Whitbread PLC Share Repurchase Programme
26 Gennaio 2024 - 8:00AM
RNS Regulatory News
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
Media - Teneo
whitbread@teneo.com
Jessica Reid
+44 (0) 20 7353 4200
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END
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