Island Hotels Group Holdings plc - Opinion on Voluntary Offer

Friday, July 3rd, 2015

On 3 July, Island Hotels Group Holdings plc (IHG) issued an announcement explaining that its Board of Directors evaluated the voluntary public offer received from International Hotel Investments plc (IHI) related to the intention to acquire the entire issued share capital of IHG.

The Board of Directors of IHG is of the opinion that the acquisition of IHG will be beneficial to the Company, will create greater business opportunities identified within IHG’s existing markets, create significant operational synergies and efficiencies in existing operations all round, and provide a stronger platform for international growth.

The announcement also noted that a number of shareholders of IHG including T.M.C. 2 Limited, Double You Limited, Double You Holdings Company Limited, T Limited and TZ Holdings Company Limited, which cumulatively hold shares representing over 91% of the issued ordinary share capital of the Company, had pursuant to the conditional agreement entered into with the Offeror undertaken in favour of the Offeror that in the event that an offer were to be made to them by the Offeror on the terms and under the conditions provided for in the conditional agreement, they would be bound to accept such offer for all their shares in the Company.

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