MANDATORY CONVERTIBLE BOND & ASSOC'D SHARE BUYBACK

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 (£1,720,000,000 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 1.2055. This reflects the conversion price at issue (£1.3505) 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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