TEL
17/12/2012 10:20
GENERAL
REL: 1020 HRS Telecom Corporation of New Zealand Limited
GENERAL: TEL: Telecom finishes buyback for 2012 calendar year
MEDIA RELEASE
17 December 2012
Telecom finishes buyback for 2012 calendar year
Telecom announced in February 2012 it would undertake an on-market share
buyback of up to NZ$300 million during the 2012 calendar year, to reset
Telecom's capital structure.
Telecom has now finished the on-market share buyback for the 2012 calendar
year. 118,577,138 ordinary shares have been acquired under the buyback. The
total consideration paid for the shares is NZ$282,865,977, which represents
approximately 94% of the maximum aggregate purchase price payable under the
buyback programme.
The average price paid for the shares bought back under the buyback during
the 2012 calendar year is NZ$2.39.
ENDS
For media queries, please contact:
Andrew Pirie
Head of Communications
+64 (0) 27 555 0275
For investor queries, please contact:
Mark Laing
GM Capital Markets & Investor Relations
Telecom New Zealand
+64 (0) 27 227 5890
End CA:00231195 For:TEL Type:GENERAL Time:2012-12-17 10:20:16
Price at posting:
$2.17 Sentiment: None Disclosure: Held
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