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18 Jul 2014 10:46
18 July 2014
The Hotel Corporation plc
("HCP" or the "Company")
Update on Puma
Further to the Company's announcement of 26 June 2014, the Hotel Corporation plc, the AIM listed investment company, has been notified that at the General Meeting ("GM") of Puma Hotels plc ("Puma") on 10 July 2014, the resolution to change Puma's name to UK Group of Hotels plc ("UK Group of Hotels") was approved by shareholders. The Company owns 49.9% of UK Group of Hotels, which has recently rebranded itself as "The Hotel Collection" following the acquisition of its senior debt by LSREF III Wight Limited ("Lone Star") from Irish Bank Resolution Corporation Limited. Pursuant to a standstill agreement, Lone Star has agreed to suspend its rights to repayment until 30 September 2014, subject to certain conditions.
Mike Jourdain was also re-elected as a director of UK Group of Hotels at the GM.
For further information:
The Hotel Corporation plc Derek Short / David Craine | +44 (0) 1624 626586 |
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Sanlam Securities UK Limited (Nomad and Broker) Simon Clements / James Thomas | +44 (0) 20 7628 2200 |
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