REG - Hollywood Bowl Group - Share Buyback Programme

Hollywood BowlAnnouncement

18/02/2025 07:15

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RNS Number : 2569X  Hollywood Bowl Group plc  18 February 2025

Hollywood Bowl Group plc

("Hollywood Bowl", the "Company" or the "Group")

 

Share Buyback Programme

 

At Hollywood Bowl's AGM held on 30 January 2025, the Company was generally and
unconditionally authorised by its shareholders to make market purchases
(within the meaning of section 693 of the Companies Act 2006) of up to a
maximum of 17,208,385 of its ordinary shares.

 

Hollywood Bowl announces today that it has entered into non-discretionary
agreements with Investec and Berenberg to purchase, in aggregate, up to £10
million (excluding any associated costs and stamp duty) of the Company's
Ordinary Shares of 1 pence each (the "Shares") and to make trading decisions
under the Share Buyback independently of the Company in accordance with
certain pre-set parameters. The Share Buyback Programme will commence today
and end no later than 29 January 2026.

 

The Share Buyback Programme reflects the Group's highly cash generative
business model and strong balance sheet. In line with Group's capital
allocation policy the Board believe that a share buyback is an attractive way
in which to return excess capital to shareholders while also continuing to
invest in growing the business. It follows on from the previous Share Buyback
announced in February 2024.

 

The purpose of the Share Buyback Programme is to reduce the share capital of
the Company. As such, the Company will cancel any Shares purchased.

 

This arrangement is in accordance with Chapter 9 of the UK Listing Rules and
the Group's general authority to repurchase ordinary shares. The Share Buyback
Programme will be conducted within the parameters prescribed by the Market
Abuse Regulation 596/2014, the Commission Delegated Regulation (EU) 2016/1052
(both as incorporated into UK domestic law by the European Union (Withdrawal)
Act 2018 and as amended by the Market Abuse (Amendment) (EU Exit) Regulations
2019) and with regard to regulatory technical standards for the conditions
applicable to buy-back programmes and stabilisation measures.. During any
closed periods the Company and its directors have no power to invoke any
changes to the programme and it will be executed at the sole discretion of
Investec and Berenberg, as appropriate.

 

 

 Enquiries:                                                 Via Teneo

 Hollywood Bowl Group PLC
 Stephen Burns, Chief Executive Officer
 Laurence Keen, Chief Financial Officer
 Mat Hart, Chief Sustainability and Communications Officer

 Teneo
 Elizabeth Snow                                             hollywoodbowl@teneo.com
 Laura Marshall                                             +44 (0)20 7353 4200

 

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