7th Aug 2008 16:13
|
For immediate release |
7 August 2008 |
Millennium & Copthorne Hotels plc ("M&C")
Result of EGM relating to the proposed disposal of CDL Hotels (Korea) Limited
On 24 June 2008, M&C announced the proposed disposal (the "Proposed Disposal") by CDL Hotels (Labuan) Limited ("CDL Labuan") of CDL Hotels (Korea) Limited to Kangho AMC Co. Ltd ("Kangho"). CDL Hotels (Korea) Limited is a wholly owned subsidiary of M&C with one principal asset, namely, the Millennium Seoul Hilton Hotel, located at 395, 5-ga, Namdaemun-ro, Chung-gu, Seoul, South Korea. Completion of the Proposed Disposal is conditional on, inter alia, approval by M&C's shareholders.
M&C announces that earlier today, at the general meeting of the Company, an ordinary resolution approving the Proposed Disposal under the Disposal Agreement with Kangho, details of which are described in the circular to shareholders dated 22 July 2008, was duly passed.
Completion of the Proposed Disposal is to take place on 30 September 2008 (or such other date as Kangho and CDL Labuan shall agree).
Two copies of the resolution passed at the general meeting shall be submitted to the Financial Services Authority (the "FSA") today and will be available for inspection at the FSA Document Viewing Facility from tomorrow, which is situated at:
The Financial Services Authority
25 The North
Colonnade
Canary Wharf
London
E14 5HS
Tel: 020 7066 1000
Details of proxy voting instructions lodged prior to the general meeting are set out below:
|
Resolution |
For |
Against |
Withheld |
|
To approve the Proposed Disposal |
263,735,572 |
805 |
175,486 |
For Further Information
Adrian Bushnell + 44 (0) 20 7872 2444
Company Secretary
Related Shares:
Millennium & Copthorne Hotels