PPHE Hotel ( (GB:PPH) ) has shared an announcement.
PPHE Hotel Group has announced the posting of its Annual General Meeting (AGM) notice and a proposed Rule 9 Waiver. The AGM will be held on 21 May 2025, where shareholders will consider a resolution to waive the mandatory offer provisions of Rule 9 of the Takeover Code, allowing the company to repurchase shares without triggering a mandatory offer. This move is intended to provide flexibility for share buy-backs, potentially increasing earnings per share and benefiting shareholders. The Rule 9 Waiver is crucial as the Concert Party, holding 43.97% of the company’s shares, could see its stake increase to 46.28% without a mandatory offer if the waiver is granted.
More about PPHE Hotel
PPHE Hotel Group is an international hospitality real estate company with a portfolio valued at £2.2 billion as of December 2024. The company primarily focuses on prime freehold and long leasehold assets in Europe, operating upscale and lifestyle hotels in major cities and resort destinations. PPHE holds an exclusive license from Radisson Hotel Group to develop Park Plaza® branded hotels in Europe, the Middle East, and Africa, and also operates under the art’otel® and Arena Hotels & Apartments® brands. The company is registered in Guernsey and listed on the London Stock Exchange.
YTD Price Performance: -15.25%
Average Trading Volume: 23,329
Technical Sentiment Signal: Buy
Current Market Cap: £500M
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