LONDON: Vodafone Group Plc announced today the initiation of a share repurchase program worth up to €480 million. The program will involve the repurchase of ordinary shares, priced at US$0.20 each, on the London Stock Exchange and other trading platforms.
The company has instructed Goldman Sachs International (GSI) to conduct the purchases from February 4, 2025, to May 19, 2025. GSI will act as a riskless principal, buying the shares and simultaneously selling them back to Vodafone.
The initiative, approved at Vodafone’s 2024 Annual General Meeting, aims to reduce the share capital. Shares repurchased will be held as treasury shares and either canceled or used for employee share awards. The buyback will be executed in accordance with regulatory standards.
The sole purpose of the program is to reduce share capital, Vodafone stated.