7th Jun 2007 07:01
Whitbread PLC07 June 2007 Whitbread PLC7 June 2007 B Share Scheme - Further Purchase Offer by Deutsche Bank Whitbread PLC ("Whitbread") announces that it has today sent a letter to theholders of its B Shares outlining a proposed purchase offer in relation to its BShares to be made by Deutsche Bank AG, London Branch ("Deutsche Bank"), subjectto certain conditions (the "Further Purchase Offer"). The B Shares were created pursuant to the return of £400 million of cashapproved by Shareholders on 20 June 2006, details of which were contained in theCircular to Shareholders dated 26 May 2006 (the "Circular"). The Return of Cashprovided Shareholders with three alternatives in relation to their B Shares. Asa result of elections made by Shareholders in June 2006, there are currently6,448,317 B Shares outstanding. Details of the Further Purchase Offer The Further Purchase Offer, which is expected to be made by Deutsche Bank on 2July 2007, will offer the holders of B Shares the opportunity to sell all orsome of their B Shares to Deutsche Bank (acting as principal) for 155 pence perB Share, free of all dealing expenses and commissions.Settlement of the Further Purchase Offer is expected to be made on 5 July 2007.Full details of the Further Purchase Offer are contained in the letter toholders of B Shares posted today. Terms defined in the Circular have the same meaning when used in thisannouncement. B Share Continuing Dividend Whitbread also announces that the non-cumulative preferential dividend of 5.59pence per B Share (the "B Share Continuing Dividend") will be paid on 2 July2007. The record date for the B Share Continuing Dividend will be 15 June 2007.For further information, please contact:Daren Lowry - Assistant Company Secretary - Tel: 01582 889 346 Whitbread PLC is one of the UK's leading hospitality companies, managingbusinesses in the budget hotels, restaurant and health & fitness sectors,including Premier Travel Inn, Brewers Fayre, Beefeater, Costa and David LloydLeisure. Whitbread's strategy is to create value for our shareholders by focusinginvestment and growing in expanding sectors of the hospitality industry,primarily in the UK but also in selected overseas markets. Deutsche Bank, which is authorised and regulated in the United Kingdom by theFinancial Services Authority, is acting exclusively for Whitbread and no-oneelse in connection with the Further Purchase Offer and will not be responsiblefor anyone other than Whitbread for providing the protections afforded toclients of Deutsche Bank or for providing advice in relation to the FurtherPurchase Offer. Shareholders in the United States, Australia, Canada, Japan and the Republic ofSouth Africa are not eligible for the Further Purchase Offer. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Whitbread