Further Purchase Offer for C

RNS Number : 9512Y

Whitbread PLC

14 July 2008

 



Deutsche Bank AG, London Branch

14 July 2008

Not for release, publication or distribution in whole or in part to or into the United States, Australia, Canada, Japan or the Republic of South Africa.

Deutsche Bank AG, London Branch

Whitbread PLC

Further Purchase Offer for C Shares

Whitbread announced on 12 June 2008 that it had sent a letter to the holders of its C Shares (the 'Letter') 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').

Deutsche Bank AG, London Branch, has agreed to make the Further Purchase Offer.

Deutsche Bank AG, London Branch, hereby makes the Further Purchase Offer, acting as principal, to purchase each of the 2,727,879 C Shares in respect of which valid acceptances of the Further Purchase Offer have been received for 162.6 pence, free of all dealing expenses and commissions, in an off-market transaction on the terms set out in the Letter.

Settlement for the C Shares acquired under the Further Purchase Offer will be made on 17 July 2008 when cheques will be dispatched to Shareholders whose C Shares are held in certificated form (that is, not in CREST). The CREST accounts of Shareholders whose C Shares are held in uncertificated form (that is, in CREST) will be credited with the proceeds of sale on the same day.

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

For further information:

Martin Pengelley - Director - 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, London Branch,, 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.

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

 

 

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