Whitbread PLC commences an Equity Buyback Plan for 18,359,613 shares, representing 10% of its issued share capital, under the authorization approved on June 27, 2018.
January 17, 2019 at 07:30 am
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Whitbread PLC (LSE:WTB) commences share repurchases on January 17, 2019, under the program mandated by the shareholders in the Annual General Meeting held on June 27, 2018. As per the mandate, the company is authorized to repurchase up to 18,359,613 shares, representing 10% of the issued share capital. The minimum price which may be paid for an ordinary share is nominal amount of that share. The maximum price which may be paid for each ordinary share is an amount equal to the higher of 105% of the average of the middle market quotations for an ordinary share, as derived from the London Stock Exchange, for the five business days immediately preceding the day on which the ordinary share is purchased, and the higher of the price of the last independent trade and the highest current independent bid on the London Stock Exchange. The repurchased shares will be held in treasury. Unless previously revoked or varied, the share repurchase program shall expire at the earliest of the conclusion of the next Annual General Meeting in 2019, or, if earlier, September 26, 2019. As of May 14, 2018, the company had 195,727,639 ordinary shares in issue of which 12,131,506 ordinary shares were held in treasury.
Whitbread PLC is a leading British hotel, restaurant, and coffee shops. Net sales break down by activity as follows:
- hotel operations (72.2%; No. 1 in the United Kingdom): owns, as of 02/03/2023, 898 hotels under the Premier Inn brand, mainly located in the United Kingdom (847; 83,500 rooms) and Germany (51; 9,000 rooms) ;
- operation of restaurants (27.8%): owns 800 restaurants and pubs under the Premier Inn, Beefeater, Brewers Fayre, Table Table, Cookhouse & Pub, Bar+Block and Thyme brands;
- other (0.4%).
Net sales are distributed geographically as follows: the United Kingdom and Ireland (94.8%), Germany (4.5%) and other (0.7%).
Whitbread PLC commences an Equity Buyback Plan for 18,359,613 shares, representing 10% of its issued share capital, under the authorization approved on June 27, 2018.
WHITBREAD PLC 
