Telenet initiates share repurchase programme
20.19 Europe/London, August 9, 2011 By Robert Briel

Telenet Group Holding NV has announced the initiation of a share repurchase programme. Under it, the board of directors may acquire its common stock from time to time, for a maximum of 1,000,000 shares within the next nine months.

The share repurchases will happen under the conditions as approved by the extraordinary general shareholders’ meeting of May 28, 2009.

The timing of the repurchase of shares pursuant to the programme will depend on a variety of factors, including market conditions. The programme may be suspended or discontinued at any time.

Telenet has mandated an intermediary to repurchase Telenet shares on its behalf. During the repurchase programme a weekly press release will be published with an update on the progress made (if any). All repurchased shares will be held by the company to cover the company’s obligations under existing stock option plans. There will be no dividend rights for these shares for as long as they remain in possession of the company.