REG - Vodafone Group Plc - €480 MILLION SHARE BUYBACK PROGRAMME TO COMMENCE

VodafoneAnnouncement

04/02/2025 07:15

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RNS Number : 7406V  Vodafone Group Plc  04 February 2025

4 February 2025

 

Vodafone Group Plc

€480 MILLION SHARE BUYBACK PROGRAMME TO COMMENCE

 

 

Vodafone Group Plc ("Vodafone") today announces that it will commence a share
repurchase programme of ordinary shares in the share capital of Vodafone of
US$0.20 each (the "Ordinary Shares") up to a maximum consideration of €480
million (the "Programme").

 

Vodafone announces that it has given a non-discretionary instruction to
Goldman Sachs International ("GSI") in relation to the purchase by GSI, acting
as riskless principal during the period commencing on 4 February 2025 and
ending no later than 19 May 2025, of Ordinary Shares for a target expense
amount of no greater than €480 million and the simultaneous on-sale of such
Ordinary Shares by GSI to Vodafone.

 

Any purchase of Ordinary Shares done in relation to this announcement will be
carried out on the London Stock Exchange and Multilateral Trading Facilities,
as defined by the Directive 2014/65/EU on markets in financial instruments
(including the delegated and implementing acts adopted under it) as
implemented, retained, amended, extended, re-enacted or otherwise given effect
in the United Kingdom from 1 January 2021 and as amended or supplemented in
the United Kingdom thereafter, and executed in accordance with the UK Listing
Rules and Vodafone's general authority to make market purchases of Ordinary
Shares granted by shareholders at the 2024 Annual General Meeting ("2024 AGM")
pursuant to which the Company is authorised to repurchase up to 4,053,092,397
Ordinary Shares. The sole purpose of the Programme is to reduce share capital.
Ordinary Shares acquired by GSI will be subsequently repurchased by Vodafone,
held as treasury shares and then either cancelled or allocated to employee
share awards as they fall due.

 

The Ordinary Shares will be purchased in accordance with the price and volume
conditions set out in the Commission Delegated Regulation (EU) 2016/1052 of 8
March 2016 supplementing Regulation (EU) No 596/2014 of the European
Parliament and of the Council with regard to regulatory technical standards
for the conditions applicable to buyback programmes and stabilisation measures
as implemented, retained, amended, extended, re-enacted or otherwise given
effect in the United Kingdom from 1 January 2021 and as amended or
supplemented in the United Kingdom thereafter.

 

Details of the authority granted at the 2024 AGM can be found within the 2024
Notice of Meeting on our website.

 

 

 For more information, please contact:
 Investor Relations:  i (https://investors.vodafone.com/) nvestors.vodafone.com  ir@vodafone.co.uk (mailto:ir@vodafone.co.uk)  Media Relations:  Vodafone.com/media/contact (https://vodafone.com/media/contact)  GroupMedia@vodafone.com (mailto:GroupMedia@vodafone.com)
                      (https://investors.vodafone.com/)

 

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