Virgin Media Completes $300m Accelerated Stock Repurchase

Virgin Media Inc. (NASDAQ:VMED) (LSE:VMED) today announced it has completed a $300 million capped accelerated stock repurchase programme previously announced on 11 November 2011 as part of its continuing Capital Return Programme.

Under the completed accelerated stock repurchase programme, 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.

As of 20 December 2011, after giving effect to the cancellation of these shares, the number of shares of common stock issued and outstanding will be 286,493,007.