Telenet initiates share repurchase program
Regulated information
August 9, 2011
- Today, Telenet Group Holding NV ("Telenet" or the "Company") (Euronext Brussels: TNET) announced the initiation of a share repurchase program. Under this program, the Board of Directors of Telenet may acquire from time to time its common stock, for a maximum of 1,000,000 shares within the next 9 months. The share repurchases will happen under the conditions as approved by the extraordinary general shareholders' meeting of May 28, 2009.
The timing of the repurchase of shares pursuant to the program will depend on a variety of factors, including market conditions. The program may be suspended or discontinued at any time.
Telenet has mandated an intermediary to repurchase Telenet shares on its behalf. During the repurchase program a weekly press release will be published with an update on the progress made (if any). All repurchased shares will be held by the Company to cover the Company's obligations under existing stock option plans. There will be no dividend rights for these shares for as long as they remain in possession of the Company.