DJ Dalata Hotel Group PLC: EUR25 million share buy-back
Dalata Hotel Group PLC (DAL,DHG)
Dalata Hotel Group PLC: EUR25 million share buy-back
15-Oct-2024 / 07:05 GMT/BST
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Dalata Hotel Group plc
("Dalata" or the "Company")
EUR25 million share buy-back
Dalata Hotel Group today announces it will launch a share buy-back programme of up to EUR25 million (the "Buy-back
Programme").
The Company has entered into non-discretionary agreements with J&E Davy ("Davy") and Joh. Berenberg, Gossler & Co. KG,
London Branch ("Berenberg") to purchase the Company's Ordinary Shares of EUR 0.01 (the "Shares") for an aggregate
value (excluding expenses) of up to
EUR25 million on its behalf, and to make trading decisions under the Buy-back Programme independently of the Company in
accordance with certain pre-set parameters.
The Buy-back Programme will commence over the coming days, subject to market conditions. The Buy-back Programme is
subject to customary early termination rights and from time to time, the Board will assess the progress of this
Buy-back Programme in light of the Company's capital allocation needs.
Pursuant to the Company's capital allocation strategy the purpose of the Buy-back Programme is to reduce the share
capital of the Company. Under the terms of the Buy-back Programme, the Shares will be repurchased on Euronext Dublin
and will subsequently be cancelled.
Any purchases of Shares will be carried out within certain pre-set parameters and in accordance with the Company's
existing general authority to repurchase Shares and with the EU Market Abuse Regulation (Regulation (EU) No 596/2014)
and Commission Delegated Regulation (EU) 2016/1052 (and in each case as such legislation forms part of Retained EU Law
(as defined in the European Union (Withdrawal) Act 2018)) and Chapter 12 of the Financial Conduct Authority's Listing
Rules. During any closed periods the Company and its directors have no power to invoke any changes to the programme and
it will be executed at the sole discretion of Davy or Berenberg.
The Share Buy-back Programme may be supplemented by the purchase of ordinary shares by way of block trades effected by
Davy or Berenberg as agents for the Company in accordance with the Company's general authority to repurchase shares.
Any shares repurchased through block trades will count towards the maximum consideration payable, and the maximum
number of shares that may be purchased, by the Company under the Buy-back Programme.
Details of any Shares repurchased will be notified to a Regulatory Information Service by the Company following any
repurchase. The Company confirms that currently it has no unpublished inside information.
Contacts
Dalata Hotel Group plc investorrelations@dalatahotelgroup.com
Dermot Crowley, CEO Tel +353 1 206 9400
Carol Phelan, CFO
Niamh Carr, Head of Investor Relations and Strategic Forecasting
Joint Group Brokers
Davy: Anthony Farrell / Orla Cowzer Tel +353 1 679 6363
Berenberg: Ben Wright / Clayton Bush Tel +44 203 753 3069
Investor Relations and PR | FTI Consulting Tel +353 86 401 5250
Melanie Farrell / Rugile Nenortaite dalata@fticonsulting.com
About Dalata
Dalata Hotel Group plc is a leading hotel operator backed by EUR1.7bn in hotel assets primarily in Ireland and the UK. Established in 2007, Dalata has become Ireland's largest hotel operator with an ambitious growth strategy to expand its portfolio further in excellent locations in select, large cities in the UK and Continental Europe. The Group's portfolio comprises a mix of owned and leased hotels with 57 primarily four-star hotels operating through its two main brands, Clayton and Maldron Hotels, with 12,258 rooms and a pipeline of over 700 rooms. For the six-month period ended 30 June 2024, Dalata reported revenue of EUR302 million, basic earnings per share of
16.0 cent and Free Cashflow per Share of 21.5 cent. Dalata is listed on the Main Market of Euronext Dublin (DHG) and the London Stock Exchange (DAL). For further information visit: www.dalatahotelgroup.com
----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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ISIN: IE00BJMZDW83, IE00BJMZDW83 Category Code: MSCM TIDM: DAL,DHG LEI Code: 635400L2CWET7ONOBJ04 OAM Categories: 2.4. Acquisition or disposal of the issuer's own shares Sequence No.: 352809 EQS News ID: 2008193 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
October 15, 2024 02:05 ET (06:05 GMT)
