Share Buyback Prorgramme

Vianet Group PLC

03 December 2024

 

Vianet Group plc

("Vianet" or the "Company")

Share Buyback

Vianet, the international provider of internet-enabled, cloud based, telemetric and data services to the hospitality, unattended retail vending and remote asset management sectors, is pleased to announce that it intends to conduct on-market purchases (the "Purchases") pursuant to the authorities obtained at the Company's last annual general meeting ("AGM") held on 18 July 2024 (the "Authority").

The Purchases, which will be funded from the Company's existing cash resources, are intended to reduce the share capital of the Company and will take place within the limitations of the Authority granted by shareholders to the Board of Vianet at the AGM.  The Purchases will commence with immediate effect and will, unless terminated at an earlier date, expire on at the conclusion of the 2025 AGM, or 18 July 2025, whichever is earlier (the "Expiry Date").

The maximum price which may be paid by the Company per Ordinary Share shall not be more than 5 per cent above the average middle market quotations for an Ordinary Share (as derived from the London Stock Exchange AIM All-Share List) for the five business days immediately preceding the date on which such share is contracted to be purchased. 

Share purchases will take place in open market transactions and may be made from time to time depending on market conditions, share price, trading volume and other factors and will not be independently managed by a broker.   Purchases will not take place during the Company's close periods. 

Vianet 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 Company's 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.

There is no guarantee that any Purchases will be made.  The Company will make further announcements in due course following any Purchases.

As at the time of this announcement, the Company's total issued share capital consists of 29,438,164   Ordinary Shares with one voting right per share. The Company does not hold any Ordinary Shares in treasury, therefore, the total number of Ordinary Shares carrying voting rights is 29,438,164   .

The above figure of 29,438,164   may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018). 

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.cavendish.com

 

END