REG - Trainline PLC - Announcement of share repurchase programme

TrainlineAnnouncement

03/05/2024 07:00

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RNS Number : 0887N  Trainline PLC  03 May 2024

For immediate release

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

TRAINLINE PLC

Announcement of share repurchase programme

 3 May 2024

 

 

Trainline plc ("Trainline", the "Company" or the "Group") announces today it
will commence a share repurchase programme of its ordinary shares of 1p each
(the "Ordinary Shares") up to a maximum consideration of £75,000,000 (the
"Programme") over 12 months, in line with our stated capital allocation
framework. The Programme is to commence following the completion of the
current £50,000,000 share repurchase programme, which commenced on 14
September 2023.

Trainline has entered into an instruction with Morgan Stanley & Co.
International Plc ("Morgan Stanley") in relation to the purchase by Morgan
Stanley, acting on a riskless principal basis, during the period commencing
upon completion of the current share repurchase programme (which will end no
later than 13 September 2024) of ordinary shares in the share capital of
Trainline (the "Shares") for an aggregate purchase price of no greater than
£75,000,000 (excluding stamp duties, fees and levies) and the simultaneous
on-sale of such Shares by Morgan Stanley to Trainline.

Any purchase of Ordinary Shares done in relation to this announcement will be
executed in accordance with  (i) the terms and parameters of Morgan Stanley's
engagement; (ii) the relevant regulations, including the EU Market Abuse
Regulation (596/2014), the Commission Delegated Regulation (2016/1052), in
each case as such legislation forms part of retained EU law (as defined in the
EU (Withdrawal) Act 2018), and Chapter 12 of the Financial Conduct Authority's
Listing Rules  and (iii) Trainline's general authority to make market
purchases of Shares as approved by shareholders at the 2023 AGM.

Trainline will announce any market repurchase of Ordinary Shares no later than
7.30 a.m. on the business day following the calendar day on which the
repurchase occurred. To the extent permitted by law, Ordinary Shares purchased
under the Programme will either be cancelled or held in treasury.

 

The person responsible for arranging the release of this announcement on
behalf of Trainline is Martin McIntyre, Company Secretary.

 

Enquiries

For investor enquiries, Andrew Gillian
investors@trainline.com (mailto:investors@trainline.com)

For media enquiries, Hollie Conway  press@trainline.com
(mailto:press@trainline.com)

 

Brunswick Group

Simone
Selzer
+44 207 404 5959 / trainline@brunswickgroup.com
(mailto:trainline@brunswickgroup.com)

 

About Trainline:

Trainline (www.trainline.com) is the leading independent rail and coach travel
platform selling rail and coach tickets to millions of travellers worldwide,
enabling them to seamlessly search, book and manage their journeys all in one
place via its highly rated website and mobile app. Trainline is a one-stop
shop for rail and coach travel bringing together millions of routes, fares and
journey times from rail and coach carriers across Europe.

 

This announcement does not constitute, or form part of, an offer or any
solicitation of an offer for securities in any jurisdiction.

 

This announcement includes forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties, many of which
are beyond the Group's control and all of which are based on the Directors'
current beliefs and expectations about future events. Forward-looking
statements are sometimes identified by the use of forward-looking terminology
such as "guidance", "believe", "expects", "may", "will", "could", "should",
"shall", "risk", "intends", "estimates", "aims", "plans", "predicts",
"continues", "assumes", "positioned", "targets" or "anticipates" or the
negative thereof, other variations thereon or comparable terminology. These
forward-looking statements include all matters that are not historical facts
and include statements regarding the intentions, beliefs or current
expectations of the Directors or the Group concerning, among other things, the
results of operations, financial condition, prospects, growth, strategies, and
dividend policy of the Group and the industry in which it operates. No
assurance can be given that such future results will be achieved; actual
events or results may differ materially as a result of risks and uncertainties
facing the Group. Such risks and uncertainties could cause actual results to
vary materially from the future results indicated, expressed, or implied in
such forward-looking statements. Such forward-looking statements contained in
this announcement speak only as of the date of this announcement.

 

 

 

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