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LONDON - Whitbread (LON:WTB) PLC, the UK-based hospitality company, announced today that it has initiated a share repurchase programme valued at up to £250 million. The aim of the programme is to return surplus capital to shareholders and potentially enhance earnings per share.
The company has appointed Morgan Stanley & Co (NYSE:MS) International Plc to manage the repurchase process. Morgan Stanley will act as a riskless principal, buying Whitbread’s Ordinary Shares and then on-selling them to the company. The execution period for this programme began today and will end by April 30, 2026, at the latest.
Under the current shareholder authority, which was granted at Whitbread’s Annual General Meeting on June 18, 2024, a maximum of 13,250,263 Ordinary Shares can be repurchased before the company’s 2025 Annual General Meeting scheduled for June 19, 2025. Any continuation beyond this date is contingent on obtaining additional shareholder approval at the 2025 AGM.
The repurchase transactions will be conducted on several trading platforms including the London Stock Exchange (LON:LSEG) plc, Cboe Europe Limited, or Aquis Stock Exchange Limited, and will comply with UK Listing Rules and market purchase regulations.
Shares bought under this programme will be either cancelled or held in treasury, as permitted by law. Whitbread has committed to announcing any repurchases no later than 7:30 a.m. on the business day following the transaction.
Morgan Stanley may also engage in other share transactions, such as sales and hedging, to manage their exposure during the programme. These transactions will be disclosed as legally required, but not as part of the share buyback programme updates.
This share repurchase programme is part of Whitbread’s financial strategy to optimize capital structure and deliver value to its shareholders. The information for this article is based on a press release statement from Whitbread PLC.
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