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AMTD Group Announces Significant Progress in Hotel Portfolio
AMTD Group, AMTD IDEA Group (AMTD), AMTD Digital (HKD) and The Generation Essentials Group (TGE), a subsidiary of AMTD Digital, jointly announce "significant progress" in building the AMTD-branded hotel portfolio: China: iclub AMTD Sheung Wan Hotel in Hong Kong SAR; Singapore: Dao by Dorsett AMTD Hotel in Singapore; United Kingdom: AMTD Dao by Dorsett Hornsey Hotel in London; Malaysia: AMTD IDEA KL Hotel in Kuala Lumpur; United States: AMTD IDEA Tribeca Hotel in New York. The ownership of these hotel properties will be restructured and held under AMTD Hotels Group, forming a unified, globally connected hospitality platform.
AMTD Group Repurchases Approximately 7,500,000 Shares
AMTD Group, AMTD IDEA Group (AMTD), AMTD Digital Inc. (HKD) and The Generation Essentials Group (TGE), a subsidiary of AMTD Digital, jointly announce that under the share repurchase programs established and implemented by the Group, the approximate cumulative number of shares repurchased as of the date of this announcement is as follows: AMTD IDEA Group: 4,417,036 American depositary shares; AMTD Digital Inc.: 2,798,473 American depositary shares; TGE: 284,538 ordinary shares. The Group reaffirms its strong confidence in its long-term prospects. The boards of directors of AMTD IDEA, AMTD Digital, and TGE each believe that AMTD is well positioned for sustainable long-term growth, supported by diversified operations across multiple sectors and jurisdictions, as well as its complete independent majority board structure to align with global best practices in corporate governance standards. Across its core business segments, the Group has established solid foundations and maintains continual leading competitive positions.
AMTD Group Repurchases Over 7 Million Shares
AMTD Group, AMTD IDEA Group (AMTD), AMTD (HKD) and The Generation Essentials Group (TGE) jointly announce that under the share repurchase programs established and implemented by the Group, the approximate cumulative number of shares repurchased as of the date of this announcement are as follows: AMTD IDEA Group: 4,417,036 American depositary shares; AMTD Digital Inc.: 2,798,473 American depositary shares; TGE: 284,538 ordinary shares The Group reaffirms its strong confidence in its long-term prospects. The boards of directors of AMTD IDEA, AMTD Digital, and TGE each believe that AMTD is well positioned for sustainable long-term growth, supported by diversified operations across multiple sectors and jurisdictions, as well as their independent majority board structure to align with global best practices in corporate governance standards. Across its core business segments, the Group has established solid foundations and maintained leading competitive positions.
AMTD IDEA Group Acquires London Office Tower for Approximately $17M
AMTD IDEA Group entered into a definitive agreement to acquire the London office tower located at 40 Furnival Street, London, for a total effective consideration of around $17M. The acquisition is expected to be completed without utilizing any external financing, including the term loan facility made available to AMTD IDEA relating to this transaction as previously announced. The building comprises approximately 9,646 sq ft Grade A office and ancillary accommodation. Upon completion of the acquisition, the property is expected to serve as one of the global headquarters of AMTD, The Art Newspaper, and L'Officiel. The closing of the transaction is expected to take place in the near future.
AMTD IDEA Acquires London Hotel and Town Hall for Approximately $63M
AMTD IDEA Group announced the successful acquisition of the Dao by Dorsett Hornsey Hotel in Crouch End, London, for approximately $30M. The acquisition was completed without utilizing any external financing, including the term loan facility made available to AMTD IDEA relating to this transaction. The Dao by Dorsett Hornsey Hotel is situated within the restored Grade II listed Hornsey Town Hall complex and comprises 68 serviced apartments and hotel rooms for mixed use purposes, including a mix of studios and suites. Following completion, the hotel will be renamed AMTD Dao by Dorsett Hornsey, becoming AMTD's fifth branded hotel. AMTD IDEA also entered into a definitive agreement to acquire the historic Hornsey Town Hall, a 1930s London civic landmark comprising an Assembly Hall, Council Chamber, Committee Room, rooftop bar, cinema, town hall square and a variety of flexible event spaces and workspaces, for $33M. Following the acquisition, AMTD plans to leverage its strengths as a fashion and art media company to introduce and connect art festivals and cultural initiatives to Hornsey Town Hall. The closing of the transaction is subject to customary closing conditions and is expected to take place in the near future.
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