Director's Dealing
Updated : 07:07
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
Action Hotels plc
("Action Hotels" or the "Company")
Director's Dealing
Action Hotels, the leading owner, developer and asset manager of branded three and four-star hotels in the Middle East and Australia announces that is has been notified that Action Real Estate Co. K.S.C.C. ("AREC"), a subsidiary of Action Group Holding Company K.S.C.C ("ACGH") which the Company's Non-Executive Chairman, Sheikh Mubarak A. M. Al Sabah is Chairman and a major shareholder of, has entered into an agreement with Blakeney LLP, a significant shareholder in the Company, to purchase 9,715,463 Action Hotels ordinary shares of 10 pence each ("Ordinary Shares") on or before 25 March 2018 at a price of 23p per Ordinary Share.
Following this transaction, Sheikh Mubarak A. M. Al Sabah has 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 Real Estate Co. 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 Real Estate Co. 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 instrument Identification code | Ordinary shares of £0.10
AHCG ISIN: JE00BFZD1492 | ||||
b) | Nature of the transaction | Agreement to purchase Ordinary Shares on or before 25 March 2018
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
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e) | Date of the transaction | 13 March 2018 | ||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||
For more information contact:
Action Hotels PLC | Tel: +44 (0) 20 7907 9663 |
Alain Debare, Chief Executive Officer | |
Katie Shelton, Director of Corporate Affairs |
Zeus Capital Limited (Nomad and Broker) | |
Dan Bate / Andrew Jones | Tel: +44 (0) 161 831 1512 |
Victoria Ayton | Tel: +44 (0) 20 3829 5000 |
Notes to Editors
Action Hotels PLC
Action Hotels PLC is a leading owner, developer and asset manager of branded three and four star hotels in the Middle East and Australia. Established in 2005, Action Hotels currently has 13 completed hotels with 2,276 rooms in aggregate across the Middle East and Australia, with further properties in development in both regions.
More information is available at http://www.actionhotels.com/
This information is provided by RNS