BT Group PLC BT intended share repurchase from Orange (7322D)
27 Giugno 2019 - 6:58PM
UK Regulatory
TIDMBT.A
RNS Number : 7322D
BT Group PLC
27 June 2019
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UNLAWFUL.
27 June 2019
BT Group intends to repurchase up to GBP80 million of shares
from Orange
Orange has today announced its intention to offer approximately
248 million shares in BT Group plc (BT) to institutional investors
by means of an accelerated bookbuild offering (the Offering). The
Offering represents approximately 2.5% of BT's issued share
capital. Following the offering, Orange will no longer be a
shareholder in BT.
BT has committed to participate in the Offering and has placed
an order to repurchase shares up to a maximum total value of GBP80
million (the Repurchase), consistent with its policy of offsetting
the dilutive effect of employee share options.
The Repurchase is subject to the satisfaction or waiver by BT of
a number of conditions, including the successful completion of the
Offering and that the offer price does not exceed the maximum
amount per share allowed under the relevant shareholder approval
given at the BT annual general meeting on 11 July 2018.
BT intends to hold the shares acquired in the Repurchase in
treasury.
The offer price and final number of shares sold will be
determined by Orange at the conclusion of the bookbuilding process
and will be announced by Orange and BT separately. The Repurchase
is expected to settle on 2 July 2019.
- ENDS -
Enquiries
Press office:
Tom Engel Tel: 020 7356 5369
Investor relations:
Mark Lidiard Tel: 020 7356 4909
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END
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