REG - On the Beach Group - EBT Market Purchase Programme

On Beach groupAnnouncement

03/10/2024 11:30

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RNS Number : 8499G  On the Beach Group PLC  03 October 2024

3 October 2024

On the Beach Group plc

("On the Beach", "OTB", the "Company" or the "Group")

 

EBT Market Purchase Programme

On the Beach Group plc, today announces that VG Corporate Trustee Limited (the
"Trustee"), as Trustee of the On the Beach Group Employee Benefit Trust (No.2)
(the "EBT") will shortly commence making market purchases of ordinary shares
of £0.01 each in OTB ("Shares") (the "EBT Market Purchase Programme").

Purchases under the EBT Market Purchase Programme are for a maximum aggregate
consideration of £5 million (inclusive of brokerage and dealing charges)
which has been funded by the Company by way of gift to the EBT.

Shares purchased under the EBT Market Purchase Programme will be used to
satisfy existing, planned and anticipated awards under OTB's employee share
schemes, or as otherwise permissible within the terms of the EBT trust deed,
in order to ensure that the Company operates within the dilution limits
approved by shareholders.

For further information:

 

 On the Beach Group plc                  via FTI Consulting

 Shaun Morton, Chief Executive Officer

 Jon Wormald, Chief Financial Officer

 FTI Consulting                          Tel: +44 (0)20 3727 1000

 Alex Beagley                            onthebeach@fticonsulting.com

 Harriet Jackson

 Hannah Butler

 

About On the Beach

 

On the Beach Group plc is one of the UK's largest online beach holidays
retailers, with significant opportunities for growth. Its innovative
technology, low-cost base and strong customer-value proposition provides a
structural challenge to legacy tour operators and online travel agents, as it
continues disrupting the online retail of beach holidays. Its model is
customer-centric, asset light, profitable and cash generative.

 

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