International Hotel Investments (IHI) said today it has so far received acceptances amounting to 97.2 per cent of the entire issued share capital of Island Hotels Group Holdings (IHGH).
In a statement on the Malta Stock Exchange, it referred to the offer made to IHGH shareholders pursuant to a voluntary public bid for the acquisition of the entire issued share capital of IHGH, and said that since the opening of the acceptance period on July 2, it received acceptances for the combined consideration for 97.12 per cent of the shares in IHGH and acceptances for the cash alternative for 0.08 per cent of the shares.
IHI said it will issue a final update at the end of the offer acceptance period, on or around July 31.