Virgin Media (VMED) Completes Accelerated $300M Buyback Plan
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Virgin Media Inc. (Nasdaq: VMED) announced it has completed a $300 million capped accelerated stock repurchase program previously announced on 11 November 2011 as part of its continuing Capital Return Program.
Under the completed accelerated stock repurchase program, which was conducted between 11 November 2011 and 15 December 2011, Virgin Media paid $300 million (£188.0 million) to Goldman Sachs from available cash on hand and received 11,191,061 outstanding shares, with a further 2,450,193 shares to be delivered today, for a total repurchase of 13,641,254 shares of Virgin Media common stock. The average purchase price per share of common stock was determined to be $21.99.
Under the completed accelerated stock repurchase program, which was conducted between 11 November 2011 and 15 December 2011, Virgin Media paid $300 million (£188.0 million) to Goldman Sachs from available cash on hand and received 11,191,061 outstanding shares, with a further 2,450,193 shares to be delivered today, for a total repurchase of 13,641,254 shares of Virgin Media common stock. The average purchase price per share of common stock was determined to be $21.99.
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