Statement re Press Comment
Eli Papouchado and Boris Ivesha, who collectively own approximately 44% of PPHE Hotel Group's voting rights, are exploring potential options including growth capital contributions or a partial monetisation of their stakes, following media speculation. They are not currently in discussions or in receipt of any offer, and there is no certainty an offer will be made. This announcement, made without PPHE's knowledge, triggers an "offer period" under the City Code on Takeovers and Mergers, requiring specific disclosure obligations for relevant parties.
Select text to share a quote on X · sign in to keep highlights & notes in your PPH notes
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
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Eli Papouchado and Boris Ivesha
Response to media speculation in relation to PPHE Hotel Group
Eli Papouchado and Boris Ivesha (the "Shareholders"), who collectively own c.44% of the voting rights of PPHE Hotel Group Limited ("PPHE"), note the recent media speculation and confirm that they intend to hold a small handful of meetings with financial investors in relation to a range of potential options, from contributing growth capital to PPHE, to a potential partial monetisation of their stakes in PPHE.
The Shareholders are not in discussions with any parties, and are not in receipt of any offer for their collective stake in PPHE. There can be no certainty that any such offer will be made.
This announcement is being made without the knowledge of PPHE.
As a consequence of this 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.
A further announcement will be made when appropriate.
Additional Information
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.