Action Hotels PLC Director's Dealing (4556L)

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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          Ordinary shares of GBP0.10 
      instrument 
                                                                 AHCG ISIN: JE00BFZD1492 
      Identification code 
---  --------------------------------------------------------  ------------------------------------------------------- 
 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                                   N/A - single transaction 
         *    Aggregated volume 
 
 
         *    Price 
---  --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   17 April 2018 
---  --------------------------------------------------------  ------------------------------------------------------- 
 f)   Place of the transaction                                  London Stock Exchange, AIM 
---  --------------------------------------------------------  ------------------------------------------------------- 
 

For more information:

 
 Action Hotels PLC                       Tel: [phone] 
  Andrew Lindley, Chief Financial 
  Officer 
  Katie Shelton, Director of Corporate 
  Affairs 
 WH Ireland Limited                      Tel: [phone] 
  Adrian Hadden 
  Jessica Cave 
  Alex Bond 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 19, 2018 05:15 ET (09:15 GMT)