Response to announcement
PPHE confirms no offer received but enters offer period after shareholders announce investor meetings regarding options.
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THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY OFFER WILL BE MADE
PPHE Hotel Group Limited
Response to announcement by Eli Papouchado and Boris Ivesha (the "Shareholders")
PPHE Hotel Group Limited ("PPHE" or the "Company") notes the announcement by the Shareholders in response to media speculation regarding their intention to hold a small handful of meetings with potential investors in relation to a range of potential options.
PPHE confirms that it is not in receipt of any offer, and there can be no certainty that any such offer will be made.
As noted in the announcement made by the Shareholders, as a consequence of that announcement, PPHE is now considered to be in an "offer period" as defined in the Code, and the attention of shareholders is drawn to the disclosure requirements of Rule 8 of the Code, which are summarised below.
Additional Information
J.P. Morgan Securities plc, which conducts its UK investment banking business as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"), and which is authorised in the United Kingdom by the Prudential Regulation Authority (the "PRA") and regulated by the PRA and the Financial Conduct Authority, is acting as financial adviser exclusively for PPHE and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the with the matters set out in this announcement and will not be responsible to anyone other than PPHE for providing the protections afforded to clients of J.P. Morgan Cazenove or its affiliates, nor for providing advice in relation to the with the matters set out in this announcement.
Rule 2.9 information
Pursuant to Rule 2.9 of the Code, PPHE confirms that there are 44,347,410 ordinary shares of no par value each ("Shares") in issue (including 2,491,086 Shares held in treasury) with International Securities Identification Number GG00B1Z5FH87.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.