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Action Hotels PLC (AHCG)

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Thursday 19 April, 2018

Action Hotels PLC

Director's Dealing

RNS Number : 4556L
Action Hotels PLC
19 April 2018
 

Action Hotels plc

("Action Hotels" or the "Company")

Director's Dealing

Further to the announcement made on 3 April 2018, regarding the unsecured loan agreement for USD$15m (the "Loan") with EBLA Computer Consultancy Co. KSC, the Company was notified on 18 April 2018 that Action Group Holdings Company (K.S.C.C) has pledged 14 million (fourteen million shares) ordinary shares of 10 pence each ("Ordinary Shares") as a guarantee regarding the Loan on behalf of the Company. 

The 14 million Ordinary Shares represent 13.1% of Sheikh Mubarak A. M. Al Sabah's total interest in the Company's issued Ordinary Share capital and 9.5% of the Company's total issued Ordinary Share capital.

Following this transaction, Sheikh Mubarak A. M. Al Sabah remains to have an interest in 107,026,079 (of which 1,724,968 are held directly and the balance are held by Action Group Holding Company K.S.C.C and its subsidiaries) Ordinary Shares, representing approximately 72.49 per cent. of the Company's issued Ordinary Share capital.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Action Group Holdings Company (K.S.C.C)

2

Reason for the notification

a)

Position/status

Sheikh Mubarak A. M. Al Sabah (a director of the Action Hotels plc) is a director and a major shareholder of Action Group Holdings Company (K.S.C.C)

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Action Hotels plc

b)

LEI

213800BGD9TEXUTCQ647

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 £0.10

 

AHCG ISIN: JE00BFZD1492

b)

Nature of the transaction

Pledging of Ordinary Shares as security for an unsecured loan to Action Hotels plc

c)

Price(s) and volume(s)

 

 

Price:

Volume:

N/A

14,000,000

 

d)

Aggregated information

-      Aggregated volume

-      Price

N/A - single transaction

e)

Date of the transaction

17 April 2018

f)

Place of the transaction

London Stock Exchange, AIM

 

For more information:

Action Hotels PLC

Andrew Lindley, Chief Financial Officer
Katie Shelton, Director of Corporate Affairs

Tel: +44 (0) 20 7907 9663

 

WH Ireland Limited

Adrian Hadden
Jessica Cave

Alex Bond

Tel: +44 (0) 20 7220 1666

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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