LONDON, Nov. 20 /PRNewswire/ -- BT Group plc today received court approval
for the reduction of its share capital, whereby the nominal value of each
issued BT Group ordinary share will be reduced from 115 pence to 5 pence.
This is to increase the level of distributable reserves available for future
distributions to shareholders of BT Group, creating a new reserve in the books
of BT Group of approximately 9.5 billion pounds sterling, or otherwise to
facilitate any future transactions.
The BT Group reduction of capital is expected to become effective on
Wednesday, November 21, 2001.
The contents of this press announcement, which has been issued by, and is
the sole responsibility of, BT Group plc, has been approved by Cazenove & Co.
Ltd which is regulated in the UK by The Securities and Futures Authority,
solely for the purposes of Section 57 of the Financial Services Act 1986.
Prices and values of, and income from, shares may go down as well as up and an
investor may not get back the amount invested. It should be noted that past
performance is no guide to future performance. Persons needing advice should
consult an independent financial adviser.
Inquiries about this news release should be made to the BT Group Newsroom
on its 24-hour number: 020 7356 5369. From outside the UK, dial
+ 44 20 7356 5369. All news releases can be accessed at BT Group's web site:
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SOURCE BT Group plc