MADRID--(BUSINESS WIRE)--HNA Group (“HNA”) today issued the following statement regarding the outcome of NH Hotel Group’s (“NH Hotel”) 2016 General Meeting of Shareholders, held on 21 June 2016:
“HNA rescued NH Hotel from the brink of failure by providing a necessary capital infusion three years ago. Since then, we have advocated for the best interests of all NH Hotel shareholders, supported management in the execution of its Five-Year Plan, and worked with the Board to develop full participation by independent directors. We are disappointed to have been disenfranchised of our fundamental rights as a shareholder under the Spanish Good Governance Code. Despite having to relinquish our representation on the NH Hotel Board to Oceanwood’s slate of dissident nominees, we will continue to be an active shareholder and we expect the newly constituted Board to act in the best interest of all NH Hotel shareholders, employees, and other stakeholders.”
About HNA Group
HNA Group Co., Ltd. is a global conglomerate engaged in airport services, transportation, real estate, financial services, leasing, tourism, hotels, and logistics. It is the parent company of Hainan Airlines, which was founded in 1993. It is based in China in Haikou, Hainan Province and in Beijing. HNA Group is known for its commitment to corporate social responsibility.