Result of Annual General Meeting

RNS Number : 3888N

PPHE Hotel Group Limited

19 May 2020

 

PPHE Hotel Group Limited

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

Result of Annual General Meeting

PPHE Hotel Group confirms that at the Company's Annual General Meeting held at 12 noon on 19 May 2020, all of the resolutions (except resolution 2 that was not put to the meeting) were passed by means of a poll. The votes cast for resolutions 9 to 11 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 ***).

The full text of each resolution was included in the Company's Notice of the Annual General Meeting and the Supplement to the Notice of Annual General Meeting that were posted or e-mailed to shareholders and also made available on the Company's website www.pphe.com on 27 February 2020 and 17 April 2020 respectively. 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	23,348,772	21,643,351		92.81	1,676,985		7.19	28,436
2.	To declare a final dividend of 20 pence per ordinary share be authorised	Withdrawn
3.	To re-appoint Kost Forer Gabbay & Kasierer, a member of Ernst & Young Global, as auditor of the Company	23,348,773	23,348,766		100	0		0.00	7
4.	To authorise the Directors to determine the auditors' Remuneration	23,348,773	23,348,766		100	0		0.00	7
5.	To re-appoint Eli Papouchado as a Director of the Company	23,348,772	20,802,343		89.20	2,517,986		10.80	28,443
6.	To re-appoint Boris Ivesha, as a Director of the Company	23,348,772	23,290,025		99.99	2,000		0.01	56,747
7.	To re-appoint Daniel Kos, as a Director of the Company	23,348,773	21,186,077		90.74	2,162,689		9.26	7
8.	To re-appoint Kevin McAuliffe as a Director of the Company	23,348,773	22,806,770		98.27	401,524		1.73	140,479
9.	To re-appoint Dawn Morgan as a Director of the Company	23,348,772	23,026,223		98.62	322,542		1.38	7
		4,951,538***	4,628,989***		93.49***	322,542***		6.51***	7***
10.	To re-appoint Ken Bradley as a Director of the Company	23,348,773	23,246,957		100	0		0.00	101,816
		4,951,539***	4,849,723***		100***	0***		0.00***	101,816***
11.	To re-appoint Nigel Keen as a Director of the Company	23,348,773	23,348,766		100	0		0.00	7
		4,951,539***	4,951,532***		100***	0***		0.00***	7***
Special Resolutions
12.	Authority to purchase own shares	23,348,772	23,290,032		99.75	58,740		0.25	0
13.	Authority for Directors to allot shares	23,348,773	21,185,456		90.73	2,163,317		9.27	0
14.	General authority to disapply pre-emption rights	23,348,773	21,186,077		90.74	2,162,689		9.26	7
15.	Additional authority to disapply  pre-emption rights	23,348,772	21,169,026		90.66	2,179,739		9.34	7
16.	Amendment to the Company's articles of incorporation	23,334,716	21,172,027		90.59	2,162,689		9.25	0

*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 all of the resolutions proposed.

As previously announced, effective as of today, Nigel Jones has retired from the Board.

Eli Papouchado, Chairman of PPHE said: 

"On behalf of the Board, I wish to express my gratitude to Nigel Jones for his dedication and service to the Group, he has been an integral and valued Board member in helping the Group grow and succeed. On behalf of the Board we thank him for his commitment and service to the Group. We would also like to take this opportunity to announce that Nigel Keen, who joined as a non-executive director on 20 February 2020, will succeed Nigel Jones as Senior Independent Director, effective as of today."

The Board notes the recent inquiries regarding the Company's diversity. As detailed in our 2019 Annual Report, our collective leadership team, which consists of the direct reports to the Chief Executive Officer and their direct reports, had a gender diversity ratio of 50% female to male, juxtaposed to a 14% gender diversity ratio on the Board. We are mindful of our gender diversity at the Board level compared with the Leadership level. To that end we review our Diversity Policy regularly.  We will review this Policy again in 2020 giving due consideration to the Hampton-Alexander Board Diversity targets. 

In accordance with the Listing Rules a copy of each of the resolutions passed at the Annual General Meeting has been forwarded to the UK Listing Authority and will shortly be available for inspection at the following location: https://data.fca.org.uk/#/nsm/nationalstoragemechanism

Disclosure of rights attached to equity shares

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
Inbar Zilberman, Chief Corporate & Legal Officer
Robert Henke, Executive Vice President Commercial Affairs	Tel: [phone]
Hudson Sandler
Wendy Baker/ Lucy Wollam	Tel: [phone] [e-mail]

Notes to Editors

PPHE Hotel Group is an international hospitality real estate company, with a 1.7 billion portfolio (valued as at summer of 2019) by Savills and Zagreb nekretnine Ltd 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 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.

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 incorporated company with shares listed on the London Stock Exchange and a constituent of the FTSE 250. 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.artotels.com
www.arenahotels.com  
www.arenacampsites.com  

For images and logos visit:

www.vfmii.com/parkpla

 

END

 

 

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