Whitbread PLC
05 July 2007
Whitbread PLC
5 July 2007
Whitbread PLC: Transaction in Own Shares
Transaction in Own Shares
Whitbread announced on 7 June 2007 that it had sent a letter to the holders of
its B Shares outlining a proposed purchase offer in relation to its B Shares to
be made by Deutsche Bank AG, London Branch ('Deutsche Bank'), subject to certain
conditions (the 'Further Purchase Offer').
The B Shares were created pursuant to the return of £400 million of cash
approved by Shareholders on 20 June 2006, details of which were contained in the
Circular to Shareholders dated 26 May 2006 (the 'Circular').
The terms of the Further Purchase Offer enables Shareholders to sell some or all
of their B Shares at 155 pence per B Share, free of all dealing expenses and
commissions. Elections to accept the Further Purchase Offer were received in
respect of 4,475,529 B Shares, representing approximately 69.41 per cent. of the
outstanding B Shares. These B Shares have been purchased by the Company from
Deutsche Bank for an amount equal to 155 pence per B Share plus an amount equal
to the total stamp duty and stamp duty reserve tax payable by Deutsche Bank in
respect of its purchase of B Shares and will be cancelled by Whitbread after
purchase.
The remaining 1,972,788 B Shares, representing approximately 0.76 per cent. of
the B Shares arising pursuant to the Capital Reorganisation, will continue to be
in issue.
Terms defined in the Circular to Shareholders dated 26 May 2006 have the same
meaning when used in this announcement.
For further information:
Simon Barratt - Company Secretary - Tel: 020 7806 5492
Rachael Chandler - Company Secretarial Assistant - Tel: 01582 889 337
Deutsche Bank, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for Whitbread and no-one
else in connection with the Further Purchase Offer and will not be responsible
for anyone other than Whitbread for providing the protections afforded to
clients of Deutsche Bank or for providing advice in relation to the Further
Purchase Offer.
This information is provided by RNS
The company news service from the London Stock Exchange
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