Virgin Media 2011 Annual Report Download - page 9

During the year ended December 31, 2011, we repurchased approximately 40.9 million shares of common
stock at an average purchase price per share of $25.03 ($1,022.5 million in aggregate), of which approximately
17.1 million shares were repurchased through open market repurchases at an average purchase price per share of
$27.64 ($472.5 million in aggregate) and approximately 23.8 million shares were repurchased through capped
accelerated stock repurchase programs at an average purchase price per share of $23.15 ($550 million in
aggregate). Approximately 12.0 million shares of common stock were repurchased through open market
repurchases under the 2010 capital structure optimization program at an average purchase price per share of
$28.83 ($345.5 million in aggregate), and approximately 28.9 million shares of common stock were repurchased
under the 2011 capital structure optimization program consisting of approximately 5.1 million shares under open
market repurchases at an average purchase price per share of $24.86 ($127.0 million in aggregate) and
approximately 23.8 million shares under capped accelerated stock repurchase programs at an average purchase
price per share of $23.15 ($550 million in aggregate). The capped accelerated stock repurchase programs under
the 2011 capital structure optimization program were executed by entering into an agreement with a counterparty
on September 8, 2011 to effect a $250.0 million (£156.6 million) capped accelerated stock repurchase program
under which we received approximately 10.1 million shares of our common stock at an average purchase price
per share of $24.71, and by entering into another agreement with the same counterparty on November 10, 2011 to
effect a further $300.0 million (£188.0 million) capped accelerated stock repurchase program under which we
received approximately 13.6 million shares of our common stock at an average purchase price per share of
$21.99.
The shares of common stock acquired in connection with both the 2010 and 2011 capital structure
optimization programs were cancelled.
Strategic Objectives
Our strategic objectives in 2012 revolve around maximizing our network infrastructure to offer
differentiated products and services while retaining strong cost control and financial discipline. We will continue
to enhance the connectivity and applications enjoyed by our cable customers and will seek to grow our Business
segment revenues through a focus on managed data services.
Available Information and Website
Our principal executive offices are located at 909 Third Avenue, Suite 2863, New York, New York 10022,
United States, and our telephone number is [phone]. Our U.K. headquarters are located in Hook,
Hampshire, England. The public may read and copy any materials we file with the SEC at the SEC’s Public
Reference Room at 100 F Street, NE, Washington, DC 20549. The public may obtain information on the
operation of the Public Reference Room by calling the SEC at (800) SEC-0330. Our annual reports
on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and any amendments to such
reports filed with or furnished to the SEC under Section 13(a) or 15(d) of the U.S. Securities Exchange Act of
1934, as amended, or the Exchange Act, are available free of charge on the SEC’s website at www.sec.gov and
on our website at www.virginmedia.com, as soon as reasonably practicable after they are filed with, or furnished
to, the SEC. The investor relations section of our website can be accessed by going to www.virginmedia.com/
investors. Our press releases which provide notice of upcoming presentations including the relevant
dial-in-details where applicable are also provided on our website. The information on our website is not
incorporated into our SEC filings.
Our Business
Our Cable Network Advantage
Our network infrastructure includes hybrid fiber coaxial cable, or HFC, with optical fiber deployed to street
cabinets, and a twinned cable, consisting of both high-capacity coaxial cable and twisted copper-pair elements.
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