Conclusion of share buy-back programme

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 [phone]

Media: www.vodafone.com/media/contact

 

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