Notification of Transactions by Directors

RNS Number : 5227S

PPHE Hotel Group Limited

12 March 2019

 

PPHE Hotel Group Limited

(the "Company")

Notification of Transactions by Directors/Persons Discharging Managerial Responsibility ("PDMRs")

The Company announces that it received notification on 11 March 2019 from Eli Papouchado, Non-Executive Chairman of the Company, that Euro Plaza Holdings B.V. ("Euro Plaza") was released from a pledge over 6,330,297 ordinary shares in the Company of nil par value ("Shares") held by a lender as security in connection with a loan to a company in the group of which Euro Plaza is a member. 10,000,000 Shares held by Euro Plaza remain pledged. Eli Papouchado remains interested in 19,852,714 Shares, representing 46.89 per cent, of the Company's issued share capital (excluding treasury shares).

Euro Plaza is an indirect wholly-owned Dutch incorporated subsidiary of A.P.Y. Investments & Real Estate Ltd ("APY"). As at the date hereof, 98% of the shares in APY are held by Eli Papouchado as trustee of an endowment created under Israeli law which he formed in 1998 (the "Endowment"). The primary beneficiaries of the Endowment are Eli Papouchado and his sons, Yoav Papouchado and Avner Papouchado, and the secondary beneficiaries are the children of Yoav and Avner. The remaining 2% of the shares in APY are held by Yoav and Avner Papouchado respectively (1% each). APY and its subsidiaries are part of an international constructions, hotel and real estate group (the "Red Sea Group") that was founded by Eli Papouchado.

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide additional detail:

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Euro Plaza Holdings B.V.
2	Reason for the notification
a)	Position/status	PCA to Non-Executive Chairman Eli Papouchado
b)	Initial notification/Amendment	This is an initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	PPHE Hotel Group Limited
b)	LEI	2138003H1BZGR6KM5823
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of no par value GG00B1Z5FH87/PPH
b)	Nature of the transaction	Release of pledge of 6,330,297 Ordinary Shares in PPHE Hotel Group Ltd held by Euro Plaza Holdings B.V.in favour of a lender.
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 6,330,297
d)	Aggregated information	Price(s) Volume(s) N/A 6,330,297
e)	Date of the transaction	11 March 2019
f)	Place of the transaction	Outside a trading venue

Enquiries:

PPHE Hotel Group Limited
Robert Henke, Executive Vice President of Corporate Affairs and Customer Experience Lisa Woodman, Director of Corporate Communications	Tel: [phone] Tel: [phone]
Hudson Sandler
Wendy Baker/Sophie Lister	Tel: [phone] [e-mail]

Notes to editors

PPHE Hotel Group is an international hospitality real estate company, with a £1.6 billion portfolio of primarily prime freehold and long leasehold assets in Europe.

The Group's guiding principle is to generate attractive returns from operations and long-term capital appreciation.

Through its subsidiaries, jointly controlled entities and associates it owns, co-owns, develops, leases, operates and franchises hospitality real estate. Its primary focus is 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 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, the 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. This multi-brand approach enables the Group to develop and operate properties across several segments of the hospitality market.

The Group is one of the largest owner/operators of hotels in central London and its property portfolio comprises of 38 hotels and resorts in operation, offering a total of approximately 8,800 rooms and 8 campsites, offering approximately 6,000 units. The Group's development pipeline includes two new hotels in London which are expected to add an additional 500 rooms by the end of 2022/2023.

PPHE Hotel Group is a Guernsey registered company and its shares are listed on the Premium Listing segment of the Main Market of the London Stock Exchange. PPHE Hotel Group also holds a controlling ownership interest (51.97% of the share capital) in Arena Hospitality Group, whose shares are listed on the Zagreb Stock Exchange.

Company websites:

www.pphe.com 

www.arenahospitalitygroup.com

For reservations:

www.parkplaza.com

www.artotels.com

www.arenahotels.com 

www.arenacampsites.com 

For images and logos visit www.vfmii.com/parkplaza

 

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