Result of AGM

RNS Number : 8125L

PPHE Hotel Group Limited

17 May 2022

 

17 May 2022

PPHE Hotel Group Limited

("PPHE Hotel Group" or the "Company")

Result of Annual General Meeting

PPHE Hotel Group confirms that at the Company's Annual General Meeting held at 12 noon on 17 May 2022, all of the resolutions were decided on a poll and all resolutions proposed at the Annual General Meeting were passed. Resolutions 10 to 12 relating to the re-election of the independent Directors were duly passed by both a majority of the votes cast by the independent shareholders as well as by a majority of votes cast by all shareholders. These votes have been calculated separately and are shown below (independent shareholder votes cast being marked ***). Resolution 18 relating to the Rule 9 Waiver was duly passed by a majority of the votes cast by the independent shareholders only (independent shareholder votes cast being marked ***).

The full text of each resolution was included in the Company's Notice of Annual General Meeting (dated 28 February 2022) and Supplemental to the Notice of Annual General Meeting (dated 25 April 2022) that were posted or e-mailed to shareholders and also made available on the Company's website www.pphe.com . The following table shows the results of the votes cast.

Resolution		Total votes cast	For (*)		Against (*)		Withheld (**)
			Number	%	Number	%
Ordinary resolutions
1.	To receive the Annual Report and Accounts	21,892,553	21,892,553	100%	0	0.00%	5,523
2.	To  approve the Company's Remuneration Report (advisory vote)	21,892,553	20,382,563	93.10%	1,509,990	6.90%	5,523
3.	To approve the Company's Remuneration Policy (advisory vote)	21,892,553	20,382,563	93.10%	1,509,990	6.90%	5,523
4.	To re-appoint Kost Forer Gabbay & Kasierer, a member of Ernst & Young Global, as auditors of the Company	21,892,553	21,851,445	99.81%	41,108	0.19%	5,523
5.	To authorise the Directors to determine the auditors' remuneration	21,892,553	21,892,460	99.99%	93	0.01%	5,523
6.	To re-elect Eli Papouchado as a Director of the Company	21,851,538	21,060,214	96.38%	791,324	3.62%	46,538
7.	To re-elect Boris Ivesha as a Director of the Company	21,892,552	21,639,177	98.84%	253,375	1.16%	5,524
8.	To re-elect Daniel Kos as a Director of the Company	21,892,553	21,892,460	99.99%	93	0.01%	5,523
9.	To re-elect Kevin McAuliffe as a Director of the Company	20,362,215	19,957,310	98.01%	404,905	1.99%	1,535,861
10.	To re-elect Ken Bradley as a Director of the Company	21,397,384	20,443,193	95.54%	954,191	4.46%	500,692
		***3,022,567	2,068,376	68.43%	954,191	31.57%	500,682
11.	To re-elect Nigel Keen as a Director of the Company	21,892,552	21,323,596	97.40%	568,956	2.60%	5,524
		***3,517,735	2,948,779	83.83%	568,956	16.17%	5,524
12.	To re-elect Stephanie Coxon as a Director of the Company	21,892,553	21,609,781	98.71%	282,772	1.29%	5,523
		***3,517,736	3,234,964	91.96%	282,772	8.04%	5,523
Extraordinary resolution
13.	Authority for Directors to allot shares	21,892,553	21,876,759	99.93%	15,794	0.07%	5,523
Special resolutions
14.	General authority to disapply pre-emption rights	21,892,552	21,625,127	98.78%	267,425	1.22%	5,524
15.	Additional authority to disapply  pre-emption rights	21,892,553	21,878,410	99.94%	14,143	0.06%	5,523
16.	Authority to purchase own shares	21,892,553	21,795,472	99.56%	97,081	0.44%	5,523
17.	Amendment to the Company's articles of incorporation	21,892,553	21,892,127	99.99%	426	0.01%	5,523
Ordinary resolution
18.	Waiver granted by the Takeover Panel to Rule 9 of the Takeover Code (Rule 9 Waiver)	***2,981,553	2,484,151	83.32%	497,402	16.68%	541,706

*Includes discretionary votes

**A vote "Withheld" is not a vote in law and is therefore not counted towards the proportion of votes "For" or "Against" the resolution

*** Votes cast by independent shareholders

The Board is pleased with the support from shareholders for the majority of the resolutions, but notes the minority votes (representing 31.57% of independent votes), against resolution 10: the re-appointment of Mr Ken Bradley. The Board takes the views of its shareholders seriously and the Company intends to engage with shareholders to better understand their concerns with a view to identifying how such concerns can be addressed. The Board looks forward to engaging with shareholders and an update on the results of this engagement and the actions to be taken will be published in due course.

In accordance with the Listing Rules a copy of each of the resolutions in respect of special business of the Company passed at the Annual General Meeting has been forwarded to the Financial Conduct Authority and will shortly be available for inspection at:  https://data.fca.org.uk/#/nsm/nationalstoragemechanism

A copy of the Company's new articles of incorporation, as adopted at the Annual General Meeting, has also been submitted to the National Storage Mechanism in line with Listing Rule 9.2.6ER(2)(a) and is available for viewing at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism

Enquiries:

PPHE Hotel Group Limited
Daniel Kos, Chief Financial Officer & Executive Director
Robert Henke Executive Vice President of Commercial Affairs	Tel: [phone]
Hudson Sandler
Lucy Wollam Charlotte Cobb Nick Moore	Tel: [phone] Email: [e-mail]

Notes to Editors

PPHE Hotel Group is an international hospitality real estate company, with a 1.8 billion portfolio, valued as at December 2021 by Savills and Zagreb nekretnine Ltd (ZANE), of primarily prime freehold and long leasehold assets in Europe.

Through its subsidiaries, jointly controlled entities and associates it owns, co-owns, develops, leases, operates and franchises hospitality real estate. Its portfolio includes 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. The Group's strategy is to grow its portfolio of core upper upscale city centre hotels, leisure and outdoor hospitality and hospitality management platform.

PPHE Hotel Group benefits from having an exclusive and perpetual licence from the Radisson Hotel Group, one of the world's largest hotel groups, to develop and operate Park Plaza® branded hotels and resorts in Europe, the Middle East and Africa. In addition, PPHE Hotel Group wholly owns, and operates under, the art'otel® brand and its Croatian subsidiary owns, and operates under, the Arena Hotels & Apartments® and Arena Campsites® brands.

PPHE Hotel Group is a Guernsey registered company with shares listed on the London Stock Exchange. PPHE Hotel Group also holds a controlling ownership interest in Arena Hospitality Group, whose shares are listed on the Prime market of the Zagreb Stock Exchange.

Company websites

www.pphe.com
www.arenahospitalitygroup.com

For reservations

www.parkplaza.com

www.artotel.com

www.arenahotels.com

www.arenacampsites.com

 

END

 

 

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