Virgin Media 2011 Annual Report Download - page 163

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VIRGIN MEDIA INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
Note 20—Subsequent Events
On February 8, 2012, we entered into a $250 million capped accelerated stock repurchase agreement under
the 2011 capital optimization program. Under the terms of this agreement, we paid $250 million from cash on
hand to repurchase outstanding shares of our common stock. On February 13, 2012, we received an initial
delivery of 7.5 million shares under this agreement. The total number of shares that we will ultimately receive
will be based generally on the daily volume-weighted average share price of our common stock over a defined
time period, the end of which is expected to be no later than May 9, 2012.
F-74