Business
Notification of transfer to a Premium Listing
Notification of transfer to a Premium Listing.
About this update from Pphe Hotel Group Limited
[{"type":"text","content":"\n \nRNS Number : 9438S PPHE Hotel Group Limited 28 June 2018 \n\nTHIS ANNOUNCEMENT DOES NOT CONSTITUTE A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT AND NEITHER THIS ANNOUNCEMENT NOR ANYTHING HEREIN FORMS THE BASIS FOR ANY OFFER TO PURCHASE OR SUBSCRIBE FOR ANY ORDINARY SHARES OR OTHER SECURITIES IN THE COMPANY NOR SHALL IT FORM THE BASIS FOR ANY CONTRACT OR COMMITMENT WHATSOEVER.\n \nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\").\n \nPPHE HOTEL GROUP LIMITED\n \n \nNotification of transfer to a Premium Listing\n \nPPHE Hotel Group Limited (\"PPHE Hotel Group\" or the \"Company\" and, together with its subsidiaries the \"Group\") announces that it is proposing to transfer the listing category of its ordinary shares of nil par value (the \"Ordinary Shares\") from a Standard Listing (shares) to a Premium Listing (commercial company) on the official list of the UK Listing Authority in accordance with Rule 5.4A of the Listing Rules issued by the Financial Conduct Authority (the \"Proposed Transfer\").\n \nThe provision of 20 business days' notice (which period commenced by way of today's announcement) is required to effect the Proposed Transfer. No shareholder approval is required in connection with the Proposed Transfer. It is anticipated that the Proposed Transfer will take effect at 8.00 a.m. on 30 July 2018 (\"Admission\"), conditional on the approval of the UK Listing Authority (\"UKLA\").\nSummary and rationale\n \n· The Company's entire issued ordinary share capital was admitted to the Standard Listing segment of the Official List in June 2011\n· Since that time the Company has taken advantage of the flexible framework that has applied to it to significantly grow its operations via acquisition and development opportunities\n \nThe Company's board of directors (the \"Board\") is now of the opinion that a Premium Listing would be the most appropriate listing segment for the Company, as it believes a Premium Listing is perceived by investors to be the highest quality listing category by investors.\n \n The Board therefore believes a Premium Listing will:\n· &...