Transaction in Own Shares

RNS Number : 3383Z

Whitbread PLC

17 July 2008

 



Whitbread PLC

17 July 2008

Whitbread PLC: Transaction in Own Shares

Whitbread announced on 12 June 2008 that it had sent a letter to the holders of its C Shares outlining a proposed purchase offer in relation to its C Shares to be made by Deutsche Bank AG, London Branch, subject to certain conditions (the 'Further Purchase Offer').

The C Shares were created pursuant to the return of £350 million of cash approved by Shareholders on 18 December 2006, details of which were contained in the Circular to Shareholders dated 24 November 2006 (the 'Circular').

The terms of the Further Purchase Offer enabled Shareholders to sell some or all of their C Shares at 162.6 pence per C Share, free of all dealing expenses and commissions.

Elections to accept the Further Purchase Offer were received in respect of 2,727,879 C Shares, representing approximately 59.3 per cent. of the outstanding C Shares. These C Shares have been purchased by the Company from Deutsche Bank AG, London Branch for an amount equal to 162.6 pence per C Share. The purchased C Shares will be cancelled.

The remaining 1,875,821 C Shares, representing approximately 40.7 per cent. of the C Shares arising pursuant to the Capital Reorganisation, will continue to be in issue.

Terms defined in the Circular to Shareholders dated 24 November 2006 have the same meaning when used in this announcement. 

For further information:

Capita Registrar Helpline      - 0871 664 0321 from within the UK

                                          - [phone] from outside the UK

Calls to the 0871 664 0321 number cost 10 pence per minute (including VAT) plus your service provider's network extras. Calls to the helpline from outside the UK will be charged at applicable international rates. Different charges may apply to calls from mobile telephones and calls may be recorded and randomly monitored for security and training purposes

Whitbread PLC is the UK's largest hotel and restaurant group, managing market leading businesses in the budget hotels and restaurant sectors, including Premier Inn, Brewers Fayre, Beefeater and Costa Coffee.

Whitbread's success is due to the skill and professionalism of its 33,000 people who serve around 11 million customers each month at more than 1,400 outlets across the UK. Whitbread's strategy is to create value for our shareholders by focusing investment and growth in expanding sectors of the hospitality industry.

In the financial year to 28 February, 2008, Whitbread generated pre-tax, pre-exceptional profit of £210.3 m. Founded in 1742, the company is listed on the London Stock Exchange (as WTB.L) and is a member of the FTSE4Good indices.

www.whitbreadimages.co.uk

Deutsche Bank AG is authorised under German Banking Law (competent authority: BaFin - Federal Financial Supervising Authority) and regulated by the Financial Services Authority for the conduct of UK business. Deutsche Bank AG is acting for Whitbread PLC and no one else in connection with the Further Purchase Offer and will not be responsible to anyone other than Whitbread PLC for providing the protections afforded to clients of Deutsche Bank nor for providing advice in connection with the Further Purchase Offer.

None of the Existing Ordinary shares, New Ordinary Shares or the C Shares have been or will be registered under U.S. Securities Act of 1933 as amended (the 'Securities Act') or the securities laws of any other U.S. jurisdiction, and none of them may be offered or sold in the United States unless pursuant to an exemption from, or in a transaction not subject to the registration requirements of, the Securities Act.

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.

This announcement does not constitute, or form part of, an offer to sell or the solicitation of an offer to subscribe for any securities, nor the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issue or transfer of the securities referred to in this announcement in any jurisdiction in contravention of applicable law.

 

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