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Pin to quick picksBT Regulatory News (BT.A)

Share Price Information for BT (BT.A)

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BT intended share repurchase from Orange

27 Jun 2019 17:58

RNS Number : 7322D
BT Group PLC
27 June 2019
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES, CANADA, JAPAN, AUSTRALIA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

 

27 June 2019

 

BT Group intends to repurchase up to £80 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 £80 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

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
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