DUNSTABLE (dpa-AFX) - Whitbread Plc (WTB.L) proposed a return of up to 2 billion pounds to shareholders by way of a tender offer. This is the second phase of a three-phase return of capital programme in connection with the disposal of Costa. The tender offer will open on 20 June 2019 and will close on 19 July 2019, and is available to all qualifying shareholders through the purchase of up to 43,466,603 ordinary shares, representing up to approximately 24.99 percent of the issued ordinary share capital.
In February, in connection with the net cash proceeds received by the disposal of Costa to The Coca-Cola Company, Whitbread announced its intention to return a total of at least 2.5 billion pounds to shareholders. The first was completed through a share buyback programme. If the full amount is not returned via the tender offer, the Board will consider a possible third phase.
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