Island Hotels Group Holdings plc – Statement of Opinion

Island Hotels Group Holdings p.l.c. (the “Company”) issued the following Company Announcement pursuant to the Malta Financial Services Authority Listing Rules.  

The Company announces that on 3 July 2015 its Board of Directors discussed the offer received from International Hotel Investments p.l.c. (the “Offeror”) for a Voluntary Public Bid launched in terms of Chapter 11 of the Listing Rules (the “Voluntary Bid”), in respect of all the issued shares in the Company with the intention of acquiring the entire issued share capital of the Company. The Board of Directors has evaluated the Voluntary Bid and the effects of the implementation of the Voluntary Bid on employment, conditions of employment and the location of the Company’s place of business. 

The Company further announces that, as set out in the offer document pursuant to which the Voluntary Bid has been launched, a number of shareholders of the Company, including T.M.C. 2 Limited (C51460), Double You Limited (C25234), Double You Holdings Company Limited (C67884), T Limited (C25235) and TZ Holdings Company Limited (C67883) which cumulatively hold shares representing over 91% of the issued ordinary share capital of the Company, had pursuant to the conditional agreement entered into with the Offeror (referred to in company announcement IHG62) undertaken in favour of the Offeror that in the event that an offer were to be made to them by the Offeror on the terms and under the conditions provided for in the conditional agreement, they would be bound to accept such offer for all their shares in the Company. 

As further specified in the said offer document, as a result of the Offer having been made under the terms and conditions provided for in the conditional agreement, and subject to the Voluntary Bid becoming unconditional and irrevocable in all respects, during the course of the acceptance period the Offeror is expected to secure acceptances which amount to at least 91% of the entire issued share capital of the Company. 

To view the official Company Announcement, click here.