Vianet Group PLC

Share Buyback

RNS Number : 4613C
Vianet Group PLC
22 February 2022

Vianet Group plc

("Vianet" or the "Company")

Share Buyback

Vianet, the international provider of internet-enabled, cloud based, telemetric and data services to the hospitality, unattended retail vending and remote asset management sectors , is pleased to announce t hat it intends to conduct on-market purchases under a share buyback programme (the "Programme") pursuant to the authorities obtained at the Company's last annual general meeting held on 13 July 2021 ("AGM"). Purchases of ordinary shares of 10 p each ("Ordinary Shares") under the Programme will be limited to an aggregate amount of £200,000 of Ordinary Shares (by market value).

The Programme, which will be funded from the Company's existing cash resources, is intended to reduce the share capital of the Company and will take place within the limitations of the authority granted by shareholders to the Board of Vianet at the AGM.  The Programme will commence with immediate effect and will, unless terminated at an earlier date, expire on at the conclusion of the 2022 AGM, or 13 July 2022, whichever is earlier (the "Expiry Date").

The maximum price which may be paid by the Company per Ordinary Share shall not be more than 5 per cent above the average middle market quotations for an Ordinary Share (as derived from the London Stock Exchange AIM All-Share List) for the five business days immediately preceding the date of on which such share is contracted to be purchased.  

Share purchases will take place in open market transactions and may be made from time to time depending on market conditions, share price, trading volume and other factors.  The Company has appointed Cenkos Securities Plc to manage the Programme and make market purchases of Ordinary Shares on its behalf, independently of the Company.

Vianet intends to cancel the repurchased Ordinary Shares.

The Company has determined that it will not rely on the safe harbour conditions for trading set out in Article 3(2) and Article 3(3) of the Commission Delegated Regulation (EU) 2016/1052 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) given the limited liquidity in the Ordinary Shares and limitations that the conditions would impose on the number of Ordinary Shares that can be purchased and, as such, the Company may (a) purchase Ordinary Shares at a price higher than the higher of the price of the last independent trade and the highest current independent bid for an Ordinary Share, and (b) purchase on any trading day materially in excess of 25 per cent of the average daily volume in the 20 trading days preceding the date on which the purchase is carried out.

Purchases may continue during any closed period to which the Company is subject to from the date of this announcement to the Expiry Date.

There is no guarantee that the Programme will be implemented in full or that any purchases will be made. 

As at the time of this announcement, the Company's total issued share capital consists of 28,953,414 Ordinary Shares with one voting right per share. The Company does not hold any Ordinary Shares in treasury, therefore, the total number of Ordinary Shares carrying voting rights is 28,953,414.

The above figure of 28,953,414 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018). 



Vianet Group plc

James Dickson, Chairman & Interim CEO

Mark Foster, CFO

Tel: +44 (0) 1642 358 800


Cenkos Securities plc

Stephen Keys / Camilla Hume

Tel: +44 (0) 20 7397 8900  

Media enquiries:

Yellow Jersey PR

Sarah Hollins

Henry Wilkinson 

[email protected]

  Tel: +44 (0)7764 947 137

  Tel: +44 (0)7951 402 336



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