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- Release Date: 28/03/12 17:13
- Summary: BUYBACK: TEL: DRP Share Buyback Programme
- Price Sensitive: No
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TEL
28/03/2012 15:13
BUYBACK
REL: 1513 HRS Telecom Corporation of New Zealand Limited
BUYBACK: TEL: DRP Share Buyback Programme
Market Information Services Section
NZX Limited
Wellington
28 March 2012
DRP Share Buyback Programme
For the purposes of section 65(2) of the Companies Act 1993, this notice
concerns those securities in Telecom Corporation of New Zealand Limited
("Telecom") that have been acquired on market by Telecom between 21 and 27
March 2012 to eliminate an increase in capital arising pursuant to Telecom's
dividend reinvestment plan ("DRP").
Details of the acquisition are as follows:
a) Class of securities acquired Ordinary Shares
ISIN NZTELE0001S4
b) Number of securities acquired
6,871,300
c) Consideration paid for securities acquired
$16,478,205 (average consideration of $2.3981 per share)
d) Identity of the sellers
Not known to Telecom
e) Number of securities cancelled on acquisition
6,871,300
f) Total number of securities on issue after acquisition and cancellation
1,913,957,773
While the DRP share buyback programme is now complete as noted above, Telecom
will continue an on-market share buyback of up to a maximum aggregate
purchase price of NZ$300 million during the 2012 calendar year.
Yours faithfully
Tristan Gilbertson
Group General Counsel & Company Secretary
End CA:00221262 For:TEL Type:BUYBACK Time:2012-03-28 15:13:02
