Move from AIM and ESM to the Main Market

RNS Number : 9522Z

Dalata Hotel Group PLC

01 June 2016

 

Dalata Hotel Group plc

('Dalata' or the 'Company')

Dalata to move from AIM and ESM to the Main Market

Dalata Hotel Group plc, Ireland's largest hotel operator, announces its intention to move the listings of its entire issued share capital from the AIM market of the London Stock Exchange and the ESM market of the Irish Stock Exchange ("ISE") to the Primary Listing segment of the Official List of the ISE and the Standard Listing segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities ("Admission").

The Board of Dalata believes that the Company has grown and matured over the last number of years and that the Main Market is the most appropriate platform for the Company's future development. Furthermore it is hoped that a listing on the Main Market will further boost Dalata's profile as well as potentially increasing the liquidity of trading in its securities enabling its ordinary shares to be acquired by a wider group of investors.

A prospectus is currently being prepared in connection with the Admission. Once the prospectus is published it will be available on the Company's website. It is expected that Admission will take place no earlier than 30 June 2016. Trading in the Company's ordinary shares on AIM and ESM will be cancelled simultaneously with Admission.

The Company is not raising any funds or issuing any new shares in connection with Admission and, accordingly, the interests of existing shareholders of the Company will not be diluted or affected as a result of the move to the Official Lists. The Company's stock code will continue to be "DAL" on the London Stock Exchange and "DHG" on the Irish Stock Exchange. On Admission there will be 182,966,666 ordinary shares in issue.

Pat McCann, Chief Executive of Dalata commented: 

"Our listings on the AIM and ESM have served us well in accessing capital markets to develop our strategy to grow our portfolio of owned and leased hotels at an opportune time in the Irish Market. It also enabled us to increase our presence in the UK market. Given the considerable growth of the business both financially and operationally we believe that a listing on the Main Markets is the most appropriate platform for our future development. Through this move to the Official List we look forward to improving our profile and broadening our investor base further."

J&E Davy ("Davy") is acting as sponsor under the ISE Listing Rules, financial adviser and broker to the Company in connection with Admission. Davy is acting for the Company and no one else in connection with Admission and will not be responsible to any other person for providing the protections afforded to customers of Davy or for providing advice in relation to Admission. 

This announcement is not an offer of securities for sale or subscription in any jurisdiction. This announcement is not a prospectus (or prospectus equivalent document). Investors should not subscribe for or purchase any shares in the Company based on this announcement.  Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. The material set forth herein is for information purposes only and should not be construed as an offer of securities for sale in any jurisdiction. 

ENDS

Contacts

Dalata Hotel Group plc                                                                                   Tel [phone] 

Pat McCann, CEO

Dermot Crowley, Deputy CEO, Business Development & Finance

Sean McKeon, CFO

Davy (ESM Adviser, Nomad and Sponsor)                                                    Tel [phone] 

Anthony Farrell

PR - FTI Consulting                                                                                       Tel [phone]  

About Dalata

Dalata Hotel Group plc is Ireland's largest hotel operator, with a current portfolio of 41 three and four star hotels with over 7,600 rooms. Dalata successfully operate Ireland's two largest hotel brands, the Clayton and the Maldron Hotels across Ireland and the UK, as well as managing a portfolio of partner hotels. 20 of the hotels are owned by Dalata, 13 hotels are operated under lease agreements and 8 are operated under management agreements.

For the full year 2015 Dalata reported revenue of €225.7 million. The Group is listed on the Irish Stock Exchange (ESM: DHG) and London Stock Exchange (AIM: DAL).

For further information visit: dalatahotelgroup.com

 

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