REG - Hostelworld Grp PLC - Launch of Share Buyback

HostelworldAnnouncement

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RNS Number : 4746N  Hostelworld Group PLC  19 June 2025

 

LEI: 213800OC94PF2D675H41

19 June 2025

Hostelworld Group plc

 

Share REPURCHASE Programme

Hostelworld Group plc ("Hostelworld" or the "Company") today announces the
commencement of a share buyback programme to repurchase ordinary shares of up
to a maximum aggregate consideration of £5 million (the "Maximum
Consideration").

The Company has entered into irrevocable, non-discretionary arrangements with
Goodbody Stockbrokers UC ("Goodbody") to repurchase ordinary shares on the
Company's behalf up to the Maximum Consideration (the "Share Buyback
Programme").

The Share Buyback Programme will commence on 19 June 2025, and may continue
until 31 December 2025, subject to market conditions, the ongoing capital
requirements of the business and termination provisions customary for
arrangements of this nature, unless the amount of the Maximum Consideration is
reached earlier. The maximum number of ordinary shares to be repurchased under
the Share Buyback Programme is 12,498,978 pursuant to the Company's general
authority to repurchase ordinary shares approved by shareholders at the
Company's AGM on 7 May 2025 (the "2025 Repurchase Authority") and such
ordinary shares may only be repurchased on the London Stock Exchange. The
purpose of the Share Buyback Programme is to reduce the Company's share
capital, and it is intended that the shares repurchased will be cancelled.

Goodbody will make their trading decisions in relation to the Company's shares
independently of, and uninfluenced by, the Company and in accordance with
certain pre-set parameters.

The Share Buyback Programme will be conducted (i) in accordance with the 2025
Repurchase Authority and (ii) within the parameters prescribed by the Market
Abuse Regulation 596/2014/EU ("EU MAR"), the Commission Delegated Regulation
(EU) 2016/1052 and the Commission Delegated Regulation (EU) 2016/1052 (also as
in force in the United Kingdom ("UK"), from time to time, including, where
relevant, pursuant to the UK's Market Abuse (Amendment) (EU Exit) Regulations
2019 ("UK MAR")) as well as the applicable laws and regulations of the London
Stock Exchange.

The Share Buyback Programme may be supplemented by the purchase of ordinary
shares by way of block trades in accordance with the Company's general
authority to repurchase shares. The Maximum Consideration payable by the
Company under the Share Buyback Programme will be reduced by the corresponding
amount of capital returned through block trades.

Details of any ordinary shares repurchased will be notified to a Regulatory
Information Service by the Company following any repurchase.

The company is initiating the share buyback programme in line with the capital
allocation framework presented at our recent Capital Markets Day. This
decision underscores our confidence in our robust financial position and our
commitment to enhancing shareholder value. Importantly, this programme will
not limit our capacity to pursue complementary strategic acquisitions that
will help to support growth, enhance our capabilities, and drive incremental
returns for shareholders.

The Company confirms that, following the release of this announcement, it is
not in possession of any unpublished price sensitive information.

MAR information

This announcement contains inside information for the purposes of Article 7 of
UK MAR and EU MAR. For the purposes of UK MAR and EU MAR, this announcement is
being made on behalf of the Company by Caroline Sherry, Chief Financial
Officer.

 

For further information contact:

Hostelworld Group plc - Corporate@hostelworld.com

Gary Morrison, Chief Executive Officer

Caroline Sherry, Chief Financial Officer

Sodali (Financial PR adviser) - hostelworld@sodali.com
(mailto:hostelworld@sodali.com)

Eavan Gannon/Oliver Banks

Tel: +44 (0) 20 7250 1446

About Hostelworld Group

Hostelworld Group PLC is a ground-breaking social network powered Online
Travel Agent ("OTA") focused on the hostelling category, with a clear mission
to help travellers find people to hang out with. Our mission statement is
founded on the insight that most travellers go hostelling to meet other
people, which we facilitate through a series of social features on our
platform that connect our travellers in hostels and cities based on their
booking data. The strategy has been extraordinarily successful, generating
significant word of mouth recommendations from our customers and strong
endorsements from our hostel partners.

 

Founded in 1999 and headquartered in Ireland, Hostelworld is a well-known
trusted brand with almost 260 employees, hostel partners in over 180
countries, and a long-standing commitment to building a better world. To that
end, our focus over the last few years has been on improving the
sustainability of the hostelling industry. In particular, over the last two
years we have commissioned independent research to validate the category's
sustainability credentials and recently introduced a hostel specific
sustainability framework which encourages our hostel partners to move to even
more sustainable operations and also provides the data points for our
customers to make more informed decisions about where they stay. In addition,
our customers are now able to offset their trip's carbon emissions should they
wish to do so, and we have maintained our 'Taking Climate Action' label
awarded by South Pole.

 

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