Exercise of Options

RNS Number : 7148I

PPHE Hotel Group Limited

27 March 2015

 

27 March 2015

PPHE Hotel Group Limited

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

Exercise of options

The Company announces that Mr Chen Moravsky, Deputy Chief Executive Officer and Chief Financial Officer has today exercised options over 92,727 ordinary shares of no par value at an exercise price of 100 pence each and 140,000 ordinary shares of no par value at an exercise price of 233.5 pence each. The options were granted under the Company's share option plan on 27 September 2007 and 15 November 2012 respectively.

The Company also announces that Mr Abraham Thomas (a person discharging managerial responsibility as defined under the Financial Services and Markets Act 2000) a retiring employee of the Company has exercised options, granted under the Company's share option plan on 27 September 2007, over 10,650 ordinary shares of no par value at an exercise price of 100 pence each (together with the 232,727 options being exercised by Mr Moravsky being the "Options").

In order to satisfy the exercise of the Options, the Board has approved (subject to payment of the exercise monies and admission to the Official List of the UKLA and to trading on the London Stock Exchange's main market for listed securities) the issue and allotment of 243,377 ordinary shares of no par value each (the "Shares").

Once issued, the Shares will rank pari passu with the Company's existing Shares. Applications have 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 for 10,650 Shares is expected to take place on 2 April 2015 following the retirement of Mr Thomas on 31 March 2015.

Admission for 232,727 Shares to be acquired by Mr Moravsky is expected to take place on 1 June 2015. My Moravsky has informed the Company that it is his present intention to retain all the Shares his will acquire.

From 2 April 2015, the total number of ordinary shares in issue will be 43,503,442 of which 1,862,000 ordinary shares held in treasury. Each ordinary share carries the right to one vote and therefore, the total number of voting rights in the Company will be 41,641,442.

From 1 June 2015, the total number of ordinary shares in issue will then be 43,736,169. The total number of voting rights in the Company will then be 41,874,169.

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 Matthews	Tel: [phone]

 

END

 

 

MSCFMGZFZNZGKZM