Vodafone Group Plc Conclusion of share buy-back programme (7481Z)
22 May 2019 - 12:50AM
UK Regulatory
TIDMVOD
RNS Number : 7481Z
Vodafone Group Plc
21 May 2019
Vodafone Group Plc ('Vodafone')
ISIN Code: GB00BH4HKS39
Conclusion of share buy-back programme
Vodafone announces that on 20 May 2019 it concluded the
irrevocable and non-discretionary share buy-back programme (the
'Programme') that it announced on 28 January 2019. J.P. Morgan
Securities plc acted as principal during the Programme and made all
trading decisions concerning the timing of the purchases of
Vodafone's ordinary shares pursuant to the Programme independently
of Vodafone.
The sole purpose of this Programme was to reduce the issued
share capital of Vodafone and thereby to avoid any change in
Vodafone's issued share capital as a result of the maturing of the
second tranche of a two-tranche mandatory convertible bond ('MCB')
issued by Vodafone in February 2016. As announced on 19 February
2016, when the MCB was issued Vodafone also entered into an
accompanying option structure.
The Programme was financed out of the proceeds from Vodafone's
Verizon loan notes, which Vodafone received in two tranches as
partial consideration for the sale of its 45% stake in Verizon
Wireless in 2014. Vodafone received US$2.5 billion in cash in May
2018 following the redemption of the second tranche of these loan
notes.
Vodafone purchased 799,067,755 ordinary shares under the
Programme, this is below the limit Vodafone announced for the
Programme on 28 January 2019 and below the number of ordinary
shares permitted to be purchased by Vodafone pursuant to the
authority granted by the shareholders at the Annual General Meeting
of Vodafone on 27 July 2018 (2,667,653,504 ordinary shares).
The purchased shares are being held as treasury shares.
Following the settlement of the shares purchased on 20 May 2019,
Vodafone will hold 2,091,894,691 of its ordinary shares in treasury
and have 26,723,381,357 ordinary shares in issue (excluding
treasury shares).[1]
This announcement will also be available on Vodafone's website
at:
http://www.vodafone.com/content/index/investors/investor_information/press_regulatory/uk_regulatory.html
Enquiries to:
Investor relations: Telephone +44 (0) 7919 990 230
Media: www.vodafone.com/media/contact
[1] Excluding shares transferred out of treasury to satisfy
employee share plan obligations.
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END
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