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DUBLIN - Dalata Hotel Group PLC (DAL, DHG) and Pandox Ireland Tuck Limited announced Thursday they have dispatched proposal letters to holders of subsisting awards and options in connection with Pandox’s recommended cash offer to acquire Dalata.
The proposals, dated August 14, have been sent to individuals holding options or awards under Dalata’s 2017 Long Term Incentive Plan, the Irish Sharesave Scheme, and the UK Sharesave Scheme.
These communications outline details regarding the treatment of outstanding equity awards as part of the proposed acquisition, which will be implemented through a scheme of arrangement under Irish law.
Pandox Ireland Tuck Limited is a newly-incorporated company wholly-owned by Pandox AB and Eiendomsspar AS.
According to the announcement, the proposal documents have been made available for inspection on both companies’ investor relations websites. The dispatches comply with Rule 15(c) of the Irish Takeover Panel Act, 1997, Takeover Rules, 2022.
The companies did not disclose the specific terms of the proposals or the financial details of the acquisition in this announcement.
This information is based on a press release statement issued by the companies.
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