Whitbread PLC (LSE:WTB) commences share repurchases on October 18, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 22, 2023. As per the mandate, the company is authorized to repurchase up to 20,091,080 shares, representing 10% of the issued share capital. The minimum price which may be paid for an ordinary share is nominal amount of that share.

The maximum price which may be paid for each ordinary share is an amount equal to the higher of 5%above the average of the middle market quotations for an ordinary share for the five business days immediately preceding the day on which the ordinary share is contracted to be purchased, and the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out . The repurchased shares will be cancelled or held in treasury. Unless previously revoked or varied, the share repurchase program shall expire at the earliest of the conclusion of the next Annual General Meeting in 2024, or, if earlier, September 22, 2024.

As of May 15, 2023, the company had 213,365,520 ordinary shares in issue of which 12,454,718 ordinary shares were held in treasury.