12.08.2016, 09:18
NOVATEK’s Board оf Directors Approve Report on Buyback Requests
OREANDA-NEWS. The Board of Directors of OAO NOVATEK approved today the Report on shareholders requests for buyback by the Company of their holdings of NOVATEK shares (the “Report”). According to the Report, the Company has no obligations to buy back shares.
On 20 June 2016 the Company’s EGM approved a number of transactions and agreements related to external financing of the Yamal LNG project. As stipulated by Article 75 of the Russian Federal Law on Joint Stock Companies, NOVATEK shareholders who voted against approval of the transactions and agreements or did not take part in the voting on this agenda item, had the right to request full or partial buyback by the Company of their holdings of NOVATEK shares. Buyback requests could be filed within 45 days from the transaction approval by the EGM, up to 4 August 2016.
On 20 June 2016 the Company’s EGM approved a number of transactions and agreements related to external financing of the Yamal LNG project. As stipulated by Article 75 of the Russian Federal Law on Joint Stock Companies, NOVATEK shareholders who voted against approval of the transactions and agreements or did not take part in the voting on this agenda item, had the right to request full or partial buyback by the Company of their holdings of NOVATEK shares. Buyback requests could be filed within 45 days from the transaction approval by the EGM, up to 4 August 2016.
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