VNET Vianet Group Plc

TIDMVNET

RNS Number : 9844S

Vianet Group PLC

09 November 2023

Vianet Group plc

("Vianet" or the "Company")

Further re Share Buyback

Further to the Company's announcement on 7 November 2023, the Company makes the following clarifications in relation to its intention to conduct on-market purchases (the "Purchases") .

The Purchases will be conducted within the limitations of the Company's authority to make market purchases of its own ordinary shares granted to the Board of Vianet at the Company's Annual General Meeting held on 5 September 2023 (the "Authority").

The Purchases, which will be funded from the Company's existing cash resources, may be made from time to time dependent on market conditions, share price trading volumes and other factors and will not be independently managed by a broker. Purchases will not take place during the Company's close periods. The Company intends to cancel the repurchased Ordinary Shares.

Due to the limited liquidity in the issued ordinary shares, a buyback of ordinary shares pursuant to the Authority on any given trading day may represent a significant proportion of the daily trading volume in the ordinary shares on AIM and could exceed 25 per cent. of the average daily trading volume and, accordingly, the Company will not benefit from the exemption contained in Article 5(1) of Regulation (EU) 596/2014 as adopted in UK law by the European (Withdrawal) Act 2018.

The Company will make further announcement in due course following any Purchases.

Enquiries:

 
 Vianet Group plc 
 James Dickson, Chairman & CEO         Tel: +44 (0) 1642 358 
  Mark Foster, CFO                                       800 
                                           www.vianetplc.com 
 
   Cavendish Capital Markets Limited 
 Stephen Keys / Camilla Hume            Tel: +44 (0) 20 7397 
                                                        8900 
                                              www.cenkos.com 
 
 

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November 09, 2023 08:10 ET (13:10 GMT)

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