Hollywood Bowl Group plc Share Buyback Programme

RNS Number : 9028B

Hollywood Bowl Group plc

05 February 2024

 

5 February 2024

Hollywood Bowl Group plc

 

("Hollywood Bowl" or the "Group")

 

Share Buyback Programme

 

On 18 December 2023, in its Final Results for the 12 months ended 30 September 2023, Hollywood Bowl announced its intention to launch a share buyback programme of up to £10 million (the "Share Buyback Programme").

Hollywood Bowl announces that, pursuant to the Share Buyback Programme, it has entered into a non-discretionary agreement with Investec to purchase up to an initial £5 million (excluding any associated costs and stamp duty) of the Company's Ordinary Shares of 1 pence each (the "Shares") and to make trading decisions under the Share Buyback Programme independently of the Company in accordance with certain pre-set parameters. The Share Buyback Programme will commence today and end no later than 29 January 2025.

The purpose of the Share Buyback Programme is to reduce the share capital of the Company. As such, the Company will cancel any Shares purchased.

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 (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 Investec.

 

Enquiries:
Hollywood Bowl Group PLC Stephen Burns, Chief Executive Officer Laurence Keen, Chief Financial Officer Mat Hart, Chief Marketing and Technology Officer	Via Teneo
Elizabeth Snow Laura Marshall Ayo Sangobowale	[e-mail] [phone]

 

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