Dalata Hotel Group PLC: Share buy-back

Dalata Hotel Group plc

 

("Dalata" or the "Company")

 

€30 million share buy-back

 

Dublin and London | Today, 4 September 2024, in its Half Year Results for the six month period ending 30 June 2024, Dalata announced it will launch a share buy-back programme of up to €30 million (the "Buy-back Programme").

The Company has entered into non-discretionary agreements with J Davy (“Davy”) and Joh. Berenberg, Gossler Co. KG, London Branch (“Berenberg”) to purchase the Company’s Ordinary Shares of EUR 0.01 pence (the "Shares") for an aggregate value (excluding expenses) of up to €30 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 in 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 (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 Share Buy-back Programme.

Details of any ordinary 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

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 €1.7bn 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 €302 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