Business
Amendment of Shareholders Agreement
Amendment of Shareholders Agreement.
About this update from Pphe Hotel Group Limited
[{"type":"text","content":"\n \nRNS Number : 4768I PPHE Hotel Group Limited 09 August 2019 \n\n \n \n \n9 August 2019\n \nPPHE Hotel Group Limited\n(the \"Company\")\n \nAmendment of Shareholders Agreement\n \nFurther to the announcement of the Company's transfer to a premium listing released on 28 June 2018 (the \"Announcement\"), the Company announces that the Red Sea Parties and the Ivesha Parties have amended certain terms of the existing Shareholders Agreement, so that for so long as, inter alia, the combined interests of the Ivesha Parties and the Red Sea Parties in the Company are not less than 30% and the Red Sea Parties' interest in the Company is at least 20% of the total number of ordinary shares in the share capital of the Company (\"Ordinary Shares\") then in issue (excluding, in both cases, Ordinary Shares held in treasury), (i) on any resolution to be considered at a general meeting of the shareholders of the Company, all Ordinary Shares held by the Ivesha Parties shall be voted in a manner which is consistent with the votes cast by, or on behalf of, the Red Sea Parties in respect of that resolution and (ii) the Ivesha Parties shall not transfer to a third party any Ordinary Shares held by them without the prior written consent of Red Sea Parties, subject to certain exceptions. In addition, the Red Sea Parties no longer require the prior written consent of the Ivesha Parties to transfer any Ordinary Shares held by them to a third party. \nCapitalised terms used but not defined in this announcement shall have the meanings given to such terms in the Announcement.\nEnquiries:\n \n\n\n\nPPHE Hotel Group Limited \n\n\n\n\n\n\n\nDaniel Kos, Chief Financial Officer & Executive Director \n \nRobert Henke, Executive Vice President of Corporate Affairs\n\n\nTel: +31 20 717 8600\n \n \n\n\n\n\n \nTulchan\n \n\n\n\n\n\n\n\nDavid Allchurch / Will Palfreyman\n\n\n0207 353 4200\n\n\n\n \nNotes to editors\n \nPPHE Hotel Group Limited, is an international hospitality real estate company, with a £1.6 billion portfolio (valued as at summer of 2018) of primarily prime freehold and long leasehold assets in Europe.\n \nPPHE Hotel Group's guiding principle is to generate attractive returns from operations and long-term capital appreciation.\n \nThroug...