Globaltruck subsidiary acquires 0.8% of planned 5% of group's shares in buyback
MOSCOW. Feb 4 (Interfax) - LLC Globaltruck Logistic, a 100% subsidiary of PJSC Globaltruck Management , has acquired 0.8% of the Globaltruck group's shares as part of a planned 5%-buyback program that is valid until summer 2021, the company said.
Since the start of the buyback program on November 11, 2019, 0.8% of the group's charter capital in 470,830 common shares has been acquired: from November 12-29 - 0.33%, or 194,250; from December 2-31 - 0.34%, or 197,670; from January 1-31 - 0.13%, or 78,910, Globaltruck said in a press release.
"The amount of the acquired shares and the program volume are defined with due consideration of price dynamics, the market price and share liquidity, as well as market conditions during the validity of the program," the company said.
No more than 5% of all of PJSC Globaltruck's shares will be acquired during the buyback, at a price that will not exceed the offering price of 132 rubles per share during IPO. Therefore, the aggregate maximum amount of the share buyback will not exceed 386 million rubles.
PJSC Globaltruck Management announced the buyback program of up to 5% of its shares - from November 11, 2019 to May 31, 2021 - at a price not to exceed the IPO price of 132 rubles/share. It also announced the launch of a management incentive program to exercise stock options.
LLC Globaltruck Logistic is buying the shares with the help of a broker. The shares can be bought on and off the Moscow Exchange as well as in private and derivative transactions.