Further re Share Buyback

Vianet Group PLC

09 November 2023

 

Vianet Group plc

("Vianet" or the "Company")

Further re Share Buyback

Further to the Company's announcement on 7 November 2023, the Company makes the following clarifications in relation to its intention to conduct on-market purchases (the "Purchases").

The Purchases will be conducted within the limitations of the Company's authority to make market purchases of its own ordinary shares granted to the Board of Vianet at the Company's Annual General Meeting held on 5 September 2023 (the "Authority").

The Purchases, which will be funded from the Company's existing cash resources, may be made from time to time dependent on market conditions, share price trading volumes and other factors and will not be independently managed by a broker.  Purchases will not take place during the Company's close periods.  The Company 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 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.

The Company will make further announcement in due course following any Purchases.

Enquiries:

Vianet Group plc
James Dickson, Chairman & CEO Mark Foster, CFO	Tel: [phone] www.vianetplc.com
Cavendish Capital Markets Limited
Stephen Keys / Camilla Hume	Tel: [phone]
	www.cenkos.com

 

END