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Finally arrived - now something to see.
Hopefully buybacks will commence shortly - June?
Longtime investor, buy backs to commence tomorrow, it's in the above RNS
How about thanks!
I missed that 2nd RNS was playing chess and losing badly!
Never mind - £2 is coming soon with the non-stop buybacks.
Mole and mikey will rock in the corner and cry!
Now then now then!. If vod hits £2 soon, I will buy you a massive drink. Check Mate.
Why exactly would
“Mole and mikey will rock in the corner and cry!”
I would be pleased for all the longterm investors who have stuck it out .
Mikey. Because you think we are all bully's?! Were you bully'd at school, but never got over it? Get a life. I have tried to be freindly with you, but you have a serios bully problem. We are possitive vod share holders. No bully, just like possitive comments.
Only one keyboard bully on here daniel - you . So don’t try saying i am calling everybody a bully . Only one person on here who attacks people for negative posts - which i hasten to add i havnt . As they say a bully always denies they are . Enough said - get back to your sad little vodafone forum life .
Lti
''Hopefully buybacks will commence shortly''
only just seen the RNS after getting back home ,that others must have already seen -
''Vodafone now intends to commence an initial €500 million share buyback programme on 15 May 2024, as part of our plans to return €2.0 billion over 12 months''.
good to see it get underway.
Just need the buyback programmes now to purchase at very cheap levels.
4 Billion Euro at the current market cap, sure would make a big dent in the number of shares on the market. Time will tell at how low a price holders of shares are willing to give them up at.
Longtime - ok I can see why
Hope it goes higher!
Still paying € 9 euro cents a share dividend whilst sitting on €33 billion of debt, despite all the major asset disposals and share buy backs...unsustainable business model imo, far fewer cash generating assets now servicing a debt pile that isn't going down it seems. JMO Adyor.
Mon
you appear to be someone with no involvement who has randomly come to the board to spout complete nonsense - and the purpose is?.
'' despite all the major asset disposals''
'' fewer cash generating assets now ''
Vodafone have disposed of non performing assets, and will be investing a good chunk of the proceeds purchasing shares in the remaining performing assets of the business at very attractive starting levels.
Now, run along.
Now would be the perfect time for Margherita to buy more stock. If she did, it would propel the shareprice northwards coming on the back of the market's now more positive take on Vodafone, post today's results.
How about eliminate debt first? Christ most the people on here Blind sighted
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
I would rather the full sale to be allocated for debt reduction, but there has to be a reason for the share buy back
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)
Yeah good shout on number 2
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.
And thats only on 500 million theres 8 x thats (4 Billion planned) so could be saving 1.5-2 billion a year
Sorry ignore lol maths a bit out, already accounted for the four billion :)
Shareholders' equity is a liability the company owes its shareholders so if they buy some back it's almost like reducing debt