Playa Hotels & Resorts N.V. Announces Intention to Delist Public Warrants Following Completion of Mandatory Exchange
FAIRFAX, Va., July 07, 2017 (GLOBE NEWSWIRE) -- Playa Hotels & Resorts N.V. (NASDAQ:PLYA) (NASDAQ:PLYAW) (the “Company”) today announced that it has submitted written notice to the NASDAQ Stock Market LLC (“NASDAQ”) of its intention to voluntarily delist its warrants traded under the symbol “PLYAW” (the “Public Warrants”) from NASDAQ. The Company is delisting the Public Warrants in connection with its previously announced mandatory exchange of all of its outstanding Public Warrants for ordinary shares of the Company at an exchange ratio of 0.09 ordinary shares for each Public Warrant. After the completion of the mandatory exchange, the Company will have no outstanding Public Warrants. The Company intends to complete the mandatory exchange on or about July 17, 2017.
The Company currently anticipates that, on or about July 17, 2017, the Company will file with the Securities and Exchange Commission (the “SEC”) and NASDAQ a Form 25 relating to the delisting of the Public Warrants. The Company expects that trading in the Company’s Public Warrants will be suspended on the date that the Form 25 is filed, with the official delisting of the Public Warrants becoming effective ten days thereafter. Accordingly, the Company anticipates that trading of the Public Warrants on NASDAQ will be suspended on or about July 17, 2017 and that the Public Warrants will be delisted from NASDAQ on or about July 27, 2017.
Playa Hotels & Resorts
Playa Hotels & Resorts N.V. is a leading owner, operator and developer of all-inclusive resorts in prime beachfront locations in popular vacation destinations in Mexico and the Caribbean. Playa owns a portfolio consisting of 13 resorts (6,142-rooms) located in Mexico, the Dominican Republic and Jamaica. Playa owns and manages Hyatt Zilara and Hyatt Ziva Cancun, Hyatt Zilara Rose Hall and Hyatt Ziva Rose Hall in Jamaica, Hyatt Ziva Puerto Vallarta and Hyatt Ziva Los Cabos. The Company also owns and operates three resorts under Playa’s brands, THE Royal and Gran Resorts, as well as five resorts in Mexico and the Dominican Republic that are managed by a third party.
Forward looking statements
This press release contains ‘‘forward-looking statements,’’ as defined by federal securities laws. Forward-looking statements reflect the Company’s current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words “believe,” “expect,” “anticipate,” “will,” “could,” “would,” “should,” “may,” “plan,” “estimate,” “intend,” “predict,” “potential,” “continue,” and the negatives of these words and other similar expressions generally identify forward looking statements. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in the Company’s Registration Statement on Form S-4, filed with the SEC on June 6, 2017, as such factors may be updated from time to time in the Company’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company’s filings with the SEC. While forward-looking statements reflect the Company’s good faith beliefs, they are not guarantees of future performance. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based only on information currently available to the Company (or to third parties making the forward-looking statements).
Ryan HymelPlaya Hotels & ResortsIR@playaresorts.com
Playa Hotels & Resorts