Playa Hotels & Resorts N.V. Announces Intention to Delist Public Warrants Following Completion of Mandatory Exchange
July 07 2017 - 5:00PM
Playa Hotels & Resorts N.V. (NASDAQ:PLYA) (NASDAQ:PLYAW)
(the “Company”) today announced that it has submitted written
notice to the NASDAQ Stock Market LLC (“NASDAQ”) of its intention
to voluntarily delist its warrants traded under the symbol “PLYAW”
(the “Public Warrants”) from NASDAQ. The Company is delisting the
Public Warrants in connection with its previously announced
mandatory exchange of all of its outstanding Public Warrants for
ordinary shares of the Company at an exchange ratio of 0.09
ordinary shares for each Public Warrant. After the completion
of the mandatory exchange, the Company will have no outstanding
Public Warrants. The Company intends to complete the mandatory
exchange on or about July 17, 2017.
The Company currently anticipates that, on or about
July 17, 2017, the Company will file with the Securities and
Exchange Commission (the “SEC”) and NASDAQ a Form 25 relating to
the delisting of the Public Warrants. The Company expects that
trading in the Company’s Public Warrants will be suspended on the
date that the Form 25 is filed, with the official delisting of the
Public Warrants becoming effective ten days thereafter.
Accordingly, the Company anticipates that trading of the Public
Warrants on NASDAQ will be suspended on or about July 17, 2017 and
that the Public Warrants will be delisted from NASDAQ on or about
July 27, 2017.
Playa Hotels & Resorts
Playa Hotels & Resorts N.V. is a leading owner, operator and
developer of all-inclusive resorts in prime beachfront locations in
popular vacation destinations in Mexico and
the Caribbean. Playa owns a portfolio consisting of 13 resorts
(6,142-rooms) located in Mexico, the Dominican
Republic and Jamaica. Playa owns and manages Hyatt Zilara
and Hyatt Ziva Cancun, Hyatt Zilara Rose Hall and Hyatt Ziva
Rose Hall in Jamaica, Hyatt Ziva Puerto Vallarta
and Hyatt Ziva Los Cabos. The Company also owns and operates
three resorts under Playa’s brands, THE Royal and Gran
Resorts, as well as five resorts in Mexico and
the Dominican Republic that are managed by a third
party.
Forward looking statements This
press release contains ‘‘forward-looking statements,’’ as defined
by federal securities laws. Forward-looking statements reflect the
Company’s current expectations and projections about future events
at the time, and thus involve uncertainty and risk. The words
“believe,” “expect,” “anticipate,” “will,” “could,” “would,”
“should,” “may,” “plan,” “estimate,” “intend,” “predict,”
“potential,” “continue,” and the negatives of these words and other
similar expressions generally identify forward looking statements.
Such forward-looking statements are subject to various risks and
uncertainties, including those described under the section entitled
“Risk Factors” in the Company’s Registration Statement on Form
S-4, filed with the SEC on June 6, 2017, as such factors may
be updated from time to time in the Company’s periodic filings with
the SEC, which are accessible on the SEC’s website
at www.sec.gov. Accordingly, there are or will be
important factors that could cause actual outcomes or results to
differ materially from those indicated in these statements. These
factors should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements that are included
in this release and in the Company’s filings with the SEC.
While forward-looking statements reflect the Company’s good faith
beliefs, they are not guarantees of future performance. The Company
disclaims any obligation to publicly update or revise any
forward-looking statement to reflect changes in underlying
assumptions or factors, new information, data or methods, future
events or other changes after the date of this press release,
except as required by applicable law. You should not place undue
reliance on any forward-looking statements, which are based only on
information currently available to the Company (or to third parties
making the forward-looking statements).
Contact:
Ryan Hymel
Playa Hotels & Resorts
IR@playaresorts.com
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