LAUNCH OF SHARE BUYBACK PROGRAMME
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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.
FOR IMMEDIATE RELEASE
8 June 2026
On the Beach Group plc
("On the Beach" or the "Company")
LAUNCH OF SHARE BUYBACK PROGRAMME
On the Beach Group plc (LSE: OTB.L) announces that it intends to commence a share buyback programme in respect of its ordinary shares of 1p each ("Ordinary Shares") for up to a maximum aggregate consideration of £10 million (excluding any associated costs and stamp duty) from the date of this announcement (the "Share Buyback Programme"). The purchased Ordinary Shares will be cancelled.
In line with the Company's capital allocation policy, the Board has determined that sufficient surplus cash exists to commence a share buyback of up to £10 million, building on the £50 million already returned to shareholders through share buybacks and dividends in FY25 and the first half of FY26.
On the Beach remains committed to investment into the business to deliver organic growth, maintaining a sustainable and progressive dividend policy, investing in additional growth opportunities and returning surplus cash to shareholders.
Details of the Share Buyback Programme
On the Beach has given instructions to Peel Hunt LLP and Deutsche Bank AG, London Branch (trading for these purposes as Deutsche Numis) (together, the "Brokers") in relation to the Share Buyback Programme, which will commence today and will end no later than 31 December 2026. The Brokers will act as "riskless" or "matched" principals for the purposes of the Share Buyback Programme, within certain parameters, and will make their trading decisions concerning the purchases of Ordinary Shares independently of the Company.
The purpose of the Share Buyback Programme is to reduce the share capital of the Company.
Any purchase of Ordinary Shares under the Share Buyback Programme will be carried out on the London Stock Exchange and/or other trading venues and in accordance with the general authority to purchase Ordinary Shares granted to the directors of the Company (the "Directors") by its shareholders at the Company's annual general meeting in 2026 (the "2026 Authority"). The maximum number of Ordinary Shares which the Company is authorised to purchase under the 2026 Authority is 14,490,500 Ordinary Shares. The Share Buyback Programme will be conducted in accordance with Article 5(1) of Regulation (EU) 596/2014, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended), the provisions of Commission Delegated Regulation (EU) 2016/1052, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended), which deal with buyback programmes and Chapter 9 of the Financial Conduct Authority's UK Listing Rules.
On the Beach will announce any purchase of Ordinary Shares under the Share Buyback Programme no later than the end of the seventh daily market session following the date of execution of such purchase.
The person responsible for making this announcement on behalf of the Company is Kirsteen Vickerstaff, General Counsel and Company Secretary.
For further information:
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On the Beach Group plc
Shaun Morton, Chief Executive Officer Jon Wormald, Chief Financial Officer
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via FTI Consulting |
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FTI Consulting |
Tel: +44 (0)20 3727 1000 |
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Alex Beagley Harriet Jackson |
onthebeach@fticonsulting.com |
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