REG - Vianet Group PLC - Share Buyback Prorgramme

VianetAnnouncement

03/12/2024 12:15

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RNS Number : 6366O  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       Tel: +44 (0) 1642 358 800

 Mark Foster, CFO                    www.vianetplc.com (http://www.vianetplc.com)

 Cavendish Capital Markets Limited
 Stephen Keys / Camilla Hume         Tel: +44 (0) 20 7220 0500

                                     www.cavendish.com (http://www.cavendish.com)

 

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