Liberty Global Increases Repurchase Program By $1 Bln - Quick Facts

(RTTNews) - Liberty Global Plc. (LBTYA, LBTYB, LBTYK) announced Monday that its board has approved the authorization of a $1.0 billion increase to its two-year $3.5 billion stock repurchase program, bringing its total program to $4.5 billion, of which about $700 million was utilized through September 30, 2013. In connection with the increase, the Board of Directors has extended its intention to complete the Program from mid-2015 to year-end 2015.

Separately, the Board of Directors has approved a stock dividend of one Liberty Global Class C ordinary share on each outstanding Class A, Class B and Class C ordinary share.

Based on the company's shares issued and outstanding of 394.6 million as of December 13, 2013 (consisting of 222.0 million Class A ordinary shares, 10.2 million Class B ordinary shares and 162.4 million Class C ordinary shares), upon completion of the stock dividend the company would have total issued and outstanding shares of approximately 789.1 million, including approximately 557.0 million Class C ordinary shares.

As a result of the stock dividend, each shareholder of record as of on February 14, 2014, the record date for the stock dividend, will receive one Class C ordinary share for each Class A ordinary share, Class B ordinary share and Class C ordinary share held on the record date. The Class C ordinary shares to be issued pursuant to the stock dividend will be issued on March 3, 2014. As the issuance date for the stock dividend is March 3, 2014, the company expects that NASDAQ will set Tuesday, March 4, 2014 as the ex-dividend date for the stock dividend.

Earlier today, the U.S. cable group Liberty Global and Dutch broadband provider Ziggo N.V. have reached a conditional agreement on a recommended offer pursuant to which Liberty Global will acquire Ziggo in a stock and cash transaction valuing Ziggo at about 10.0 billion euros or $13.7 billion.