REG - PPHE Hotel Grp Ltd - Result of AGM

PPHE HotelAnnouncement

22/05/2024 17:45

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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
(http://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  24,587,106        24,587,106  100.00%  0          0.00%   3,118
         31 December 2023
 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                                             24,587,106        24,587,106  100.00%  0          0.00%   3,118

         & Co, a member of the Deloitte Global Network as auditors of the Company
 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
(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 (mailto: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 (http://www.pphe.com) |
www.arenahospitalitygroup.com (http://www.arenahospitalitygroup.com)

 

For reservations:

www.parkplaza.com (http://www.parkplaza.com) | www.artotel.com
(http://www.artotel.com) | www.radissonhotels.com
(http://www.radissonhotels.com) | www.arenahotels.com
(http://www.arenahotels.com) | www.arenacampsites.com
(http://www.arenacampsites.com)

 

 

 

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