HOTEL informs about the increase in its floating stock
MEXICO CITY, March 25, 2019 (GLOBE NEWSWIRE) -- Grupo Hotelero Santa Fe, S.A.B. Of C.V. (BMV: HOTEL) ("HOTEL" or "the Company"), one of the leading companies in the hotel industry in Mexico, announces that Nexxus Capital, one of the founders of the Company, through its fund Nexxus Capital Private Equity Fund III L.P. (“Nexxus”), has begun the process of distributing all of their HOTEL shares among its investors (Limited Partners), equivalent to 19.1% (93,985,417 shares) of total outstanding shares. This distribution corresponds to Nexxus’ natural exit plan as a temporary investor.
Before this distribution, the floating stock of the company was 227,339,831 shares, equivalent to 46.3% of total outstanding shares. Consequently, the percentage of floating stock will reach 65.4% (321,385,248 shares). The process of distributing shares will be finalized during the month of March.
Lastly, the Company will benefit from this action in the short and long term, as its liquidity should increase and support the Company’s objective of enhancing shareholder value.
About Grupo Hotelero Santa Fe
Hotel is a leading company in the Mexican hotel industry, focused on acquisitions, use conversions, development and operation of its own hotels as well as third party-owned hotels. The Company focuses on strategic hotel location and quality, a unique hotel management model, strict expense control and the proprietary Krystal® brand as well as other international brands. As of year-end 2018, the Company employed over 3,500 people and generated revenues of Ps. 2,065 million. For more information, please visit gsf-hotels.com
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Legal Note on Forward Looking Statements: The information provided in this report contains certain forward-looking statements and information related HOTEL and its subsidiaries which are based in the understanding of its managers, as well as in assumptions and information currently available for the Company. Such statements reflect the current view of Grupo Hotelero Santa Fe in regard to future events subject to a number of risks, uncertainties and assumptions. Several features may cause that the results, performance or current achievements of the Company may differ materially with respect to future results, performance or attainments of Grupo Hotelero Santa Fe that may be included, expressly or implied within such statements in regard to the future, including among others, alterations in the economic general conditions and/or politics, governmental and commercial changes globally or within the countries in which the Company has any business interests, changes in the interests rates and inflation, exchange rates volatility, changes in the demand and regulations of the products marketed by the Company, changes in the price of raw materials and other goods, changes in the business strategies and several other features. If one or more these of risks or uncertainties are materialized, or if the assumptions used result to be incorrect, the real results may materially differ from those described herein as anticipated, believed, expected or envisioned. Grupo Hotelero Santa Fe undertakes no obligation to update or revise any forward-looking statements. |
Contact Information
Enrique Martínez Guerrero
CFO
+52 55 5261 0800
Maximilian Zimmermann
IR Director
+52 55 5261 4508
