Telenet initiates Share Repurchase Program 2012
Today, Telenet Group Holding NV ("Telenet" or the "Company") (Euronext Brussels: TNET) announced the initiation, as of February 20, 2012, of a share repurchase program (the "Share Repurchase Program 2012"). Under this program, Telenet may acquire from time to time its common stock, to a maximum of 3,000,000 shares, for a maximum consideration of 50,000,000 EUR, within a six (6) month period. The share repurchases will be conducted under the terms and conditions approved by the extraordinary general shareholders' meeting of the Company 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.
Telenet has mandated an intermediary to purchase Telenet shares on its behalf. During the repurchase program the Company will publish a weekly press release with an update on the progress made (if any). This information will also be available on the investor relations pages of our website (investors.telenet.be). All repurchased shares will be cancelled by the Company.
This Share Repurchase Program 2012 replaces the previously approved repurchase program of 1 million shares as announced on August 9, 2011 which contained certain maximum price limits that are no longer relevant today given changed market circumstances.