Last checked at 16 May 2016 08:30
16 May 2016
BT Group plc
Transactions in own shares
BT Group plc (the "Company") announces that it has instructed commencement of a non-discretionary programme to purchase up to £150 million worth of ordinary shares to be held as treasury shares, during the period beginning on 16 May 2016 and ending on or before 30 June 2016. This forms part of the previously announced c£200 million annual share buyback, to help offset the dilutive effect of maturing all-employee share plans.
This buyback programme will be managed by J.P. Morgan Securities plc, an independent third party that the Company has duly authorised to make trading decisions independently of, and uninfluenced by, the Company.
Any acquisitions will be effected within certain pre-set parameters, and in accordance with both the Company's general authority to repurchase shares and Chapter 12 of the Listing Rules which requires that the maximum price paid be limited to no more than the lower of: (i) 5 per cent above the average market value for the shares as derived from the London Stock Exchange Daily Official List for the five business days immediately prior to such purchase; and (ii) an amount equal to the higher of the price of the last independent trade of a share and the highest current independent bid for a share, in each case on the London Stock Exchange.
Contacts:
Investor relations:
Damien Maltarp Tel: 020 7356 4909
Press office:
Ross Cook Tel: 020 7356 5369
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