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November 5, 1991

NEW BT SHARE INDUCEMENTS ANNOUNCED

By CBR Staff Writer

The government has announced another incentive with respect to the sale of about 25% of the shares in British Telecommunications Plc whereby those registered with the Share Information Office will be able to choose between an 8% discount on the offer price (on applications of up to 1,000 shares only) and a one-for-10 share bonus (on application of up to 1,500 shares): small investors will be able to apply for a minimum 100 shares in the sale, expected to raise UKP5,000m; the price will be payable in three installments – on application, in July next year, and in March 1993; the 8% reduction incentive will be split equally between the second and third installments; according to the Share Information Office, this represents a saving of UKP30 on every 100 shares allocated, up to a maximum discount of UKP300 for investors allocated 1,000; under the bonus scheme holders get a free share for every 10 allocated.

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