250 Vodafone Group Plc Annual Report 2024
Strategic report
Governance
Financials
Other information
Shareholder information (continued) Unaudited information
Taxation of dividends See page 253 for details on dividend taxation. Shareholders as at 31 March 2024 Number of ordinary shares held
Full details of where copies of the Articles of Association can be obtained are detailed on page 252 under ‘Documents on display’. All of the Company’s ordinary shares are fully paid. Accordingly, no further contribution of capital may be required by the Company from the holders of such shares. English law specifies that any alteration to the Articles of Association must be approved by a special resolution of the Company’s shareholders. Articles of Association The Company’s Articles of Association do not specifically restrict the objects of the Company. Directors The Directors are empowered under the Articles of Association to exercise all the powers of the Company subject to any restrictions in the Articles of Association, the Companies Act 2006 (as defined in the Articles of Association) and any special resolution. Under the Company’s Articles of Association, a Director cannot vote in respect of any proposal in which the Director, or any person connected with the Director, has a material interest other than by virtue of the Director’s interest in the Company’s shares or other securities. However, this restriction on voting does not apply in certain circumstances as set out in the Articles of Association. The Directors are empowered to exercise all the powers of the Company to borrow money, subject to the limitation that the aggregate amount of all liabilities and obligations of the Group outstanding at any time shall not exceed an amount equal to 1.5 times the aggregate of the Group’s share capital and reserves calculated in the manner prescribed in the Articles of Association, unless sanctioned by an ordinary resolution of the Company’s shareholders. Purchase of own shares The Company can make market purchases of its own shares or agree to do so in the future provided it is duly authorised by its members in a general meeting and subject to and in accordance with section 701 of the Companies Act 2006. Such authority was given at the 2023 AGM.
Number of accounts 19,179 9,367 4,003
% of total of issued shares
1–1,000 1,001–5,000 5,001–50,000 50,001–100,000 100,001–500,000 More than 500,000
0.02 0.08 0.18 0.07 0.36 99.30
266 420 935
Major shareholders As at 10 May 2024, J.P. Morgan, as custodian of our ADR programme, held approximately 14% of our ordinary shares of 20 20/21 US cents each as nominee. At this date, the total number of ADRs outstanding was 373,682,919. As at 10 May 2024, 1,136 holders of ordinary shares had registered addresses in the United States and held a total of approximately 0.01% of the ordinary shares of the Company. As at 31 March 2024, the following voting rights and percentage interests in the ordinary share capital of the Company, disclosable under the Disclosure Guidance and Transparency Rule (‘DTR’) 5, had been notified to the Directors. Shareholder Voting rights Shareholding 1 Emirates Telecommunications Group Company PJSC (‘e&’) 3,790,743,685 14.006097% 2 BlackRock, Inc. 1,690,543,089 6.23% Liberty Global plc 1,335,000,000 4.92% Norges Bank 803,179,853 3.0004% Notes: 1. The percentage of voting rights detailed above was calculated at the time of the relevant disclosures made in accordance with DTR 5. 2. On 24 April 2023, e& and two of its affiliates reported a total shareholding in Vodafone of 14.61% as of 12 April 2023 in a Schedule 13D filing with the SEC’. The Company is not aware of any other changes in the interests disclosed under DTR 5 between 31 March 2024 and 13 May 2024. As far as the Company is aware, between 1 April 2021 and 13 May 2024, no shareholder held 3% or more of the voting rights attributable to the ordinary shares of the Company other than (i) J.P. Morgan, as custodian of our ADR program and (ii) e&, BlackRock, Inc., Liberty Global plc and Norges Bank (as described above). The rights attaching to the ordinary shares of the Company held by these shareholders are identical in all respects to the rights attaching to all the ordinary shares of the Company. As at 13 May 2024, the Directors are not aware of any other interest of 3% or more in the ordinary share capital of the Company. The Company is not directly or indirectly owned or controlled by any foreign government or any other legal entity. There are no arrangements known to the Company that could result in a change of control of the Company. Other information Articles of Association and applicable English law The following description summarises certain provisions of the Company’s Articles of Association and applicable English law. This summary is qualified in its entirety by reference to the Companies Act 2006 and the Company’s Articles of Association. The Company is a public limited company under the laws of England and Wales. The Company is registered in England and Wales under the name Vodafone Group Public Limited Company with the registration number 1833679.
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