TIDMPPH
RNS Number : 8231G
PPHE Hotel Group Limited
17 November 2022
17 November 2022
PPHE Hotel Group Limited
("PPHE Hotel Group", "PPHE" or the "Company")
Update Statement
At this year's Annual General Meeting held on 17(th) May 2022
("AGM"), PPHE Hotel Group Limited received the following votes in
respect of Resolution 10.
Resolution 10: To re-elect Ken Bradley as a Director of the
Company
Total votes For (*) Against (*) Withheld
cast (**)
Number % Number %
------------- ------- ----------- ------- ---------
21,397,384 20,443,193 95.54% 954,191 4.46% 500,692
------------- ------- ----------- ------- ---------
***3,022,567 ***2,068,376 68.43% ***954,191 31.57% 500,682
------------- ------- ----------- ------- ---------
*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 Company has conducted engagement activities with its
investors, including the commissioning of a materiality assessment
of stakeholder priorities for environmental, social and governance
("ESG") and through investor roadshows. The executive leadership
team also proactively seeks out investor input through investor
roadshows conducted by the Chief Financial Officer and the Deputy
Chief Executive Officer & Chief Operating Officer. These are
exercises in gathering feedback from investors that are relayed to
the Board and can input into Board discussions. The Company,
additionally, conducts productive correspondence with investors
directly and indirectly through investor information services,
which informs our understanding of governance priorities for
investors, and assists us in setting targets internally, and with
communication priorities.
Having conducted engagement specifically on governance, the
Board understands that the votes against Resolution 10 by the
independent shareholders were motivated by factors relating to
Board composition, specifically the tenure and independence of the
Chairman and Deputy Chairman of the Company and the road map to
meeting diversity targets. It was felt by independent shareholders
that the most appropriate way to address this point was to direct
it towards Mr. Bradley, in his role as Chair of the Nomination
Committee.
The Board will continue to be open and transparent about its
journey to meeting targets on Board composition, diversity and
independence and recognises the importance of taking diversity
targets, amongst other factors, into consideration when appointing
new directors.
As announced earlier this week, Kevin McAuliffe, Non-Executive
Deputy Chairman of the Company, will not stand for re-election at
the next Annual General Meeting and will resign from the Board at
the conclusion of the meeting. In light of this, the Company will
seek to appoint an independent Non-Executive Deputy Chairman in due
course to support the Chairman on governance matters .
In addition , the Company is seeking to expand the Board and is
currently undergoing the recruitment process to appoint a new
independent Non-Executive Director. In respect of this appointment,
the Company specifically required a duly engaged independent
recruitment agency to have due regard to diversity targets in
presenting candidates for interview. The Company will shortly
provide further updates on the outcome of this process, which is
well underway.
Enquiries:
PPHE Hotel Group Limited
Inbar Zilberman Tel: + 44 207 034 1376
Chief Corporate Officer & Legal Officer
Hudson Sandler
Wendy Baker Tel: +44 (0)20 7796 4133
Lucy Wollam Email: pphe@hudsonsandler.com
Charlotte Cobb
Notes to Editors
PPHE Hotel Group is an international hospitality real estate
company, with a GBP1.8 billion portfolio, valued as at December
2021 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(R) branded hotels
and resorts in Europe, the Middle East and Africa. In addition,
PPHE Hotel Group wholly owns, and operates under, the art'otel(R)
brand and its Croatian subsidiary owns, and operates under, the
Arena Hotels & Apartments(R) and Arena Campsites(R) 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
www.arenahospitalitygroup.com
For reservations
www.parkplaza.com
www.artotel.com
www.arenahotels.com
www.arenacampsites.com
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END
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November 17, 2022 11:54 ET (16:54 GMT)
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