26 May 2017
THIS RELEASE (AND THE INFORMATION CONTAINED HEREIN) IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA (THE "UNITED STATES"), AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE UNLAWFUL OR WHICH WOULD REQUIRE ANY REGISTRATION OR LICENSING WITHIN SUCH JURISDICTION OR TO ANY OTHER PERSON. THIS RELEASE (AND THE INFORMATION CONTAINED HEREIN) DOES NOT CONTAIN OR CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO PURCHASE ANY SECURITIES IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION OR OFFER IS UNLAWFUL.
This announcement is not a prospectus within the meaning of directive 2003/71/EC (the Prospectus Directive). Investors should not purchase any transferable securities referred to in this announcement except on the basis of information in the prospectus (the "Prospectus") published by Arena Hospitality Group d.d. in connection with the conducted public offering and the proposed admission of its ordinary registered shares to the Official List of the Zagreb Stock Exchange. The Prospectus is available on Arena Hospitality Group d.d.'s website at www.arenaturist.com, subject to applicable securities laws.
PPHE Hotel Group Limited (the "Company")
Successful completion of public offering by Arena Hospitality Group d.d.
PPHE Hotel Group Limited, which together with its subsidiaries (the "Group") owns, leases, develops, operates and franchises full service upscale, upper upscale and lifestyle hotels in major gateway cities, regional centres and select resort destinations, predominantly in Europe, is pleased to announce that its 77.09% owned subsidiary, Arena Hospitality Group d.d ("Arena") has today announced the successful completion of its public offering of shares (the "Offering"), raising HRK788,362,675 (€105,820,493) of new capital (before expenses).
Pursuant to Arena's announcement on 12 May 2017, the Offering consisted of 1,854,971 new ordinary shares ("Shares") to be issued to investors at a price per Share equal to HRK425 (the "Final Price"). The Shares are expected to be listed, and to commence trading on, the Official Market of the Zagreb Stock Exchange on or around 6 June 2017.
As part of the Offering, the Group will be issued 141,883 Shares at the Final Price (the "New PPHE Shares"). The aggregate value of the New PPHE Shares is HRK60,300,275 (€8,093,996) which is lower than the subscription amount previously applied for by the Group (as announced by the Company on 15 May 2017). Following the issuance of the New PPHE Shares, the Group will continue to hold a controlling interest in Arena of 51.97% of the issued share capital of Arena.
Commenting on the completion of the Offering, Boris Ivesha, President & Chief Executive Officer of the Group, said:
"We are pleased with this important milestone in the history of our Group. The new capital raised by Arena will enable the acceleration of the investment plan aimed at upgrading existing properties and realise further growth for our Group in Central and Eastern Europe through Arena. We would like to thank all stakeholders for their confidence in Arena's Offering and we welcome Arena's new investors who will become part of our growth story."
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
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 / Jocelyn Spottiswoode |
Tel: +44 (0)20 7796 4133 |
Notes to editors
The Company is a Guernsey registered company and through its subsidiaries, jointly controlled entities and associates, owns, leases, operates, franchises and develops full-service upscale, upper 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 the Park Plaza® Hotels & Resorts or art'otel® brands. The Group has an exclusive licence from Carlson Hotels Worldwide Inc., one of the world's largest hotel groups, to develop and operate Park Plaza® Hotels & Resorts in Europe, the Middle East and Africa.
The art'otel® brand is wholly owned by the Group.
The Group has a controlling ownership interest (77.09% of the share capital) in Arena Hospitality Group, one of Croatia's best-known hospitality groups.
The Group's portfolio of owned, leased, managed and franchised hotels comprises 39 hotels offering a total of approximately 9,000 rooms. The Group's development pipeline includes two new hotels, which are expected to add an additional 500 rooms by the end of 2019.
Our Company:
www.pphe.com
Our Brands:
www.parkplaza.com
www.artotels.com
www.arenaturist.com
For images and logos visit www.vfmii.com/parkplaza
The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state, and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state laws. No public offering of securities will be made in the United States. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada, Japan, New Zealand or the Republic of South Africa, or for the account or benefit of, any national, resident or citizen of Australia, Canada, Japan, New Zealand or the Republic of South Africa.
