International Hotel Investments plc: Signature of a Heads of Terms Agreement with United Development Company of Qatar



The following is a company announcement issued by International Hotel Investments plc (IHI) in accordance with the Capital Markets Rules issued by the Malta Financial Services Authority.

Signing of a mandate agreement with the

Qatar United Development Corporation

IHI is pleased to inform its shareholders that it has entered into a preliminary term sheet with United Development Company of Qatar (UDC) to assess a possible subscription for shares in the company.

The term sheet provides that subject to receipt of all necessary approvals, satisfactory completion of a due diligence process and satisfactory negotiation and completion of all required definitive agreements, UDC will subscribe to 100 000,000 new shares to be issued by the Company at a subscription price of €1.22 per share and, in addition, benefit from an option to subscribe to a 200,000,000 additional new shares within one year at a price of €1.28 per share.

UDC is the owner and developer of The Pearl in Doha, Qatar, a luxury residential, commercial, social and hospitality development. UDC is a listed company whose main shareholder is the Qatar Pension Fund.

As a next step, during the IHI AGM on 9 June 2022, the Company will seek shareholder approval for disclose information to UDC. The Company will also ask shareholders to authorize its directors to issue and allot up to 300,000,000 new shares.

The announcement comes on the heels of steadily improving performance by IHI. The financial statements for 2021 released last month clearly show that the Company is on track to recover from the global impact of the pandemic. The Company now expects 2022 financial results to exceed the latest years and year-to-date performance confirms that budgets are being met.

Jean-Pierre Schembri

Company Secretary

April 28, 2022

22 European Center Floriana FRN 1400 Malta Tel (356) 21233141 Fax (356) 21234219 Email:[email protected] Co. Reg. No: C26136


International Hotel Investments plc published this content on April 28, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on Apr 28, 2022 2:42:08 PM UTC.


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