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Irish Independent
23-06-2025
- Business
- Irish Independent
No new offer made for Dalata, board says
Earlier this month the board of Dalata rejected the offer of €6.05 per share by Pandox and Eiendomsspar, equivalent to a valuation of €1.3bn, saying it materially undervalued the group. The offer represented a premium of just over 27pc on the €4.76 closing price of March 5, the last trading day before Dalata announced it was launching a strategic review, with one option being a sale. The consortium announced on Friday that it had bought almost 1.7 million shares in Dalata, at €6.30. The stock was at €6.38 in early trading on Euronext Dublin today. The company, which owns 55 hotel properties in Britain and Ireland, is also listed in London. In a statement to investors, Dalata said it noted the announcement by the consortium of its purchase of another 0.8pc of the issued share capital. However it pointed out that the Pandox-led consortium had not made an offer for the company at that level. 'Since the Pandox possible offer of €6.05 per share approximately three weeks ago, the consortium has not submitted any further proposal to the board,' the statement said. 'Shareholders are advised to take no action in relation to the Pandox consortium announcement. The board continues to engage with parties who are participating in the Formal Sales Process and who have submitted revised non-binding cash proposals to acquire the entire issued and to be issued share capital of the group. 'A further announcement will be made as appropriate.' In accordance with Irish Takeover Rules, the Scandinavian consortium has until July 15 to either announce a firm intention to make an offer for Dalata, whose chief executive is Dermot Crowley, or to withdraw from the process. Eiendomsspar, one of the largest property owners in Norway, with its portfolio including 11 hotels, already had an 8.8pc stake in Dalata at the time of its bid. It controls 36pc of the shares in Pandox, a Swedish firm that owns 163 hotels across 11 countries in Europe, with about 36,000 rooms. Based in Stockholm, Pandox develops and then leases hotels to operators under long-term deals. Its hotels in Ireland operate under the Leonardo brand. The consortium's bid was unexpected, as it had not engaged in the formal sales process launched in May, which is being managed by the investment bank Rothschild. A number of American investment firms have submitted bids for Dalata, according to reports by Green Street, a property news website. They are said to include Bain, Apollo and Starwood, which already owns 2.7pc of Dalata through an affiliate. Several international financial institutions have increased their shareholdings in Dalata since the sales process started. They include the British bank Barclays, the French banks BNP Paribas and Societe Generale, and the international asset manager BlackRock. The businessman Barry English has also emerged as a shareholder. He already owns the five-star Mount Juliet estate in Kilkenny, Trim Castle Hotel, and the Johnstown Estate Hotel in Enfield.
Yahoo
15-05-2025
- Business
- Yahoo
Rule 2.12 Announcement
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION THIS IS AN ANNOUNCEMENT FOR THE PURPOSES OF RULE 2.12 OF THE IRISH TAKEOVER PANEL ACT 1997, TAKEOVER RULES, 2022 (THE 'IRISH TAKEOVER RULES') 8 May 2025 Kenmare Resources plc Rule 2.12 Announcement In accordance with Rule 2.12 of the Irish Takeover Rules, Kenmare confirms that, as at the date of this announcement, the Company's issued share capital comprises 89,228,161 ordinary shares with a nominal value of €0.001 each ("Ordinary Shares"). Kenmare does not have any Ordinary Shares which are held as treasury shares. In addition, there are options over 3,076,278 Ordinary Shares outstanding under the Company's restricted share plan (including accrued dividend equivalents). The Ordinary Shares are admitted to trading on the Official List of Euronext Dublin and the premium listing segment of the Official List of the FCA. The International Securities Identification Number for the Ordinary Shares is IE00BDC5DG00. Enquiries: Kenmare Resources plcKatharine Sutton Investor Relations +353 1 671 0411 Responsibility StatementThe Directors of Kenmare accept responsibility for the information contained in this announcement. To the best of their knowledge and belief (having taken all reasonable care to ensure such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information. Disclosure requirements of the Irish Takeover RulesUnder Rule 8.3(b) of the Irish Takeover Rules, any person 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of Kenmare must disclose all 'dealings' in such 'relevant securities' during the 'offer period'. The disclosure of a 'dealing' in 'relevant securities' by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (Irish/UK time) on the business day following the date of the transaction. A dealing disclosure must contain the details specified in Rule 8.6(b) of the Irish Takeover Rules, including details of the dealing concerned and of the person's interests and short positions in any 'relevant securities' of Kenmare. If two or more persons co-operate on the basis of an agreement, either express or tacit, either oral or written, to acquire for one or more of them an interest in relevant securities, they will be deemed to be a single person for these purposes. Disclosure tables, giving details of the companies in whose 'relevant securities' 'opening positions' and 'dealings' should be disclosed, can be found on the Takeover Panel's website at 'Interests' in securities arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities. Terms in quotation marks in this section are defined in the Irish Takeover Rules, which can also be found on the Irish Takeover Panel's website. If you are in any doubt as to whether or not you are required to disclose a dealing or an opening position under Rule 8, please consult the Irish Takeover Panel's website at or contact the Irish Takeover Panel on telephone number +353 1 678 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-04-2025
- Business
- Yahoo
Rule 2.12 Announcement
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION THIS IS AN ANNOUNCEMENT FOR THE PURPOSES OF RULE 2.12 OF THE IRISH TAKEOVER PANEL ACT 1997, TAKEOVER RULES, 2022 (THE 'IRISH TAKEOVER RULES') 3 April 2025 Kenmare Resources plc Rule 2.12 Announcement In accordance with Rule 2.12 of the Irish Takeover Rules, Kenmare confirms that, as at the date of this announcement, the Company's issued share capital comprises 89,228,161 ordinary shares with a nominal value of €0.001 each ("Ordinary Shares"). Kenmare does not have any Ordinary Shares which are held as treasury shares. In addition, there are options over 3,305,415 Ordinary Shares outstanding under the Company's restricted share plan (including accrued dividend equivalents). The Ordinary Shares are admitted to trading on the Official List of Euronext Dublin and the premium listing segment of the Official List of the FCA. The International Securities Identification Number for the Ordinary Shares is IE00BDC5DG00. Enquiries: Kenmare Resources plcKatharine Sutton Investor Relations +353 1 671 0411 Responsibility StatementThe Directors of Kenmare accept responsibility for the information contained in this announcement. To the best of their knowledge and belief (having taken all reasonable care to ensure such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information. Disclosure requirements of the Irish Takeover RulesUnder Rule 8.3(b) of the Irish Takeover Rules, any person 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of Kenmare must disclose all 'dealings' in such 'relevant securities' during the 'offer period'. The disclosure of a 'dealing' in 'relevant securities' by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (Irish/UK time) on the business day following the date of the transaction. A dealing disclosure must contain the details specified in Rule 8.6(b) of the Irish Takeover Rules, including details of the dealing concerned and of the person's interests and short positions in any 'relevant securities' of Kenmare. If two or more persons co-operate on the basis of an agreement, either express or tacit, either oral or written, to acquire for one or more of them an interest in relevant securities, they will be deemed to be a single person for these purposes. Disclosure tables, giving details of the companies in whose 'relevant securities' 'opening positions' and 'dealings' should be disclosed, can be found on the Takeover Panel's website at 'Interests' in securities arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities. Terms in quotation marks in this section are defined in the Irish Takeover Rules, which can also be found on the Irish Takeover Panel's website. If you are in any doubt as to whether or not you are required to disclose a dealing or an opening position under Rule 8, please consult the Irish Takeover Panel's website at or contact the Irish Takeover Panel on telephone number +353 1 678 in to access your portfolio
