PPHE Hotel Group Limited (LSE:PPH) commences share repurchases on June 30, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 17, 2022. As per the mandate, the company is authorized to repurchase up to 4,254,077 shares, representing 10%of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share is £0.01 and the maximum price which may be paid for each ordinary share is the higher an amount equal to 105% of the average of the middle market quotations for an ordinary share as derived from the London Stock Exchange Daily Official List of the UK Listing Authority for the five business days immediately preceding the day on which the ordinary share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade of an ordinary share and the current highest independent bid for an ordinary share as derived from the London Stock Exchange Trading System. The shares purchased may either be cancelled or held as treasury shares. The authority will expire on the conclusion of the next annual general meeting of the Company or, if earlier, 15 months after this resolution is passed. As of February 28, 2022, the company had 42,540,767 ordinary shares in issue and 1,806,643 ordinary shares in treasury.

On June 29, 2022, the company announced a share repurchase program. Under the program, the company has entered into an instruction with Jefferies International Limited to repurchase up to 300,000 ordinary Shares, for £1.70 million. The repurchases will commence on June 29, 2022 and end no later than June 29, 2023 or, if earlier, such time that the company's existing share buyback authorities expire being the Company's next AGM.