NVTK: OAO Novatek: NOVATEK Extends the Share Buy Back Program
UK Regulatory Announcement
The Management Board of OAO NOVATEK (“NOVATEK” and/or the “Company”) approved
the extension of the share buyback program until 7 June, 2014, keeping the
size of the program and other terms unchanged.
According to NOVATEK’s Chairman of the Management Board, Leonid V. Mikhelson,
“The decision to extend the buyback program reflects our confidence in
successful development of our key projects and significant growth potential of
NOVATEK, which, in our opinion, is not fully reflected in the current market
valuation of the Company”.
On 7 June, 2012 the Company’s Board of Directors approved a one-year buyback
program in respect of ordinary shares of NOVATEK and/or Global Depositary
Receipts representing Shares (each GDR representing 10 Shares) in the
aggregate amount of up to 600 million US dollars. The terms of the program
provide for its extension by a decision of the Management Board.
Novatek Equity (Cyprus) Limited, a wholly owned subsidiary of the Company,
through an independent broker purchases shares and/or GDRs on MICEX-RTS Stock
Exchange and the London Stock Exchange (LSE) respectively, at market prices at
the time of purchase.
As of 27 May, 2013, 5,517,510 ordinary shares (including in a form of Global
Depositary Receipts) have been purchased on the open market as part of the
For further information, please visit www.novatek.ru or contact:
Press Service Investor Relations
+7 (495) 721 2207 +7 (495) 730 6013
OAO NOVATEK is Russia’s largest independent gas producer and the
second-largest natural gas producer in Russia. Founded in 1994, the Company is
engaged in the exploration, production, processing and marketing of natural
gas and liquid hydrocarbons. The Company’s upstream activities are
concentrated in the prolific Yamal-Nenets Autonomous Region, which is the
world’s largest natural gas producing area and accounts for approximately 90%
of Russia’s natural gas production and approximately 17% of the world’s gas
production. NOVATEK is an open joint stock company established under the laws
of the Russian Federation. The Company’s shares are listed in Russia on
MICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the ticker
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