NOVATEK buys back another 0.01% of its shares in form of GDR

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NOVATEK buys back another 0.01% of its shares in form of GDR

MOSCOW. Dec 3 (Interfax) - Novatek Equity bought another 440,000 shares in the form of GDR (global depositary receipts), or 0.01% of its charter capital, on December 3, the company said in a statement.

As a result, the stake located on Novatek Equity (Cyprus) Limited's balance sheet (the buyback is being performed through that company) grew to 2.894 million shares, including in the form of GDR.

In June, NOVATEK's board of directors confirmed a shares and GDR buyback program worth $600 million. NOVATEK announced the start of the program on November 16. The company can buy back its own shares until June 7, 2013.