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IN BRIEF: Hollywood Bowl starts £5 million share buyback

ALN

Hollywood Bowl Group PLC - Hemel Hempstead, England-based ten-pin bowling operator - Hollywood Bowl starts on Wednesday the £5 million share buyback announced with its interim results in May. The buyback will be run by investment bankers Investec and Berenberg and will be completed by September 30. All the repurchased shares will be cancelled. Hollywood Bowl says the share buyback reflects its ‘highly cash generative business model and strong balance sheet’, allowing the company to return excess capital while still investing to grow the business.

Current stock price: 274.50 pence

12-month change: up 9.6%

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