IHI plc – Transfer of ownership of the shares in Island Hotels Group Holdings plc (“IHGH”) and settlement by International Hotel Investments plc (“IHI”)

IHI refers to the offer made to shareholders of IHGH pursuant to a Voluntary Public Bid launched in terms of Chapter 11 of the Listing Rules (the “Bid”) for the acquisition of the entire issued share capital of IHGH.

Further to its Company Announcement of 3 August 2015 IHI announces that 38,457,860 shares

in IHGH, amounting to 99.68% of the entire issued share capital of IHGH, have been transferred

to IHI with effect from today.

IHI announces that in terms of the Bid and in discharge of the consideration due to the

shareholders of IHGH who have accepted to sell and transfer their shares in IHGH to IHI (the

“Accepting Shareholders”), IHI is required to issue and allot 9,195,128 ordinary shares of €1

each in IHI in favour of the Accepting Shareholders (the “Shares”).

Today IHI issued 2,687,960 Shares in favour of part of the Accepting Shareholders, and the

remaining 6,507,168 Shares will be issued in favour of the remaining Accepting Shareholders

on a date due twelve months from today, subject to certain terms and conditions.

With respect to the remaining 0.32% of the entire issued share capital of IHGH (the “Remaining

IHGH Shares”), IHI announces its intention to carry out the process in terms of Listing Rule

11.42 by means of which IHI will exercise its right to require all the holders of the Remaining

IHGH Shares to sell and transfer such shares to IHI.

For the purposes of Listing Rule 11.43, IHI will be obtaining a report to be drawn up by

PricewaterhouseCoopers, as independent experts, to report on the fair price for the Remaining

IHGH Shares. IHI will in due course announce the conclusions of this report and a copy will be

published on its website.

IHI is required to complete the process of transferring the Remaining IHGH Shares to IHI and

process the applicable payments by no later than 31 October 2015.

Following the completion of the foregoing process IHI intends to apply for the delisting of the

entire issued share capital of IHGH.

To view the official company announcement, click here.