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 Executive Officer and Chief Financial Officer |
Tel: +44 (0)20 7034 4800 |
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® Hotels & Resorts and art'otel®. The group has an exclusive licence from Carlson, a global privately held hospitality and travel company, to develop and operate Park Plaza® Hotels & Resorts in Europe, the Middle East and Africa. The art'otel® 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.
