TIDMEZH
RNS Number : 0766L
easyHotel PLC
28 September 2016
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY
OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL.
28 September 2016
easyHotel plc
Completion of Placing
easyHotel plc (LSE: EZH) ("easyHotel" or the "Company"), the
owner, developer, operator and franchisor of "super budget" branded
hotels, is pleased to confirm that following the announcement made
earlier today 38,000,000 new ordinary shares of 1 pence each
("Ordinary Shares") in the capital of the Company (the "Placing
Shares") have been successfully placed by Investec Bank plc with
certain institutional and other investors at a price of 100.0 pence
per Placing Share (the "Placing Price") to raise GBP38.0 million
(before expenses) (the "Placing").
The Company confirms that each of the Directors have
participated in the Placing as set out in the Company's
announcement released earlier today.
The Placing remains conditional on, inter alia, the passing of
the Resolutions which are to be proposed at a General Meeting of
the Company to be held on 14 October 2016 and Admission taking
place by no later than 17 October 2016.
Capitalised terms used in the announcement released earlier
today in relation to the Placing shall have the same meanings in
this announcement.
Expected timetable of principal events
Last time and date for receipt 12 noon on 12
of Forms of Proxy and CREST Proxy October 2016
Instructions
General Meeting 12 noon on 14
October 2016
Admission and dealings in the 8.00 a.m. on
Placing Shares expected to commence 17 October 2016
on AIM
Where applicable, expected date 17 October 2016
for CREST accounts to be credited
for Placing Shares in uncertificated
form
Where applicable, expected date By 31 October
for despatch of definitive share 2016
certificates in respect of Placing
Shares in certificated form
Enquiries:
easyHotel plc via Hudson Sandler
Guy Parsons, Chief Executive Officer
Marc Vieilledent, Chief Financial
Officer
Investec Bank plc - Nominated +44 (0) 20 7597
Adviser and Sole Broker 4000
Chris Treneman / David Anderson
Neil Coleman / William Brown
Hudson Sandler - PR Adviser to +44 (0) 20 7796
easyHotel 4133
Wendy Baker / Emily Dillon
Notes to Editors:
easyHotel is the owner, developer, operator and franchisor of
branded hotels. Its strategy is to target the "super budget"
segment of the hotel industry by marketing "clean, comfortable and
safe" hotel rooms to its customers. Website: www.easyHotel.com
Operating hotels
easyHotel's owned hotels currently comprise 390 rooms, and it
has a further 17 franchised hotels with 1,405 rooms.
Owned hotels:
Old Street (London), Glasgow, Croydon.
Franchise locations:
Bulgaria (Sofia), Germany (Berlin, Frankfurt), Hungary
(Budapest), The Netherlands (Amsterdam, Rotterdam, The Hague),
Switzerland (Basel, Zurich), UAE (Dubai), UK (Edinburgh, London
Heathrow, Central London, Luton).
Hotel development pipeline
The Company's development pipeline of owned and franchised
hotels currently consists of:
Owned hotels:
United Kingdom (Liverpool, Manchester, Birmingham, Ipswich)
Subject to planning permission: Spain (Barcelona)
Franchise hotels:
The Netherlands (Amsterdam Arena Boulevard, Amsterdam-Zaandam),
Belgium (Brussels), UAE (Dubai), Germany (Bernkastel-Kues),
Portugal (Lisbon), Turkey (Istanbul)
This Announcement should be read in its entirety. In particular,
you should read and understand the information provided in the
"Important Notices" section of this Announcement.
IMPORTANT NOTICES
This Announcement may contain and the Company may make verbal
statements containing "forward-looking statements" with respect to
certain of the Company's plans and its current goals and
expectations relating to its future financial condition,
performance, strategic initiatives, objectives and results.
Forward-looking statements sometimes use words such as "aim",
"anticipate", "target", "expect", "estimate", "intend", "plan",
"goal", "believe", "seek", "may", "could", "outlook" or other words
of similar meaning. By their nature, all forward-looking statements
involve risk and uncertainty because they relate to future events
and circumstances which are beyond the control of the Company,
including amongst other things, United Kingdom domestic and global
economic business conditions, market-related risks such as
fluctuations in interest rates and exchange rates, the policies and
actions of governmental and regulatory authorities, the effect of
competition, inflation, deflation, the timing effect and other
uncertainties of future acquisitions or combinations within
relevant industries, the effect of tax and other legislation and
other regulations in the jurisdictions in which the Company and its
respective affiliates operate, the effect of volatility in the
equity, capital and credit markets on the Company's profitability
and ability to access capital and credit, a decline in the
Company's credit ratings; the effect of operational risks; and the
loss of key personnel. As a result, the actual future financial
condition, performance and results of the Company may differ
materially from the plans, goals and expectations set forth in any
forward-looking statements. Any forward-looking statements made in
this Announcement by or on behalf of the Company speak only as of
the date they are made. Except as required by applicable law or
regulation, the Company expressly disclaims any obligation or
undertaking to publish any updates or revisions to any
forward-looking statements contained in this Announcement to
reflect any changes in the Company's expectations with regard
thereto or any changes in events, conditions or circumstances on
which any such statement is based.
Investec is authorised by the Prudential Regulation Authority
and regulated by the Financial Conduct Authority (the "FCA") and
the Prudential Regulation Authority in the United Kingdom and is
acting exclusively for the Company and no one else in connection
with the Placing, and Investec will not be responsible to anyone
(including any Placees) other than the Company for providing the
protections afforded to its clients or for providing advice in
relation to the Placing or any other matters referred to in this
Announcement.
No representation or warranty, express or implied, is or will be
made as to, or in relation to, and no responsibility or liability
is or will be accepted by Investec or by any of its affiliates or
agents as to, or in relation to, the accuracy or completeness of
this Announcement or any other written or oral information made
available to or publicly available to any interested party or its
advisers, and any liability therefore is expressly disclaimed.
The distribution of this announcement in certain jurisdictions
may be restricted by law. This announcement is for information
purposes only and does not constitute or form part of any offer to
issue or sell, or the solicitation of an offer to acquire, purchase
or subscribe for, any securities in the United States, Australia,
Canada, Japan, the Republic of Ireland or South Africa or in any
jurisdiction in which such offer or solicitation would be unlawful
and should not be relied upon in connection with any decision, or
as any inducement, to subscribe for or acquire any new Ordinary
Shares. In particular, this announcement does not constitute or
form part of any offer to issue or sell, or the solicitation of an
offer to acquire, purchase or subscribe for, any securities in the
United States. No public offer of securities is being made in the
United Kingdom or elsewhere.
This announcement is not an offer of securities for sale or a
solicitation of any offer to purchase securities in the United
States. Placing Shares may not be offered or sold in the United
States absent registration under the US Securities Act of 1933, as
amended (the "US Securities Act") or an exemption therefrom. The
Company has not and does not intend to register any securities
under the US Securities Act and does not intend to offer any
securities to the public in the United States. No money, securities
or other consideration from any person inside the United States is
being solicited and, if sent in response to the information
contained in this announcement, will not be accepted. The Placing
Shares have not been and will not be registered with any regulatory
authority of any state within the United States.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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