4th Feb 2005 07:00
Hotel Corp (The) PLC04 February 2005 4 February 2005 Embargoed for release at 7.00am The Hotel Corporation plc (the "Company") Further investment in Dawnay Shore Hotels plc The Company is pleased to announce that it has subscribed for a further 13 newUnits in Dawnay Shore Hotels plc ("DSH") at a cost of £1,365,000. On 17 December 2004, the Company announced that it had raised a further £13.25mto subscribe for additional units in DSH, in conjunction with the acquisition byDSH of three major conferencing and leisure hotels. At that time the Companysubscribed £10.6m for 101 Units in DSH at a price of £105,000 per Unit andstated that the balance of the net proceeds was being retained for futureinvestment purposes. Subsequent to the subscription by the Company on 17 December 2004, DSH hasraised a further £1,155,000 through the issue of 11 Units to private equityinvestors at £105,000 per Unit. DSH has offered the opportunity to the Companyto subscribe for additional units at this price which the Company has taken up.The additional funding in DSH will be available as working capital and toprovide equity finance for future acquisitions or capital expenditure. This new subscription brings the total investment by the Company into DSH to£33,670,000. As a result of this subscription, the Company currently holds 49.9per cent. of the issued share capital of DSH. Enquiries: The Hotel Corporation plcBarclay Douglas 07771 824 440 Shore CapitalGraham Shore 020 7408 4090 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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