategy and position as a growing hotel operator. This is a
significant step for Arenaturist, especially in terms of
continuance of the implementation of higher corporate governance
and investor relation standards that should raise its profile among
domestic and international investors and provide greater
flexibility for growth. Furthermore, the transition to the Official
Market should enhance liquidity in Arenaturist's shares and provide
it with exposure to a wider investor base.
The shares will be admitted to the Official Market following the
approval of the Zagreb Stock Exchange.
Enquiries:
PPHE Hotel Group Limited
Chen Moravsky, Deputy Chief Tel: +44 (0)20
Executive Officer and Chief 7034 4800
Financial Officer
Hudson Sandler Financial
Public Relations
Wendy Baker / Sophie Lister Tel: +44 (0)20
7796 4133
Notes to editors
PPHE Hotel Group Limited is a Guernsey registered company and
through its subsidiaries, jointly controlled entities and
associates, owns, leases, operates, franchises and develops full
service upscale and lifestyle hotels in major gateway cities,
regional centres and select resort destinations, predominantly in
Europe.
The majority of the group's hotels operate under two distinct
brands, Park Plaza(R) Hotels & Resorts and art'otel(R). The
group has an exclusive licence from Carlson, a global privately
held hospitality and travel company, to develop and operate Park
Plaza(R) Hotels & Resorts in Europe, the Middle East and
Africa. The art'otel(R) brand is fully owned by the group.
The group also owns a controlling interest in the Arenaturist
group, one of Croatia's leading hospitality companies.
The portfolio of owned, leased, managed and franchised hotels
comprises 38 hotels in operation offering a total of nearly 8,400
rooms. The development pipeline includes four new hotel projects
and one hotel extension and reconfiguration. These developments are
expected to add over 800 rooms to our portfolio by the end of 2016
and an additional 500 rooms by the end of 2019.
Our Company:
www.pphe.com
Our Hotel Brands:
www.parkplaza.com
www.artotels.com
www.arenaturist.com
For images and logos visit www.vfmii.com/parkplaza
Forward-looking statements
This announcement may contain certain "forward-looking
statements' which reflect the Company's and/or the Directors'
current views with respect to financial performance, business
strategy and future plans, both with respect to the group and the
sectors and industries in which the group operates. Statements
which include the words "expects", "intends", "plans", "believes",
"projects", "anticipates", "will", "targets", "aims", "may",
"would", "could", "continue" and similar statements are of a future
or forward-looking nature. All forward-looking statements address
matters that involve risks and uncertainties. Accordingly, there
are or will be important factors that could cause the group's
actual results to differ materially from those indicated in these
statements. Any forward-looking statements in this announcement
reflect the group's current views with respect to future events and
are subject to risks, uncertainties and assumptions relating to the
group's operations, results of operations and growth strategy.
These forward-looking statements speak only as of the date of this
announcement. Subject to any legal or regulatory obligations, the
Company undertakes no obligation publicly to update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise. All subsequent written and oral
forward-looking statements attributable to the group or individuals
acting on behalf of the group are expressly qualified in their
entirety by this paragraph. Nothing in this announcement should be
considered as a profit forecast.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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