Hollywood Bowl launches new £10m share buyback
By Josh White
Date: Tuesday 18 Feb 2025
(Sharecast News) - Hollywood Bowl Group launched a new share buyback programme worth up to £10m on Tuesday, following shareholder authorisation granted at its annual general meeting on 30 January.
The FTSE 250 bowling and leisure operator said the initiative, which would start on Tuesday and run until no later than 29 January 2026, was being conducted through non-discretionary agreements with Investec and Berenberg.
It said the buyback reflected its strong cash generation and balance sheet strength, aligning with its capital allocation policy.
The board said it viewed the programme as an efficient way to return excess capital to shareholders while continuing to invest in business growth.
It followed a similar buyback announced in February last year.
The company said the purpose of the repurchase was to reduce its share capital, with all acquired shares set for cancellation.
At 0837 GMT, shares in Hollywood Bowl Group were up 2.2% at 279p.
Reporting by Josh White for Sharecast.com.
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