Action Hotels PLC shareholder Blakeney LLP agreed to sell all 9,715,463 Action Hotels shares it owns to a subsidiary of an entity of which Action Hotels Chairman Sheikh Mubarak A. M. Al Sabah is chairman and a major shareholder.

The shares are being sold for 23 British pence per share, for a total transaction price of £2.23 million.

According to S&P Global Market Intelligence data, Blakeney is Action Hotels' second-largest shareholder, and its stake represents 6.58% of outstanding Action Hotels shares. Action Group Holdings (K.S.C.C.) is the largest shareholder of the company, owning 105,301,111 shares, or 71.32%, of outstanding shares.

Following the transaction, Sheikh Mubarak A. M. Al Sabah and Action Group Holdings will own 107,026,079, or about 72.49% of Action Hotels' shares.