X5 chief Gusev purchases $600,000 in company GDRs
MOSCOW. Feb 8 (Interfax) - The main executive director at X5 Retail Group, Andrei Gusev, has acquired 26,000 of the company's GDRs at $22.97 per receipt, X5 said in a statement.
Therefore, the value of Gusev's packet came to 597,200.
He earlier did not own X5 shares but now holds 0.01% on the company's charter capital.
Gusev acquired the receipts on February 7.
It was earlier reported that X5's CFO, Kieran Balfe, acquired $5.8 million worth in the company's receipts in December 2011 and January 2012. For instance, he purchased 8,725 GDRs at $21.7 each and 188,125 GDRs at $22.4 on December 21-22, as well as 65,400 receipts at $21.33 on January 23.
The value of X5's GDRs on the London Stock Exchange at the close of trading on Tuesday came to $22.95. As of August 1, 2011, the company's GDRs stood at $42. Therefore, the quotations for the receipts have collapsed 44% since then.
X5 has no plans to hold a buyback and artificially support its stock quotations, Gusev earlier told Interfax. He also said that Balfe's purchase of the X5 receipts was a personal decision. "If I do this [purchase GDRs], I will definitely make an announcement," the head of X5 said.
X5 Retail Group N.V. is Russia's leading retailer in terms of total sales. The company manages stores under the Pyaterochka, Perekrestok, Karusel brands, as well as neighborhood stores under various brands. As of the end of 2011, X5 had 3,002 stores under its management. The chain includes 2,525 light discounters, 330 supermarkets, 77 hypermarkets, and 70 neighborhood stores.
The shareholders in X5 are Alfa-Group with 47.9%, the founders of the Pyaterochka chain - 19.9%, and X5's management - 0.02%. The treasury GDRs amount to 0.1% and the free float is 32.16%.
