Coral Equity divides its hotel business into twelve beneficiary companies

Coral Equity E 1999, S.A.U. undergoes a total spin-off into twelve hotel companies, all of which are wholly owned directly by its sole shareholder, Coral Holdings D 2023, S.L.U. The operation was approved on September 25, 2026, by the sole shareholder under articles 63, 64, and 71 of Royal Decree-Law 5/2023, of June 28, and is published in the Official Gazette of the Mercantile Registry (BORME) no. 188, of September 29, 2026, with the official reference BORME-C-2026-5240.

The announcement is inserted in the Second Section (Announcements and legal notices), under the heading of company spin-offs, on pages 6508 and 6509 of the gazette. The spin-off project was filed with the Mercantile Registry of Madrid on June 10, 2026, a filing that was published in the Official Gazette of the Mercantile Registry no. 114, of June 17, 2026. The spun-off company is registered in the Mercantile Registry of Madrid, sheet M 243012, with entry I/A 65, of June 10, 2026.

The operation culminates a previous corporate process of the group: Coral Equity E 1999 was transformed from a limited liability company into a public limited company in July 2024, and its sole partner has been Coral Holdings D 2023, S.L.U. since that same month, according to the entries published in the gazette itself.

The twelve beneficiary companies

The total spin-off is carried out in favor of twelve companies, all of which already exist and are 100% owned by the sole shareholder:

• Coral Hotels Alameda 2026, S.A.U.
• Coral Hotels Madrid 2026, S.A.U.
• Coral Hotels Guadalmar 2026, S.A.U.
• Coral Hotels Tenerife 2026, S.A.U.
• Coral Hotels Madrid Centro 2026, S.A.U.
• Coral Hotels Gran Vía 2026, S.A.U.
• Coral Hotels Barajas 2026, S.A.U.
• Coral Hotels Marbella 2026, S.A.U.
• Coral Hotels San Sebastián 2026, S.A.U.
• Coral Hotels Plaza 2026, S.A.U.
• Coral Hotels María Pita 2026, S.A.U.
• Coral Hotels Sancti Petri 2026, S.A.U.

A simplified spin-off: no exchange, no expert, and no meetings

Since the sole shareholder holds direct ownership of 100% of the share capital of both the spun-off company and each of the beneficiary companies, the simplifications of requirements provided for in articles 53, 56, and 63 of Royal Decree-Law 5/2023 are applicable. Consequently, the following were not necessary:

• The section of the directors’ report addressed to the partners: the common report formulated on May 22, 2026, contains only the section intended for the employees.
• The independent experts’ report on the total spin-off project.
• The determination of an exchange ratio and the issuance of new shares.
• The increase of the share capital of the beneficiary companies.
• The approval of the spin-off by the general meetings of the beneficiary companies.

Rights of shareholders and creditors

The shareholders and creditors of the participating companies are entitled to obtain free of charge the full text of the decisions adopted and the spin-off balance sheets, which are available at their respective registered offices.

Creditors whose credits arose prior to the publication of the spin-off project and were not yet due at that time may express their disagreement with the operation under the terms of Article 13 of Royal Decree-Law 5/2023, a right exercisable within one month from the publication of the project.

The announcement was signed in Madrid on September 28, 2026, by the chairman of the board of directors of Coral Equity E 1999, S.A.U., Jean-Michel Pallinger, the corporate secretary Gaël Thierry Le Lay, and the board member Mohammed Rashed Saeed Habwa Al Hamiri; Pallinger himself also acts as the sole administrator of the twelve beneficiary companies.

The restructuring separates the group’s hotel assets into twelve independent corporate vehicles, one per establishment, which affects the organization of the workforce, the position of the creditors, and the map of hotel ownership in Madrid, Tenerife, Marbella, San Sebastián, A Coruña, and the Andalusian coast. The publication in the bulletin opens the information and opposition period provided for in the regulations on structural modifications.

Source: Official Gazette of the Mercantile Registry, no. 188, September 29, 2026, Second Section (Announcements and legal notices), pp. 6508-6509 (official reference: BORME-C-2026-5240).