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Shareholding in International Hotel Group Ltd

15 Oct 2015 07:00

RNS Number : 3129C
Redefine International PLC
15 October 2015
 



REDEFINE INTERNATIONAL P.L.C.

 

("Redefine International" or the "Company")

(Registered number 010534V)

LSE share code: RDI

JSE share code: RPL

ISIN: IM00B8BV8G91

 

REDEFINE INTERNATIONAL ACQUIRES SHARES IN INTERNATIONAL HOTEL GROUP LIMITED

 

 

Redefine International, the FTSE 250 income focused UK Real Estate Investment Trust ("UK-REIT"), announces that it is has acquired a 25.35% shareholding in the International Hotel Group Limited ("IHGL") for c. £3.8million.

 

IHGL is a hotel and leisure focused property investment company which owns three hotels in the UK and is listed on the Euro MTF Market of the LuxSE and the AltX of the JSE (JSE share code: IHL).

 

Commenting, CEO Mike Watters said:

 

"This investment in IHGL is part of our overall hotel investment strategy, which includes our 25% holding in the Redefine BDL Hotel Group, the UK's leading independent hotel management company.

 

"We expect IHGL to grow into a significant hotel investment vehicle over the medium term and look forward to superior risk adjusted returns being achieved by its highly rated management team."

 

For further information:

 

Redefine International P.L.C.

 

Michael Watters, Stephen Oakenfull

 

Tel: +44 (0) 20 7811 0100

FTI Consulting

UK Public Relations Adviser

Dido Laurimore, Claire Turvey, Ellie Sweeney

 

FTI Consulting

SA Public Relations Adviser

Max Gebhardt

 

Tel: +44 (0) 20 3727 1000

 

 

Tel: +27 (0) 11 214 2402

JSE Sponsor

Java Capital

 

 

Tel: +27 (0) 11 722 3050

 

Notes to editors:

Redefine International (RDI) is a FTSE 250 income focused UK-REIT with a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.

 

The Group's investment portfolio is diversified across the retail, commercial and hotel sectors and in the UK and Germany with an aggregate value in excess of £1.3 billion.

 

Redefine International is focused on delivering sustainable and growing income to shareholders through investment in income yielding assets let to high quality occupiers on long leases. Capital values are enhanced and protected by asset management and other low capex development activities.

 

As a UK-REIT, the Group aims to distribute the majority of its earnings available for distribution on a semi-annual basis, providing investors with attractive income returns as well as exposure to capital growth opportunities.

 

www.redefineinternational.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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