PPHE Hotel Group Ltd - Guernsey-registered developer and operator of hotels under Park Plaza, Arena and art'otel brands - Starts on Thursday share buyback worth up to GBP4.0 million. The buyback will be run by US investment bank Jefferies and will end by July 10 next year at the latest. PPHE says the buyback is aimed at closing the discount of its share price to its EPRA net reinstatement value, which was GBP26.72 per share on December 31, double the current share price. PPHE noted that the 'concert party', meaning its major shareholders, will not sell any of their shares as part of the buyback.

Current stock price: 1,322.60 pence

12-month change: up 20%

By Tom Waite, Alliance News editor

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