Self Tender Offer
August 13, 2012
On August 13, 2012, Telenet announced the initiation of another share repurchase program, referred to as the "Self Tender Offer". Under this Self Tender Offer, the Company intended to acquire up to a maximum of 20,673,043 of its outstanding ordinary shares, or 18.20% of the share capital of the Company at that time, at a price of €35.00 per share. This price was to be adjusted downwards by the gross amount of any distributions prior to the closing of the tender offer (including the €3.25 per share paid on August 31, 2012 pursuant to the capital decrease approved by the extraordinary shareholders' meeting on April 25, 2012) effective as of the date of any such distribution.
Because of the announcement of the Self Tender Offer, the previously approved Share Repurchase Program 2012 was terminated as of August 13, 2012 and had been executed for approximately 91% of the committed amount.
The extraordinary shareholders meeting of September 13, 2012, approved to cancel the shares repurchased under the Self Tender Offer with immediate effect.
The Self Tender Offer was cancelled on September 20, 2012, before the final approval of the prospectus in this respect by the board of directors, due to the voluntary and conditional public takeover bid by Binan Investments B.V. on the remaining outstanding shares of the Company announced on that date.