Vodafone Group Plc Conclusion of share buy-back programme (7375W)
November 16 2017 - 6:57AM
UK Regulatory
TIDMVOD
RNS Number : 7375W
Vodafone Group Plc
16 November 2017
Vodafone Group Plc ('Vodafone')
ISIN Code: GB00BH4HKS39
Conclusion of share buy-back programme
Vodafone announces that on 15 November 2017 it concluded the
irrevocable and non-discretionary share buy-back programme (the
'Programme') that it announced on 25 August 2017. 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
first 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
December 2016 following the redemption of the first tranche of
these loan notes.
Vodafone purchased 729,077,008 ordinary shares under the
Programme, this is equal to the limit Vodafone announced for the
Programme on 25 August 2017 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 28 July 2017 (2,662,384,793 ordinary shares).
The purchased shares are being held as treasury shares.
Following the settlement of the shares purchased on 15 November
2017, Vodafone will hold 2,140,915,389 of its ordinary shares in
treasury and have 26,673,804,179 ordinary shares in issue
(excluding treasury shares).
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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