By Devika Patel
Knoxville, Tenn., June 10 - Hotel Corp. plc said it will take in £12.16 million through a private placement of shares.
The company will sell 15.2 million ordinary shares at 80p apiece.
The deal is not being underwritten.
Proceeds will be used to purchase some of Puma Hotels plc's new convertible preference shares.
The company is based in Douglas, Isle of Man, and invests in four-star hotels.
| Issuer: | Hotel Corp. plc
|
| Issue: | Ordinary shares
|
| Amount: | £12.16 million
|
| Shares: | 15.2 million
|
| Price: | 80p
|
| Warrants: | No
|
| Pricing date: | June 10
|
| Stock symbol: | London: HCP
|
| Stock price: | 90p at close June 10
|
| Market capitalization: | £40.7 million
|
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