SSP Group PLC Share Buyback Programme (9580T)
20 Novembre 2019 - 8:01AM
UK Regulatory
TIDMSSPG
RNS Number : 9580T
SSP Group PLC
20 November 2019
LEI: 213800QGNIWTXFMENJ24
20 November 2019
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE AN OFFER FOR SALE OF ANY SECURITIES OR AN OFFER OR
INVITATION TO PURCHASE ANY SECURITIES IN ANY JURISDICTION OR A
SOLICITATION OF ANY VOTE OR APPROVAL.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (DIRECTLY OR
INDIRECTLY) IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF THAT JURISDICTION.
SSP GROUP PLC
(the "Company")
Share Buyback Programme
SSP Group plc announces its intention to return up to
GBP100,000,000 to its shareholders through an on-market share
buyback programme (the "Programme") underpinning its confidence in
the business and commitment to maintain an efficient balance sheet.
The Programme will begin immediately and will end no later than 20
November 2020. The sole purpose of the Programme is to reduce the
Company's issued share capital.
The number of ordinary shares of 1 17/200 pence each in the
Company ("Ordinary Shares") permitted to be purchased by the
Company pursuant to the existing authority granted by shareholders
at its annual general meeting on 21 February 2019 is 44,476,261
Ordinary Shares. Following the expiry of this authority, the
aggregate number of Ordinary Shares permitted to be purchased by
the Company shall be the number authorised under any subsequent
buyback authority.
The Company has entered into an arrangement with Barclays Bank
PLC, acting through its Investment Bank, ("Barclays") in relation
to the Programme (the "Arrangement"). Purchases of Ordinary Shares
pursuant to the Programme will be made by Barclays on the Company's
behalf in accordance with the Arrangement and, in the case of any
purchases made during closed periods, shall be made independently
of, and uninfluenced by, the Company. The purchased Ordinary Shares
will be held in treasury.
Any purchases of Ordinary Shares made in relation to this
announcement will be effected in accordance with the authority
granted by shareholders from time to time, the Market Abuse
Regulation 596/2014 and Chapter 12 of the Listing Rules and will be
discontinued in the event that the Company ceases to have the
necessary general authority to repurchase Ordinary Shares.
For further information contact:
Helen Byrne, Company Secretary & General Counsel, SSP Group
plc
+ 44 (0)20 7543 3300
Investor and analyst enquiries
Sarah John, Director of Investor Relations, SSP Group plc
+44 (0)20 3714 5251; E-mail: sarah.john@ssp-itl.com
Media enquiries
Peter Ogden / Lisa Kavanagh, Powerscourt
+44 (0)20 7250 1446; E-mail: ssp@powerscourt-group.com
About SSP
SSP is a leading operator of food and beverage concessions in
travel locations, operating restaurants, bars, cafés, food courts,
lounges and convenience stores in airports, train stations,
motorway service stations and other leisure locations. With over 50
years of experience, today we have more than 39,000 employees,
serving approximately one and a half million customers every day.
We have business at approximately 180 airports and 300 rail
stations, and operate more than 2,800 units in 35 countries around
the world.
SSP operates an extensive portfolio of more than 550
international, national, and local brands. Among these are local
heroes such as Brioche Doree in Paris, LEON in London, and Hung's
Delicacies in Hong Kong. Our range also includes proprietary brands
created for the travel sector including Upper Crust, Cabin Bar and
Ritazza, as well as international names such as M&S, Burger
King, Starbucks, Jamie's Deli and YO! Sushi. We also create
stunning bespoke concepts such as Five Borough Food Hall in JFK,
New York and Norgesglasset Bar in Oslo Airport.
www.foodtravelexperts.com
IMPORTANT NOTICE
Barclays, which is authorised by the Prudential Regulation
Authority and regulated in the United Kingdom by the Financial
Conduct Authority and the Prudential Regulation Authority, is
acting exclusively for the Company and no one else in connection
with the buyback programme and will not be responsible to anyone
other than the Company for providing the protections afforded to
clients of Barclays nor for providing advice in relation to the
buyback programme or any other matter referred to in this
announcement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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November 20, 2019 02:01 ET (07:01 GMT)
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