3rd Feb 2014 12:03
3 February 2014
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 £24 million worth of ordinary shares to be held as treasury shares, during the period beginning on 10 February 2014 and ending on or before 31 March 2014. This forms part of the previously announced share buyback programme of around £300m per year for two years, which will partly counteract the dilutive effect of all-employee share option plans maturing over that time.
This buyback programme will be managed by Merrill Lynch International, who are 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 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.
Contacts:
Investor relations:
Damien Maltarp Tel: 020 7356 4909
Press office:
Ross Cook Tel: 020 7356 5369
- : Ends : -
Related Shares:
BT