Vianet Group plc
("Vianet" or the
"Company")
Share Buyback
Vianet, the international provider of
internet-enabled, cloud based, telemetric and data services to the
hospitality, unattended retail vending and remote asset management
sectors, is pleased to announce that it intends to conduct
on-market purchases (the "Purchases") pursuant to the
authorities obtained at the Company's last annual general meeting
("AGM") held on 18 July 2024 (the "Authority").
The Purchases, which will be funded from the
Company's existing cash resources, are intended to reduce the share
capital of the Company and will take place within the limitations
of the Authority granted by shareholders to the Board of Vianet at
the AGM. The Purchases will commence with immediate effect
and will, unless terminated at an earlier date, expire on at the
conclusion of the 2025 AGM, or 18 July 2025, whichever is earlier
(the "Expiry Date").
The maximum price which may be paid by the
Company per Ordinary Share shall not be more than 5 per cent above
the average middle market quotations for an Ordinary Share (as
derived from the London Stock Exchange AIM All-Share List) for the
five business days immediately preceding the date on which such
share is contracted to be purchased.
Share purchases will take place in open market
transactions and may be made from time to time depending on market
conditions, share price, trading volume and other factors and will
not be independently managed by a broker. Purchases
will not take place during the Company's close
periods.
Vianet intends to cancel the repurchased
Ordinary Shares.
Due to the limited liquidity in the issued
ordinary shares, a buyback of ordinary shares pursuant to the
Authority on any given trading day may represent a significant
proportion of the daily trading volume in the Company's ordinary
shares on AIM and could exceed 25 per cent. of the average daily
trading volume and, accordingly, the Company will not benefit from
the exemption contained in Article 5(1) of Regulation (EU) 596/2014
as adopted in UK law by the European (Withdrawal) Act
2018.
There is no guarantee that any Purchases will
be made. The Company will make further announcements in due
course following any Purchases.
As at the time of this announcement, the
Company's total issued share capital consists of
29,438,164 Ordinary Shares with one voting right
per share. The Company does not hold any Ordinary Shares in
treasury, therefore, the total number of Ordinary Shares carrying
voting rights is 29,438,164 .
The above figure
of 29,438,164 may be used by shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in, the Company under the FCA's Disclosure Guidance
and Transparency Rules.
This announcement contains inside information
for the purposes of Article 7 of EU Regulation 596/2014 (which
forms part of domestic UK law pursuant to the European Union
(Withdrawal) Act 2018).
Enquiries:
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Vianet Group plc
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James Dickson, Chairman &
CEO
Mark Foster, CFO
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Tel: +44
(0) 1642 358 800
www.vianetplc.com
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Cavendish Capital Markets Limited
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Stephen Keys / Camilla Hume
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Tel: +44
(0) 20 7220 0500
www.cavendish.com
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