BT Group PLC Transaction in Own Shares - replacement (3701O)
May 27 2015 - 6:26AM
UK Regulatory
TIDMBT.A
RNS Number : 3701O
BT Group PLC
27 May 2015
The 'Transaction in own shares' announcement released on 27(th)
May 2015 at 11:03 under RNS No 35460, should have been issued under
the Company name of (BT Group plc) and not under the Company name
of (British Telecommunications plc).
The announcement text is unchanged and is reproduced in full
below.
27 May 2015
BT Group plc
Transactions in own shares
BT Group plc(the "Company") announces that it has instructed
commencement of a non-discretionary programme to purchase up to
GBP160 million worth of ordinary shares to be held as treasury
shares, during the period beginning on 27 May 2015 and ending on or
before 29 June 2015. This forms part of the previously announced
cGBP300m annual share buyback, to help offset the dilutive effect
of maturing all-employee share plans.
This buyback programme will be managed by J.P. Morgan Securities
plc, an independent third party that the Company has duly
authorised to make trading decisions independently of, and
uninfluenced by, the Company.
Any acquisitions will be effected within certain pre-set
parameters, and in accordance with both the Company's general
authority to repurchase shares and Chapter 12 of the Listing Rules
which requires that the maximum price paid be limited to no more
than 5 per cent above the average market value for the shares as
derived from the London Stock Exchange Daily Official List for the
five business days immediately prior to such purchase.
= ends =
This information is provided by RNS
The company news service from the London Stock Exchange
END
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