# Whitbread PLC announces completion of Tender Offer

- Link: https://www.directorstalkinterviews.com/whitbread-plc-announces-completion-of-tender-offer/412788392
- Published: 2019-07-24T07:29:38+01:00
- Author: Amilia Stone

**Whitbread **plc (LON:WTB) today confirmed that the Tender Offer announced by the
Company on 31 May 2019 completed on Tuesday 23 July 2019 and that Whitbread’s return
of capital programme is now also completed. The total returned to shareholders is
now £2.5 billion, conducted via the Tender Offer and on-market share buybacks.

Under the terms of the Tender Offer, Morgan Stanley purchased 40,225,261 Ordinary
Shares at the Strike Price of 4,972 pence per share. On Tuesday 23 July 2019, these
Ordinary Shares were subsequently acquired from Morgan Stanley by the Company on
the London Stock Exchange under the terms of an option agreement at a price of 4,972
pence per share and cancelled by the Company. The Company has also cancelled 4,000,000
Ordinary Shares held in Treasury.

Following completion of the Tender Offer and the cancellation of 44,225,261 Ordinary
Shares, and in accordance with paragraph 5.6.1 AR of the FCA’s Disclosure Guidance
and Transparency Rules, the Company’s Issued Ordinary Share Capital consists of 
146,802,799 Ordinary Shares, all of which carry voting rights. The Company holds
13,119,718 Ordinary Shares in treasury. Therefore, the total number of voting rights
attaching to shares in the Company is 133,683,081. 

133,683,081 may be used by Shareholders as the denominator for the calculations 
by which they will determine if they are required to notify their interest in, or
a change to their interest in, Ordinary Shares to the Company under the FCA’s Disclosure
Guidance and Transparency Rules.

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