Telenet initiates Share Repurchase Program 2016
Wednesday, February 10, 2016 —
Today, Telenet Group Holding NV ("Telenet" or the "Company") (Euronext Brussels: TNET) announces the initiation, as of February 15, 2016, of a new share repurchase program (the "Share Repurchase Program 2016"). Under this program, Telenet may acquire from time to time its common stock, to a maximum of 1,100,000 shares, for a maximum consideration of 50.0 million, 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 April 30, 2014.
Telenet has mandated an intermediary to purchase Telenet shares on its behalf. The timing of the repurchase of shares pursuant to the program will be decided by such intermediary independently of Telenet and depends on a variety of factors, including market conditions. During the repurchase program, the Company will publish regularly press releases with updates on the progress made (if any), as required by law. This information will also be available on the investor relations pages of our website (investors.telenet.be) under the Shareholders section. All repurchased shares will be held by the Company to cover the Company's obligations under existing stock option plans.