Exercise of options

RNS Number : 3481K

PPHE Hotel Group Limited

20 September 2016

 

20 September 2016

PPHE Hotel Group Limited

(the "Company")

Exercise of options

The Company announces that on 19 September 2016, the board of directors of the Company approved the issue and allotment of 6,350 ordinary shares of no par value each ("Shares") in order to satisfy an exercise of the equivalent number of share options held by an employee of the Company (the "Options"). The Options, which were exercised at an exercise price of £1.00 each, were awarded under the Company's share option plan on 27 September 2007.

An application has been made for the Shares to be admitted to the Official List of the UKLA and to trading on the London Stock Exchange's main market for listed securities ("Admission").  Admission is expected to take place on 23 September 2016.

The issue and allotment of the Shares is conditional on Admission. Once issued, the Shares will rank pari passu with the Company's existing Shares.

From 23 September 2016, the total number of Shares in issue will be 44,065,862 of which 1,862,000 Shares are held in treasury. Each Share carries the right to one vote and therefore, the total number of voting rights in the Company will be 42,203,862.

The above figures may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the Disclosure Rules and Transparency Rules. Any changes to the above expectation will be announced to the market as required.

Enquiries:

PPHE Hotel Group Limited
Chen Moravsky, Deputy Chief Executive Officer and Chief Financial Officer	Tel: [phone]
Hudson Sandler Financial Public Relations
Wendy Baker / Katie Cohen	Tel: [phone]

 

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