REG - On the Beach Group - LAUNCH OF SHARE BUYBACK PROGRAMME

On Beach groupAnnouncement

24/09/2025 07:00

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RNS Number : 5160A  On the Beach Group PLC  24 September 2025

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OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE
A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018.

 

FOR IMMEDIATE RELEASE

 

24 September 2025

 

On the Beach Group plc

("On the Beach" or the "Company")

 

LAUNCH OF SHARE BUYBACK PROGRAMME

 

On the Beach Group plc (LSE: OTB.L) announces that it intends to commence a
share buyback programme in respect of its ordinary shares of 1p each
("Ordinary Shares") for up to a maximum aggregate consideration of £25
million (excluding any associated costs and stamp duty) from the date of this
announcement (the "Share Buyback Programme"). The purchased Ordinary Shares
will be cancelled.

 

As referenced in the Company's FY25 trading update, announced today, the Board
has determined that sufficient surplus cash exists to commence a share buyback
of up to £25m, building on the £30m already returned to shareholders through
share buybacks and dividends in FY25.

 

On the Beach remains committed to its capital allocation policy which is
focused on investment into the business to deliver organic growth, maintaining
a sustainable and progressive dividend policy, investing in additional growth
opportunities and returning surplus cash to shareholders.

 

Details of the Share Buyback Programme

 

On the Beach has given irrevocable and non-discretionary instruction to Peel
Hunt LLP and Numis Securities Limited trading as Deutsche Numis (together, the
"Brokers") in relation to the Share Buyback Programme, which will commence
today and will end no later than 31 March 2026 or, if earlier, the conclusion
of the Company's AGM held in 2026 or, subject to the renewal of the requisite
authority at that AGM, 30 November 2026. The Brokers will act as "riskless" or
"matched" principals for the purposes of the Share Buyback Programme, within
certain parameters, and will make their trading decisions concerning the
purchases of Ordinary Shares independently of the Company.

 

The purpose of the Share Buyback Programme is to reduce the share capital of
the Company.

 

Any purchase of Ordinary Shares under the Share Buyback Programme will be
carried out on the London Stock Exchange and/or other trading venues and in
accordance with the general authority to purchase Ordinary Shares granted to
the directors of the Company (the "Directors") by its shareholders at the
Company's annual general meeting in 2025 (the "2025 Authority", or as
subsequently granted to the Directors at its annual general meeting in 2026).
The maximum number of Ordinary Shares which the Company is authorised to
purchase under the 2025 Authority is 12,625,307 Ordinary Shares (being the
2025 Authority in respect of 16,431,103 shares less the 3,805,796 shares
bought back since the 2025 Authority was obtained).

 

Due to the current limited liquidity in the Company's issued ordinary shares,
in order to proceed with the Programme in an effective manner, the Company, in
discussions with its brokers, Peel Hunt LLP and Numis Securities Limited
trading as Deutsche Numis, has agreed that the Programme may on any given
trading day exceed 25% but remain below 50% of the average daily trading
volume and, accordingly, the Company may not benefit from the exemption
contained in Article 5(1) in Regulation (EU) 596/2014, as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018 (as
amended).

 

On the Beach will announce any purchase of Ordinary Shares under the Share
Buyback Programme no later than 7.30 a.m. on the business day following the
calendar day on which the purchase occurred.

 

The person responsible for making this announcement on behalf of the Company
is Kirsteen Vickerstaff, General Counsel and Company Secretary.

 

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

 

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