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Whitbread Plc

Whitbread plc announces Tender Offer is unconditional

Whitbread plc (LON:WTB) today announced that the Tender Offer the results of which were announced on Monday 22 July 2019 is now unconditional.

As set out in the Circular, Morgan Stanley will purchase Ordinary Shares that have been successfully tendered by Qualifying Shareholders under the Tender Offer.

Under the Option Agreement, the Company has granted a put option to Morgan Stanley which, on exercise by Morgan Stanley, obliges the Company to purchase from Morgan Stanley, at the Strike Price, the Ordinary Shares purchased by Morgan Stanley pursuant to the Tender Offer. Also, under the Option Agreement, Morgan Stanley has granted the Company a call option which, on exercise by the Company, obliges Morgan Stanley to sell to the Company, at the Strike Price, the Ordinary Shares purchased by Morgan Stanley pursuant to the Tender Offer.

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