International Hotel Investments plc - Change in Shareholding

On 7 May 2010 International Hotel Investments plc announced that on 22 April 2010 Corinthia Palace Hotel Company Ltd (CPHCL) and Libyan Foreign Investment Company (LFICO) entered in a sale and purchase agreement with Istithmar Hotel FZE whereby LFICO acquired 11% of the issued share capital of IHI (61,113,332 shares) from Istithmar at the nominal value of €1 per share. The agreement also included a call option on the part of CPHCL to purchase up to half of that 11% (i.e. 5.5% of the issued share capital of IHI) from LFICO within 18 months from the date of transfer. Following this transaction, the shareholding structure of IHI is as follows:

  • CPHCL: 58.9%
  • Istithmar: 22.1%
  • LFICO: 11%
  • General Public: 8%

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