4 Dec 2017 07:50
The following amendment has been made to the "Confirmation of approach for Elegant Hotels Group plc and Termination of Talks" announcement released today at 7.00am under RNS No 2213Y: the sentence "This announcement is issued with Melia's consent" has been added. All other details remain unchanged. The full amended text is shown below.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
For Immediate Release
4 December 2017
Elegant Hotels Group plc ("Elegant Hotels" or the "Company")
Confirmation of approach for Elegant Hotels Group plc and Termination of Talks
The Board of Elegant Hotels notes the recent press speculation concerning the possibility of an offer being made for Elegant Hotels.
The Board of Elegant Hotels announces that it had received an approach from Melia Hotels International SA "Melia Hotels" relating to a possible all cash offer for all of the issued and to be issued share capital of the Company which may be made by Melia Hotels or one of its investment affiliates. The Company further announces that discussions with Melia Hotels have now been terminated, and that Melia Hotels does not intend to make an offer to acquire the entire issued and to be issued ordinary share capital of Elegant Hotels.
This announcement is made in accordance with Rule 2.8 of the Code. As a result of this announcement, Melia Hotels will, except with the consent of the UK Panel on Takeovers and Mergers, be bound by the restrictions contained in Rule 2.8 of the Code.
This announcement is issued with Melia's consent.
Rule 26.1 disclosure
In accordance with Rule 26.1 of the Code, a copy of this announcement will be available at www.eleganthotelsgroup.com no later than 12 noon (London time) on 4 December 2017.
The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.
Enquiries
Zeus Capital Limited (NOMAD and Joint Broker)
Dan Bate / Andrew Jones / John Goold +44 (0) 203 829 5000
Liberum Capital Limited (Joint Broker)
Clayton Bush / Chris Clarke / Dominik Götzenberger +44 (0) 203 100 2222
Powerscourt
Rob Greening / Lisa Kavanagh +44 (0) 207 250 1446
Notes to Editors:
Elegant Hotels owns and operates seven luxury hotels and a beachfront restaurant, Daphne's, on the island of Barbados. The Group's portfolio currently comprises 588 rooms, making it twice as large (by room number) as the closest competitor in the Barbados luxury hotel room market.
Six of the seven properties 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 23 acres and an aggregate beachfront of 2,600 feet. Together, the Group's seven existing hotels - Colony Club, Tamarind, The House, Crystal Cove, Turtle Beach, Waves Hotel & Spa and Treasure Beach - offer styles encompassing classic and contemporary, family friendly and adults-only.
Investor website: http://www.eleganthotelsgroup.com/
Commercial website: http://www.eleganthotels.com/