Business
Result of £149 million secondary placing
Result of £149 million secondary placing.
About this update from Pphe Hotel Group Limited
[{"type":"text","content":"\n \nRNS Number : 0728U PPHE Hotel Group Limited 26 March 2019 \n\nTHIS ANNOUNCEMENT IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, ISRAEL OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SHARES OR OTHER SECURITIES OF PPHE HOTEL GROUP LIMITED IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT. \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 (\"MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\nPPHE HOTEL GROUP LIMITED\n(\"PPHE Hotel Group\", the \"Group\" or the \"Company\")\nResult of £149 million secondary placing\nFurther to the announcement released this morning, the Company has been advised that Euro Plaza Holdings B.V. (\"Euro Plaza\"), Walford Investments Holdings Ltd (\"Walford\") and Aroundtown Real Estate Limited (\"Aroundtown\" and, together with Euro Plaza and Walford, the \"Sellers\") have successfully sold in aggregate 9,300,000 existing ordinary shares in the Company (the \"Placing Shares\") via an accelerated bookbuild offering at a price of 1,600 pence per share (the \"Placing\").\nfinnCap Ltd (\"finnCap\"), Joh. Berenberg, Gossler & Co. KG, London Branch (\"Berenberg\"), Numis Securities Limited (\"Numis Securities\"), Barak Capital Underwriting Ltd (\"Barak Capital\") and Orion Underwriting and Issuances Ltd (\"Orion\") acted as joint bookrunners and placing agents in relation to the Placing (the \"Joint Bookrunners\"). The Placing is expected to settle on 28 March 2019, subject to the satisfaction or waiver of certain customary conditions. \nThe Placing Shares represent in aggregate approximately 22% of the issued share capital of the Company (excluding treasury shares). Following settlement of the Placing, Euro Plaza will retain an interest in 11,537,843 ordinary shares of no par value in the Company (\"Ordinary Shares\"), representing approximately 27%...