Business
Transfer of Arena to Prime Market of the ZSE
Transfer of Arena to Prime Market of the ZSE.
About this update from Pphe Hotel Group Limited
[{"type":"text","content":"\n \nRNS Number : 0437L PPHE Hotel Group Limited 20 December 2018 \n\n \n \n \n \n \n20 December 2018\nPPHE Hotel Group Limited\n(\"PPHE Hotel Group\" or the \"Company\")\n \nTransfer of Arena Hospitality Group to the Prime Market of the Zagreb Stock Exchange and Notice of Arena's Dividend Policy \n \n \nPPHE Hotel Group, an international hospitality real estate group, announces that its 51.97% owned subsidiary, Arena Hospitality group d.d. (\"Arena\"), has today transferred its shares from the Official Market to the Prime Market of the Zagreb Stock Exchange (the \"Transfer\"). \n \nAlongside the Transfer Arena has published its dividend policy, a copy of which can be found on Arena's website at www.arenahospitalitygroup.com\n \nPPHE Hotel Group's dividend policy remains unchanged. \n \nBoris Ivesha, President & Chief Executive Officer of PPHE Hotel Group commented: \n\"The Prime Market of the Zagreb Stock Exchange requires companies to adhere to best market practice and Arena's successful Transfer reflects the Group's commitment to business excellence and corporate governance. Alongside the Transfer, Arena has formalised its dividend policy. Whilst the retention of profits for investment remains Arena's priority, at this stage of Arena's growth we are supportive of the fact that a dividend distribution should be considered in 2020.\"\n \nEnquiries:\n\n\n\nHudson Sandler (Financial Public Relations)\n\n\n\n\n\n\n\nWendy Baker/ Sophie Lister\n\n\nTel: +44 (0)20 7796 4133\[email protected]\n\n\n\n \nNotes to editors\nPPHE Hotel Group Limited ('PPHE' or the 'Group') is an international hospitality real estate company, with a £1.6 billion portfolio of primarily prime freehold and long leasehold assets in Europe. The Group's guiding principle is to generate attractive returns from operations and long-term capital appreciation. \nThrough its subsidiaries, jointly controlled entities and associates it owns, co-owns, develops, leases, operates and franchises hospitality real estate. Its primary focus is full-service upscale, upper upscale and lifestyle hotels in major gateway cities and regional centres, as well as hotel, resort and campsite properties in select resort destinations. \nThe Group benefits from having an exclusive and perpetual licence f...