Transaction in Own Shares

RNS Number : 9723H

BT Group PLC

23 May 2014

 



23 May 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 £75 million worth of ordinary shares to be held as treasury shares, during the period beginning on 27 May 2014 and ending on or before 30 June 2014.  This forms part of the previously announced £300m annual share buyback (extended to the 2015/16 financial year), which will partly counteract the dilutive effect of all-employee share option plans maturing over this period.

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 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.

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