5th Jul 2007 16:00
Whitbread PLC05 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 ofits B Shares outlining a proposed purchase offer in relation to its B Shares tobe made by Deutsche Bank AG, London Branch ("Deutsche Bank"), subject to certainconditions (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 terms of the Further Purchase Offer enables Shareholders to sell some or allof their B Shares at 155 pence per B Share, free of all dealing expenses andcommissions. Elections to accept the Further Purchase Offer were received inrespect of 4,475,529 B Shares, representing approximately 69.41 per cent. of theoutstanding B Shares. These B Shares have been purchased by the Company fromDeutsche Bank for an amount equal to 155 pence per B Share plus an amount equalto the total stamp duty and stamp duty reserve tax payable by Deutsche Bank inrespect of its purchase of B Shares and will be cancelled by Whitbread afterpurchase. The remaining 1,972,788 B Shares, representing approximately 0.76 per cent. ofthe B Shares arising pursuant to the Capital Reorganisation, will continue to bein issue. Terms defined in the Circular to Shareholders dated 26 May 2006 have the samemeaning 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 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. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Whitbread