Any information about such purchases will be disclosed, as required in the UK, will be reported to a Regulatory Information Service and will be available on the London Stock Exchange website at www.londonstockexchange.com. In accordance with normal UK practice, IHLC or its nominees, or its brokers (acting as agents), may, from time to time, make certain purchases of, or arrangements to purchase, Elegant Shares outside of the United States, other than pursuant to the Acquisition, until the date on which the Acquisition becomes effective, lapses or is otherwise withdrawn. A person so entitled may also request that all future documents, announcements and information to be sent to them in relation to the Acquisition should be in hard copy form. Romantics searching for the perfect place to reconnect will relish the inspiring adults only atmosphere at The House. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure. Explore our range of hotel brands participating in Marriott Bonvoy to find properties that cater perfectly to your needs - from luxury vacations to long-stay suites. Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the Offer Period commenced and when any offeror was first identified. Elegant owns and operates seven hotels with 588 rooms and a beachfront restaurant on the island of Barbados.
All rights reserved. Important noticesPricewaterhouseCoopers LLP (''PwC"), which is authorised and regulated in the United Kingdom by the FCA, is acting as financial adviser to Marriott and IHLC and for no one else in connection with the Acquisition or other matters referred to in this Announcement and will not be responsible to anyone other than Marriott and IHLC for providing the protections afforded to its clients nor for providing advice in relation to the Acquisition, the contents of this Announcement or any other matters set out in this Announcement. The Acquisition may, in the circumstances provided for in this Announcement, instead be carried out by way of a Takeover Offer under the laws of England and Wales. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 p.m. (London time) on the Business Day following the date of the relevant dealing. We are therefore unanimously recommending the offer to shareholders.".
In keeping with Marriott's asset-light strategy, over time, Marriott also intends to market the Elegant hotels for sale subject to long-term management agreements under which Marriott would continue to manage the hotels. He said: “The board of Elegant Hotels is confident in the group’s long-term prospects but believes that this offer represents compelling value for our shareholders and a great opportunity for our employees to be part of one of the world’s leading hotel companies.
HelplineA shareholder helpline is available for Elegant Shareholders. Capitalised terms used but not defined in this announcement have the meanings given to them in the Scheme Document. The offer values the entire issued and to be issued ordinary share capital of Elegant at approximately £100.8 million ($130.1 million based on £1:$1.29). The company offers Marriott Bonvoy™, its highly-awarded travel program. Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 7,400 properties under 30 leading brands spanning 135 countries and territories. Please note that Link Asset Services cannot provide comments on the merits of the Scheme or provide any financial, legal or tax advice and calls may be recorded and monitored for security and training purposes.
The announcement from Elegant and International Hotel Licensing Company S.à r.l.
Brighton Pier Group, which Johnson chairs, also issued a profits warning. Disclosure requirements of the CodeUnder Rule 8.3(a) of the Code, any person who is interested in 1 per cent. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of: (i) the offeree company and (ii) any securities exchange offeror, save to the extent that these details have previously been disclosed under Rule 8. An Elegant Hotel | Union Square Two parts glitz and glam, two parts elegant and comfortable—this jewel box hotel is a true gem.
A hard copy of this Announcement will not be sent unless so requested. On 18 October 2019, the boards of Elegant Hotels Group plc (“Elegant”) and International Hotel Licensing Company S.à r.l. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. Liberum Capital Limited(Financial adviser, nominated adviser and broker to Elegant), International Hotel Licensing Company S.à r.l.Connie Kim, Media Relations, PricewaterhouseCoopers LLP(Financial adviser to Marriott and IHLC). As a result of the Scheme having become Effective, share certificates in respect of the Elegant Shares have ceased to be valid documents of title and entitlements to Elegant Shares held in uncertificated form in CREST are being cancelled. Biggest shareholder and former Pizza Express and Patisserie Valerie boss cashes in, Fri 18 Oct 2019 12.36 BST The MCM Eleganté Hotel is located in the Permian Basin of west Texas, situated on the southeast side of Odessa. Full text can be found below: On 18 October 2019, the boards of Elegant Hotels Group plc (“Elegant”) and International Hotel Licensing Company S.à r.l. The majority of Elegant properties are operated as all-inclusive resorts. Six of the seven properties are situated along the prestigious west coast of … Liberum Capital Limited ("Liberum"), which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively as financial adviser and broker to Elegant and for no one else in connection with the Acquisition or other matters set out in this Announcement and will not be responsible to anyone other than Elegant for providing the protections afforded to its clients nor for providing advice in relation to the Acquisition or other matters set out in this Announcement. View the full list. Marriott has completed its purchase of Elegant Hotels Group, the owner of seven hotels in Barbados. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world.
Elegant Hotels Group PLC owns and operates a chain of hotels. Any representation to the contrary is a criminal offence in the United States. The company now offers one travel program, Marriott Bonvoy™, replacing Marriott Rewards®, The Ritz-Carlton Rewards®, and Starwood Preferred Guest®(SPG). This announcement contains "forward-looking statements" within the meaning of federal securities laws, including statements related to expected leadership changes, our pipeline of new projects, and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including the risk factors that we identify in our Securities and Exchange Commission ("SEC") filings, including our most recent Quarterly Report on Form 10-Q. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world.
Luke Johnson is in line for a £12.2m payout from the sale of Elegant Hotels, the owner of seven luxury resorts in the Caribbean. If you have any questions about the Scheme Document, the Court Meeting, or the General Meeting, or how to complete the Forms of Proxy, please call Link Asset Services on +44 (0) 371 664 0321. was issued over London’s Regulatory News Service earlier today.
Information relating to Elegant ShareholdersPlease be aware that addresses, electronic addresses and certain information provided by Elegant Shareholders, persons with information rights and other relevant persons for the receipt of communications from Elegant may be provided to IHLC during the Offer Period as required under section 4 of Appendix 4 of the Code. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3. The offer price implies an enterprise value for Elegant of approximately $199.0 million based on Elegant's total net debt of $68.9 million as at 31 March 2019 as set out in Elegant's most recent half year report for the six months ended 31 March 2019. A transaction effected by means of a scheme of arrangement is not subject to the proxy solicitation or tender offer rules under the Exchange Act and is exempt from the registration requirements of the Securities Act.
Photograph: Alamy Luke Johnson is in line for a £12.2m payout from the sale of Elegant Hotels, the owner of seven luxury resorts in the Caribbean. In particular, the ability of persons who are not resident in the UK to vote their Elegant Shares at the Court Meeting or General Meeting, or to appoint another person as proxy to vote at the Court Meeting or General Meeting on their behalf, may be affected by the laws of the relevant jurisdictions in which they are located. Elegant, which was formed in 1998, owns the upmarket Italian restaurant Daphne’s and seven luxury hotels on Barbados. Following the acquisition, Marriott intends to carry out renovations to the hotels in the Elegant portfolio. An Elegant Hotel. Additional information for US investorsThe Acquisition relates to the shares of a UK company and is being made by means of a scheme of arrangement provided for under the laws of England and Wales. Calls to this number from outside the UK will be charged at the applicable international rate. Marriott International, Inc. (NASDAQ: MAR) announced that it has completed its acquisition of Elegant Hotels Group plc. Copies of this Announcement and any formal documentation relating to the Acquisition will not be and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in, into or from any Restricted Jurisdiction or any jurisdiction where to do so would violate the laws of that jurisdiction and persons receiving such documents (including custodians, nominees and trustees) must not mail or otherwise forward, distribute or send them in, into or from any Restricted Jurisdiction. Map Attractions 580 Geary Street San Francisco, CA, 94102 (415) 441-2700. In August, Marriott launched an all-inclusive platform with the goal of growing a worldwide portfolio of resorts in popular vacation segments by leveraging the company's operational and development expertise, its Marriott Bonvoy travel program with roughly 133 million members, and its iconic hotel brands.
This Announcement has been prepared for the purpose of complying with the laws of England and Wales, Market Abuse Regulation, AIM Rules and the Code and the information disclosed may not be the same as that which would have been disclosed if this Announcement had been prepared in accordance with the laws of jurisdictions outside of England and Wales. Unless otherwise determined by IHLC or required by the Code, and permitted by applicable law and regulation, the Acquisition will not be made available directly or indirectly in, into or from a Restricted Jurisdiction where to do so would violate the laws in that jurisdiction and no person may vote in favour of the Acquisition by use of mail or any other means or instrumentality (including, without limitation, facsimile, email or other electronic transmission, telex or telephone) of interstate or foreign commerce of, or any facility of a national, state or other securities exchange of, any Restricted Jurisdiction.