C Share Scheme - Further Purc

RNS Number : 6210W

Whitbread PLC

12 June 2008

 

Whitbread PLC

12 June 2008

C Share Scheme - Further Purchase Offer by Deutsche Bank AG, London Branch

Whitbread PLC ('Whitbread') announces that it has today 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 Return of Cash provided Shareholders with three alternatives in relation to their C Shares. As a result of elections made by Shareholders in January 2007, there are currently 4,603,700 C Shares outstanding.

Details of the Further Purchase Offer

The Further Purchase Offer, which is expected to be made by Deutsche Bank AG, London Branch on 14 July 2008, will offer the holders of C Shares the opportunity to sell all or some of their C Shares to Deutsche Bank AG, London Branch (acting as principal) for 162.6 pence per C Share, free of all dealing expenses and commissions.

Settlement of the Further Purchase Offer is expected to be made on 17 July 2008. Full details of the Further Purchase Offer are contained in the letter to holders of C Shares posted today.

Terms defined in the Circular have the same meaning when used in this announcement.

For further information, please contact:

Simon Barratt - General Counsel - Tel: [phone]

Daren Lowry - Head of Secretariat - Tel: [phone]

Rachael Gardiner - Company Secretarial Assistant - Tel: [phone]

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.

 

END

 

 

MSCFKBKBABKDOAD