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United Kingdom

Millennium & Copthorne Hotels PLC (MLC.L)

MLC.L on London Stock Exchange

462.50GBp
23 Oct 2018
Change (% chg)

-9.00 (-1.91%)
Prev Close
471.50
Open
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Volume
112,546
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456.00

Latest Key Developments (Source: Significant Developments)

Millennium & Copthorne Hotels says Jennifer Fox to step down as group CEO
Friday, 28 Sep 2018 

Sept 28 (Reuters) - Millennium & Copthorne Hotels PLC ::DIRECTORATE CHANGE.LEAVING OF GROUP CHIEF EXECUTIVE OFFICER.JENNIFER FOX TO STEP DOWN FROM HER POSITION AS GROUP CHIEF EXECUTIVE OFFICER.TAN KIAN SENG WILL RESUME POSITION AS INTERIM GROUP CHIEF EXECUTIVE OFFICER AS FROM 28 SEPTEMBER 2018.  Full Article

Singapore's CDL says M&C offer extended to Jan. 26
Tuesday, 23 Jan 2018 

Jan 23 (Reuters) - City Developments Limited ::OFFER UPDATE.‍UPDATE ON RECOMMENDED FINAL CASH OFFER FOR MILLENNIUM & COPTHORNE HOTELS BY AGAPIER INVESTMENTS LIMITED​.‍AS AT 1.00 P.M. ON 23 JAN, VALID ACCEPTANCES HAD BEEN RECEIVED FOR ABOUT 44.21 PERCENT OF OFFEREE SHARES NOT ALREADY OWNED BY CDL PARTIES​.‍FINAL OFFER IS BEING EXTENDED AND WILL REMAIN OPEN FOR ACCEPTANCE UNTIL 1.00 P.M. ON 26 JANUARY 2018​.  Full Article

MSD Partners Writes to Independent Directors on Millennium & Copthorne Hotels deal
Thursday, 14 Dec 2017 

Dec 14 (Reuters) - MSD Partners LP::MSD PARTNERS LP SAYS ‍LETTER WAS PROVIDED BY SHAREHOLDERS IN MILLENNIUM & COPTHORNE HOTELS PLC TO INDEPENDENT COMMITTEE OF BOARD OF DIRECTORS​."WE WILL NOT TENDER OUR SHARES INTO THIS UNATTRACTIVE OFFER AT ANY TIME TO HELP CDL REACH ACCEPTANCE THRESHOLD OF ITS OFFER".MSD PARTNERS LP SAYS ‍CURRENT OFFER, WHICH IS A FINAL OFFER, FROM CDL "REMAINS HIGHLY OPPORTUNISTIC AND SIGNIFICANTLY UNDERVALUES M&C​".LETTER RAISES CONCERN OVER "INADEQUATE REPRESENTATION OF SHAREHOLDER INTERESTS BY INDEPENDENT COMMITTEE".LETTER RAISES CONCERNS OVER "CORPORATE GOVERNANCE ISSUES THAT CDL OFFER HAS HIGHLIGHTED".M&C HAS "EXCELLENT PROSPECTS" AS STANDALONE BUSINESS; "SHOULD SEEK TO MAXIMIZE SHAREHOLDER VALUE".  Full Article

Millennium & Copthorne reports Q3 pretax profit of 55 mln stg
Monday, 30 Oct 2017 

Oct 30 (Reuters) - MILLENNIUM & COPTHORNE HOTELS PLC : :MILLENNIUM & COPTHORNE HOTELS PLC - ‍NINE MONTHS AND Q3 RESULTS TO 30 SEPTEMBER 2017​.MILLENNIUM & COPTHORNE HOTELS PLC - Q3 ‍REVPAR £89.75 VERSUS £85.78​ LAST YEAR.MILLENNIUM & COPTHORNE HOTELS PLC - ‍Q3 REVENUE TOTAL £263M VERSUS £247M​ LAST YEAR.MILLENNIUM & COPTHORNE HOTELS PLC - ‍Q3 REVENUE - HOTEL £231M VERSUS £221M​ LAST YEAR.MILLENNIUM & COPTHORNE HOTELS PLC - Q3 ‍PROFIT BEFORE TAX £55M VERSUS £46M​ LAST YEAR.MILLENNIUM & COPTHORNE HOTELS PLC - ‍ON A CONSTANT CURRENCY BASIS, GROUP REVPAR WAS UP BY 1.8% FOR THREE WEEKS ENDED 21 OCTOBER 2017​.MILLENNIUM & COPTHORNE - ‍ON A LIKE-FOR-LIKE BASIS, THREE-WEEKS TO OCT 21, GROUP REVPAR INCREASED BY 0.7%, NEW YORK UP BY 3.3%, AUSTRALASIA UP BY 8.0%​.  Full Article

City Developments says ‍possible cash offer for Millennium & Copthorne Hotels by City Developments
Monday, 9 Oct 2017 

Oct 9 (Reuters) - Millennium & Copthorne Hotels Plc :CITY DEVELOPMENTS LTD STATEMENT RE POSSIBLE OFFER.‍POSSIBLE CASH OFFER FOR MILLENNIUM & COPTHORNE HOTELS PLC ("M&C") BY CITY DEVELOPMENTS LIMITED​.‍COS HAVE REACHED AGREEMENT ON PRICE AT WHICH M&C INDEPENDENT DIRECTORS WOULD RECOMMEND A POSSIBLE CASH OFFER TO BE MADE.‍UNDER TERMS OF PROPOSED OFFER, SHAREHOLDERS IN M&C WOULD BE ENTITLED TO RECEIVE 552.5 PENCE IN CASH FOR EACH M&C SHARE HELD​.‍OFFER REPESENTS A PREMIUM OF APPROXIMATELY 23.7 PER CENT. TO CLOSING PRICE PER M&C SHARE OF 446.7 PENCE ON 18 AUGUST 2017​.‍PROPOSED OFFER WOULD BE MADE UP OF A CASH AMOUNT OF 545 PENCE PER M&C SHARE, AND A SPECIAL DIVIDEND OF 7.5 PENCE PER M&C SHARE​.‍M&C INDEPENDENT DIRECTORS, ADVISED BY CREDIT SUISSE, CONSIDER FINANCIAL TERMS OF PROPOSED OFFER TO BE FAIR AND REASONABLE​.‍OFFER VALUES ENTIRE ISSUED ORDINARY SHARE CAPITAL OF M&C AT APPROXIMATELY £1,794 MILLION​.  Full Article

Millennium & Copthorne says Q3 pretax profit up 9.5 pct
Wednesday, 2 Nov 2016 

Millennium & Copthorne Hotels Plc : 3rd quarter results . Steep fall in value of sterling after June 23 2016 referendum had a significant impact on group's results . Exchange gains adding 43 mln stg and 7 mln stg to group reported revenue and profit before tax respectively for first nine months of 2016 . Group revPAR in reported currency was up 3.5 pct but in constant currency fell by 3.2 pct in first nine months of 2016 . Total revenue in reported currency for first nine months grew by 8.1 pct to 665 mln stg . Hotel revenue in constant currency declined by 2.8 pct to 581 mln stg during first nine months of 2016 . Third-Quarter occupancy increased by 4.8 pct points for group's London hotels, reflecting higher inbound tourism . Profit before tax in constant currency for Q3 of 2016 increased by 9.5 pct and by 27.8 pct in reported currency . London hotels have seen some positive benefits from leisure travellers following EU referendum in June 2016 -chairman . Outlook for UK economy is uncertain - chairman .Trading of our New York and Singapore hotels was disappointing and we continued to focus on improving margins - chairman.  Full Article

M&C Hotels chief leaves after just three months in charge

The chief executive of Britain's Millennium & Copthorne Hotels (M&C) has stepped down after only three months in the top job, leaving with a payoff in excess of one million pounds.