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Whitbread Plc - Result of Tender Offer

Whitbread PLC announces completion of Tender Offer and Total Voting Rights

Whitbread PLC ("Whitbread" or the "Company") confirms 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.