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PPH Pphe Hotel Group Limited

1,315.00
-5.00 (-0.38%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Pphe Hotel Group Limited LSE:PPH London Ordinary Share GG00B1Z5FH87 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -5.00 -0.38% 1,315.00 1,310.00 1,315.00 1,325.00 1,310.00 1,320.00 9,087 16:35:11
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Hotels And Motels 414.6M 22.42M 0.5291 24.76 554.96M

PPHE Hotel Group Limited Result of AGM

22/05/2024 5:34pm

RNS Regulatory News


RNS Number : 5376P
PPHE Hotel Group Limited
22 May 2024
 

22 May 2024

 

 

 

 

 

PPHE HOTEL GROUP LIMITED
("PPHE Hotel Group" or "the Company")

 

Result of Annual General Meeting

 

PPHE Hotel Group confirms that at the Company's Annual General Meeting held on 22 May 2024 at 12 noon, all of the resolutions were decided on a poll and all resolutions proposed at the Annual General Meeting were passed. Resolutions 10 to 13 relating to the re-election of the independent Directors were duly passed by both a majority of the votes cast by the independent shareholders as well as by a majority of votes cast by all shareholders. These votes have been calculated separately and are shown below (independent shareholder votes cast being marked ***). Resolution 18 relating to the Rule 9 Waiver was duly passed by a majority of the votes cast by the independent shareholders only (independent shareholder votes cast being marked ***).

 

The full text of each resolution was included in the Company's Notice of Annual General Meeting (dated 13 March 2024) that was posted or e-mailed to shareholders and also made available on the Company's website www.pphe.com. The following table shows the results of the votes cast.

 

Resolution

Total votes cast

For (*)

Against (*)

Withheld (**)

Number

%

Number

%

Ordinary resolutions

1.

To receive the Annual Report and Accounts

24,584,028

20,780,557

84.53%

3,803,471

15.47%

6,196

2.

To approve a final dividend of 20 pence per ordinary share for the year ended 31 December 2023

24,587,106

24,587,106

100.00%

0

0.00%

3,118

3.

To approve the Company's Remuneration Report (advisory vote)

23,385,322

21,931,414

93.78%

1,453,908

6.22%

1,204,902

4.

To appoint Brightman Almagor Zohar

& Co, a member of the Deloitte Global Network as auditors of the Company

24,587,106

24,587,106

100.00%

0

0.00%

3,118

5.

To authorise the Directors to determine the auditors' remuneration

24,587,106

24,564,526

99.91%

22,580

0.09%

3,118

6.

To re-elect Eli Papouchado (Chairman)

24,460,207

22,388,280

91.53%

2,071,927

8.47%

130,017

7.

To re-elect Boris Ivesha (President & Co-Chief Executive)

24,138,829

20,266,415

83.96%

3,872,414

16.04%

451,395

8.

To re-elect Greg Hegarty (Co-Chief Executive)

24,587,106

20,759,690

84.43%

3,827,416

15.57%

3,118

9.

To re-elect Daniel Kos (Chief Financial Officer)

24,587,106

20,759,692

84.43%

3,827,414

15.57%

3,118

10.

To re-elect Kenneth Bradley (Deputy Chairman)

23,323,998

22,374,109

95.93%

949,889

4.07%

1,266,226

***5,842,744

4,892,855

83.74%

949,889

16.26%

1,266,226

11.

To re-elect Nigel Keen (Senior Independent Director)

24,587,106

23,909,401

97.24%

677,705

2.76%

3,118

***7,105,852

6,428,147

90.46%

677,705

9.54%

3,118

12.

To re-elect Stephanie Coxon (Non-Executive)

24,587,106

24,214,363

98.48%

372,743

1.52%

3,118

***7,105,852

6,733,109

94.75%

372,743

5.25%

3,118

13.

To re-elect Marcia Bakker (Non-Executive)

24,587,106

24,240,082

98.59%

347,024

1.41%

3,118

***7,105,852

6,758,828

95.12%

347,024

4.88%

3,118

18.

To approve a waiver of Rule 9 of the Takeover Code

***6,732,006

5,580,555

82.90%

1,151,451

17.10%

376,964

Extraordinary resolutions

14.

To approve an authority for Directors to allot shares

24,587,106

20,758,243

84.43%

3,828,863

15.57%

3,118

Special resolutions

15.

To approve a general authority to disapply pre-emption rights

24,587,106

20,735,237

84.33%

3,851,869

15.67%

3,118

16.

To approve a specific authority to disapply pre-emption rights

24,587,106

20,734,056

84.33%

3,853,050

15.67%

3,118

17.

To approve an authority to purchase own shares

24,587,106

24,281,225

98.76%

305,881

1.24%

3,118

19.

To approve amendments to the Articles of Association

24,587,106

20,783,635

84.53%

3,803,471

15.47%

3,118

 

*Includes discretionary votes

**A vote "Withheld" is not a vote in law and is therefore not counted towards the proportion of votes "For" or "Against" the resolution

*** Votes cast by independent shareholders

 

The Board is pleased with the support from shareholders for all of the resolutions proposed. The Board notes that there is a significant minority vote against resolutions 7 to 9 for the re-election of executive Directors of the Company. The Company understands that a large portion of these votes against is from overseas shareholders in jurisdictions where it is not market practice for management to sit on the board of a company.  As a result, the internal policy of such shareholders is to vote against resolutions for the re-election of executive directors to the Board.  The Company does not consider that this is reflective of any failure on the part of the Company to comply with UK Good Corporate Governance practice.

 

In accordance with the Listing Rules a copy of each of the resolutions in respect of special business of the Company passed at the Annual General Meeting has been forwarded to the Financial Conduct Authority and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism

 

Enquiries:

 

PPHE Hotel Group Limited

Tel: +31 (0)20 717 8600

Greg Hegarty, Co-Chief Executive Officer & Executive Director


Daniel Kos, Chief Financial Officer & Executive Director


Robert Henke, Executive Vice President of Commercial Affairs


Hudson Sandler

Tel: +44 (0)20 7796 4133

Wendy Baker / Charlotte Cobb / India Laidlaw / Eloise Fleet

pphe@hudsonsandler.com

 

 

Notes to Editors:

 

PPHE Hotel Group is an international hospitality real estate company, with a £2.2 billion portfolio, valued as at December 2023 by Savills and Zagreb nekretnine Ltd (ZANE), of primarily prime freehold and long leasehold assets in Europe.

 

Through its subsidiaries, jointly controlled entities and associates it owns, co-owns, develops, leases, operates and franchises hospitality real estate. Its portfolio includes full-service upscale, upper upscale and lifestyle hotels in major gateway cities and regional centres, as well as hotel, resort and campsite properties in select resort destinations. The Group's strategy is to grow its portfolio of core upper upscale city centre hotels, leisure and outdoor hospitality and hospitality management platform.

 

PPHE Hotel Group benefits from having an exclusive and perpetual licence from the Radisson Hotel Group, one of the world's largest hotel groups, to develop and operate Park Plaza® branded hotels and resorts in Europe, the Middle East and Africa. In addition, PPHE Hotel Group wholly owns, and operates under, the art'otel® brand and its Croatian subsidiary owns, and operates under, the Arena Hotels & Apartments® and Arena Campsites® brands.

 

PPHE Hotel Group is a Guernsey registered company with shares listed on the London Stock Exchange. PPHE Hotel Group also holds a controlling ownership interest in Arena Hospitality Group, whose shares are listed on the Prime market of the Zagreb Stock Exchange.

 

Company websites: www.pphe.com | www.arenahospitalitygroup.com

 

For reservations:

www.parkplaza.com | www.artotel.com | www.radissonhotels.com | www.arenahotels.com | www.arenacampsites.com

 

 

 

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