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Rolls would not break 100p. How things change!
Gutter, sometimes you have to hold your hand up and admit you got it wrong, this is moving away from the 60s now, time to man up mate
Very much doubt the sp will 'double'.
Shareholders' equity is a liability the company owes its shareholders so if they buy some back it's almost like reducing debt
The sole purpose of the Programme is to reduce share capital. Ordinary Shares acquired by Morgan Stanley will be subsequently repurchased by Vodafone, held as treasury shares and then either cancelled or allocated to employee share awards as they fall due.
Enjoy!
Nice rise again today,this sp will have doubled by the end of the year,have a prosperous day,:)))))
Like Rolls Royce under 80p repeat. Even to break 100p will do.
Sorry ignore lol maths a bit out, already accounted for the four billion :)
And thats only on 500 million theres 8 x thats (4 Billion planned) so could be saving 1.5-2 billion a year
KingShott.
As it says in the RNS. Cancelled or allocated to share awards. I suspect share awards will probably win over cancellation.
The sole purpose of the Programme is to reduce share capital. Ordinary Shares acquired by Morgan Stanley will be subsequently repurchased by Vodafone, held as treasury shares and then either cancelled or allocated to employee share awards as they fall due.
Yeah good shout on number 2
Could be two fold,
1, Raise the share price organically to encourage buyers,
2, if they spend 4 Billion (rough 75p a share) this is approx 205 million less in dividend payments a year (0.0385p) so over 5 years is another 1 billion saving.
If your here for theshare price to rise and get out, its a benefit (i'd l;ike 95-110p please BOB lol)
I would rather the full sale to be allocated for debt reduction, but there has to be a reason for the share buy back
Should start to see a few pence rise from here --
"the period commencing on 15 May 2024 and ending no later than 15 August 2024, of Ordinary Shares for a target expense amount of no greater than €500 million and the simultaneous on-sale of such Ordinary Shares by Morgan Stanley to Vodafone"
https://www.lse.co.uk/rns/VOD/eur500-million-share-buyback-programme-to-commence-n33b6gcqtbqr9y5.html
Based on analyst ratings, Vodafone's 12-month average price target is 83.14p. What is GB:VOD's upside potential, based on the analysts' average price target? Vodafone has 13.12% upside potential, based on the analysts' average price target.
Good pay out coming - should see heavy buying. Normal behaviour.
I is still hear Barney bitter
Gerry. If sp halves, but the div stays the same, the div yield will be double, & vice versa. Of course dividend yield is based on the share price. gwm was talking about the div yield. Not like you Gerry to get that one wrong??!!
Rob.. Cheers mate. Nice to hear a sensible, balanced, freindly opinion. Could go up, could go down, but you know what I want, but if it goes the other way, that's life. No bullying or lecturing, just hoping!! I am up on my last 2 top ups, next target 94.5p so a way to go yet.
Results seemed fine to me.
He's gone quiet. Must be writing for CBS tonight...
The Net Debt should reduce by around €2 Billion following the completion of the Spain sale, due to the €4.1 Billion cash payment with €2 Billion earmarked for buybacks.
"On completion, Vodafone's consideration will comprise at least €4.1 billion in cash and up to €0.9 billion in the form of Redeemable Preference Shares ("RPS") which redeem, for an amount comprising the subscription price and accrued preferential dividend, no later than 6 years after closing.
Vodafone and Zegona have entered into an agreement whereby Vodafone will provide certain services to Vodafone Spain for a total annual service charge of c.€110 million.
The enterprise value of €5.0 billion is equivalent to a multiple of 5.3x Adjusted EBITDAaL3 and 12.7x OpFCF4 for the 12-month period ended 31 March 2023"
https://otp.tools.investis.com/clients/uk/vodafone4/rns/regulatory-story.aspx?cid=221&newsid=1730061
Vodafone have also said they'll use €2 Billion of the €8 Billion Italy sale for buybacks, so you'd expect there's thepotential to reduce Net Debt by a further €6 Billion following the Italy sale.
"Value-creating sale of Vodafone Italy to Swisscom for €8 billion upfront cash proceeds Value-creating sale of Vodafone Italy to Swisscom for €8 billion upfront cash proceeds"
https://otp.tools.investis.com/clients/uk/vodafone4/rns/regulatory-story.aspx?cid=221&newsid=1799593
"Bonds outstanding (EU and US)" (Some bonds may have already been paid)
https://investors.vodafone.com/debt-investors/bonds-outstanding-eu-and-us
https://docs.google.com/spreadsheets/d/e/2PACX-1vRA1ndHTf_Bz7O_moDxmcbWnEtcusZucUu6lEJvm3O4mGooeH4ErFjRqot3RQHBaVXCgoUED1k2CUVK/pubchart?oid=17624073&format=interactive
Hi Dan, It does seem like it's going in the right direction at last, i don't expect any overnight miracles but it will be good just to see it making it;s way back to a £1 again
best of luck mate