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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Safe Harbour Holdings Plc | LSE:SHH | London | Ordinary Share | JE00BF03FZ36 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 75.00 | 70.00 | 80.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS No 2884m SCOTTISH HIGHLAND HOTELS PLC 20 August 1999 PARAMOUNT HOTELS INVESTMENTS LIMITED Recommended offer for Scottish Highland Hotels plc On 18 August 1999, the board of Paramount Hotels Investments Limited ("Paramount Hotels Investments") announced the terms of a recommended cash offer, to be made by Apax Partners & Co. Capital Limited on behalf of Paramount Hotels Investments, to acquire the entire issued, and to be issued, share capital of Scottish Highland Hotels plc ("Scottish Highland"). The document containing the terms of the Offer was posted to Scottish Highland's shareholders on 18 August 1999. The Offer is 130p in cash for each Scottish Highland share which values Scottish Highland's existing issued share capital at approximately #38 million. Paramount Hotels Investments is a newly incorporated company formed for the purpose of making the Offer and a wholly owned subsidiary of Paramount Hotels Group Limited ("Paramount Hotels"). The Alchemy Investment Plan currently controls 87.5 per cent. and directors and senior management hold 12.5 per cent. of the ordinary share capital of Paramount Hotels. Alchemy Partners, which was established in 1997, is a venture capital advisory business and advises Alchemy Partners (Guernsey) Limited, which manages the Alchemy Investment Plan. On posting of the Offer, Paramount Hotels Investments held irrevocable undertakings relating to, in aggregate, 5,557,880 Scottish Highland shares (representing 19.02 per cent. of the issued share capital of Scottish Highland). Further details on these undertakings are set out in yesterday's announcement and in the Offer Document. In addition, on 18 August 1999, Paramount Hotels Investments acquired 8,738,663 Scottish Highland shares representing 29.90 per cent. of the issued share capital of Scottish Highland at 130p per share. Accordingly, therefore, Paramount Hotels Investments now owns, or has received undertakings to accept the Offer in respect of, in aggregate, 14,296,543 shares in Scottish Highland, representing 48.92 per cent. of the issued share capital of Scottish Highland. The directors of Paramount Hotels, Paramount Hotels Investments, the directors of Alchemy Partners (Guernsey) and the partners of Alchemy Partners, accept responsibility for the information contained in this announcement and to the best of their knowledge and belief (having taken all reasonable care to ensure that such is the case). The information contained herein is in accordance with the facts and does not omit anything likely to affect the impact of such information. Apax Partners, which is regulated by The Securities and Futures Authority Limited, is acting for Paramount Hotels and Hotels Investments and no one else in connection with the Offer for Scottish Highland and will not be responsible to anyone other than Paramount Hotels and Hotels Investments for providing the protections afforded to their customers or for providing advice in relation to the Offer. END OFFPLMPBLLBBBTL
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