Vodafone Group Plc MANDATORY CONVERTIBLE BOND & ASSOC'D SHARE BUYBACK (0087S)
March 12 2021 - 1:00AM
UK Regulatory
TIDMVOD
RNS Number : 0087S
Vodafone Group Plc
12 March 2021
12 March 2021
Vodafone Group Plc
MATURING MANDATORY CONVERTIBLE BOND AND INTENTION TO LAUNCH AN
ASSOCIATED SHARE BUYBACK PROGRAMME
In March 2019, Vodafone Group Plc ('Vodafone') issued a
two-tranche mandatory convertible bond ('MCB'), the first tranche
of which (GBP1,720,000,000 1.20 per cent. Subordinated Mandatory
Convertible Bonds; ISIN XS1960588850) matures today, 12 March 2021,
and the second tranche of which is due to mature in March 2022. In
order to satisfy the conversion of the first tranche of the MCB,
1,426,710,898 shares will be issued from treasury today at a
conversion price of GBP1.2055. This reflects the conversion price
at issue (GBP1.3505) adjusted for the pound sterling equivalent of
aggregate dividends paid in August 2019, February 2020, August 2020
and February 2021.
As a result, Vodafone today announces it intends to commence a
new share buy-back programme on 22 March 2021 (the 'Programme').
Further details of the Programme, including the target number of
shares to be repurchased, will be announced in due course.
Details of the mandatory convertible bond can also be found on
our website under:
https://www.vodafone.com/news/press-release/mandatory-convertible-bonds
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