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
For media enquiries, Hollie Conway
press@trainline.com
Brunswick Group
Simone Selzer
+44 207 404 5959 / 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.