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LONDON - SSP Group plc (LSE:SSPG) announced Thursday it will repurchase up to £100 million of its own shares through an on-market buyback program, reflecting what the company described as a healthy balance sheet position.
The global operator of food and beverage outlets in travel locations said the program will begin immediately and conclude no later than October 9, 2026, with the sole purpose of reducing the company’s issued share capital.
SSP has entered into an arrangement with Barclays Bank PLC to purchase up to 80,057,619 ordinary shares in accordance with the authority granted by shareholders at the 2025 Annual General Meeting. This authority will expire at the conclusion of the 2026 Annual General Meeting or on April 28, 2026, whichever comes first.
Continuation of the program beyond the expiration of the current authority will require shareholder approval at the 2026 Annual General Meeting.
The company stated that all share purchases will comply with UK market regulations and listing rules. Following the purchase, the shares will be cancelled.
SSP Group operates approximately 3,000 food and beverage outlets across 38 countries in travel locations such as airports and train stations. The company employs around 49,000 people globally.
The announcement, based on a company press release statement, indicates the board’s confidence in the company’s prospects for the 2026 fiscal year.
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