REG - Whitbread PLC - Share Repurchase Programme

WhitbreadAnnouncement

26/01/2024 07:00

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RNS Number : 9738A  Whitbread PLC  26 January 2024

 

 

 

SHARE REPURCHASE PROGRAMME

 

 

Further to the announcement made on 18 October 2023, regarding the launch of a
share buy-back programme of up to £300 million (the 'Programme'), Whitbread
PLC ('Whitbread' or the 'Company') announces that it has agreed with J.P.
Morgan Securities plc ('JPMS'), to extend the engagement period for the
buy-back, such that the Programme will end no later than 24 April 2024.

 

JPMS shall continue to make a simultaneous on-sale of Ordinary Shares of 76
122/153 pence each ('Ordinary Shares') purchased under the instructions to
Whitbread.  JPMS will make their trading decisions in relation to the
Programme independently of, and uninfluenced by the Company.

 

The maximum number of Ordinary Shares that can be purchased under the
Programme is 14,138,162 Ordinary Shares (based on authority granted at
Whitbread's 2023 Annual General Meeting). The purpose of the Programme is to
reduce the share capital of the Company. Ordinary Shares purchased under the
Programme will be cancelled or (to the extent permitted by law) held in
treasury. The number of Shares acquired to date under the Programme is
7,274,357 for a total consideration of £243.3m.

 

Any purchase of Ordinary Shares made by JPMS in relation to the Programme will
be carried out on the London Stock Exchange plc, Cboe Europe Limited or Aquis
Stock Exchange Limited.  The buy-back by Whitbread will be executed in
accordance with the Listing Rules and Whitbread's general authority (from time
to time) to make market purchases of Ordinary Shares.  The 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 with regard to regulatory technical standards for the conditions
applicable to buy-back programmes and stabilisation measures. Whitbread will
announce any purchase by it of Ordinary Shares no later than 7.30 a.m. on the
business day following the calendar day on which the repurchase occurred.

 

JPMS may undertake transactions in shares (which may include sales and hedging
activities, in addition to purchases which may take place on any available
trading venue or on an over the counter basis) during the period of the
Programme in order to manage their market exposure under the Programme.
Disclosure of such transactions will not be made by JPMS as a result of or as
part of the Programme, but JPMS will continue to make any disclosures they are
otherwise legally required to make.

 

This announcement does not constitute, or form part of, an offer or any
solicitation of an offer for securities in any jurisdiction.

 

For more information please contact:

Investor Relations -  Whitbread
 
investorrelations@whitbread.com (mailto:investorrelations@whitbread.com)

 

Media -
Teneo
            whitbread@teneo.com

Jessica Reid                                                                                         +44 (0) 20 7353 4200

 

 

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