Last checked at 24 Jul 2008 15:20
24 July 2008
Park Plaza Hotels Limited
("Park Plaza" or "the Company")
Share Dealings
Park Plaza announces that it received notification on 21 July 2008 that Euro Plaza Holdings B.V. ("Euro Plaza") has transferred its entire 70% holding in PPHL Holding B.V. ("PPHL Holding") to Atlantic Pacific Enterprises B.V. ("Atlantic Pacific"), its 100% parent company, and Euro Plaza has therefore ceased to be interested in the 358,274 shares of Park Plaza owned by PPHL Holding thereby reducing Euro Plaza's holding of voting rights in Park Plaza to 17,376,900 shares representing 41.69% of the total voting rights.
PPHL Holding is now owned 70% by Atlantic Pacific and 30% by Rausing Limited, a company wholly owned by Molteno Limited ("Molteno"). Both Atlantic Pacific and Molteno are significant shareholders of Park Plaza and are deemed to be interested in 100% of the shares owned by PPHL Holding. Atlantic Pacific is also deemed to be interested in the 17,376,900 shares owned by Euro Plaza.
As disclosed in the Park Plaza Admission Document, Eli Papouchado, Park Plaza's Chairman, is deemed to be interested in shares held by Atlantic Pacific and Boris Ivesha, Park Plaza's CEO, is deemed to be interested in shares held by Molteno. Both Eli Papouchado and Boris Ivesha are therefore deemed to be interested in 100% of the shares owned by PPHL Holding.
Mr Papouchado's and Mr Ivesha's deemed holdings in the Company are unaffected by the transfer described above.
Enquiries:
| Park Plaza Hotels | Tel: +44 (0)20 7034 4800 |
| Chen Moravsky, Chief Financial Officer | |
| Hudson Sandler | Tel: +44 (0)20 7796 4133 |
| Wendy Baker / Fran Read |