14 Jul 2016 14:58
Elegant Hotels Group plc
("Elegant Hotels" or the "Company")
This announcement contains inside information
Director's dealing
The Board of Elegant Hotels, the owner and operator of six upscale freehold hotels and a beachfront restaurant on the island of Barbados, announces that Simon Sherwood, Non-executive Chairman, purchased 22,639 ordinary shares of 1 pence each ("Ordinary Shares") on 14 July 2016 at a price of 66.2p per Ordinary Share.Following this transaction, Simon has an interest in 1,872,028 Ordinary Shares, representing approximately 2.11 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 | Simon Sherwood | ||||
2 | Reason for the notification | |||||
a) | Position/status | Non-executive Chairman | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Elegant Hotels Group plc | ||||
b) | LEI | (Pending) | ||||
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 £0.01
EHG ISIN: GB00BWXSNY91 | ||||
b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A - single transaction | ||||
e) | Date of the transaction | 14 July 2016 | ||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||
For further information:
Elegant Hotels Group plc Sunil Chatrani, Chief Executive Officer | +1 246 432 6500 |
Zeus Capital Limited (NOMAD and Broker) | |
Dan Bate / Jonny Sharp Adam Pollock / John Goold | +44 (0) 161 831 1512
|
Powerscourt Rob Greening / Lisa Kavanagh Email: eleganthotels@powerscourt-group.com
| +44 (0) 207 250 1446
|
NOTES TO EDITORS:
Elegant Hotels owns and operates six luxury hotels and a beachfront restaurant, Daphne's, on the island of Barbados. The Group's portfolio comprises 553 rooms, which represents around 29% of Barbados' quality leisure tourist room stock. Five of the six Group hotels, including its recent acquisition Waves Hotel & Spa, are situated along the prestigious west coast of Barbados commonly known as the "Platinum Coast". The properties are all freehold, with a total aggregate plot size of approximately 22 acres and an aggregate beachfront of 2,500 feet. In the year to 30 September 2015, the Group achieved revenues of $60.1 million and EBITDA before non-recurring items of $22.2 million.
The Group's shares were admitted to trading on the London Stock Exchange's AIM in May 2015. Its objective now is to leverage its position as a leading hotel operator in Barbados and to expand both on Barbados and further into the Caribbean.
Together, the Group's six hotels - Colony Club, Tamarind, The House, Crystal Cove, Turtle Beach and Waves Hotel & Spa - offer styles encompassing classic and contemporary, family-friendly and adults-only:
Investor website: http://www.eleganthotelsgroup.com/
Commercial website: http://www.eleganthotels.com/