JSC Open Investments
JSC Open Investments: JSC OPIN announces results of submitted applications for earlier announced shares buyback
JSC Open Investments / Key word(s): Share Buyback/Share Buyback THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA JSC OPIN ANNOUNCES RESULTS OF SUBMITTED APPLICATIONS FOR EARLIER ANNOUNCED SHARES BUYBACK Joint Stock Company ‘Open Investments’ (JSC ‘OPIN’ or the ‘Company’) (BLOOMBERG: RTS – OPIN.RU; MICEX – OPIN.RM), one of the leading real estate developers in Russia, today announces the results of submitted applications by shareholders in response to decision announced on General Shareholders’ Meeting on 8 September 2011 of partial shares buyback. On 8 September 2011 JSC OPIN announced the decision to decrease the authorised capital stock of the Company by 60,000 registered ordinary shares (0.39% of total float) via a buyback of such shares from the market at a price of 955 rubles and 65 copecks per share. Applications to sell shares could be submitted through branches of the Company’s Registrar CJSC ‘Computershare Registrar’ within the period from 13 October 2011 till 11 November 2011. Forty eight applications were submitted for the total amount of 483,678 (four hundred eighty three thousand six hundred seventy eight) shares. Since the total number of shares submitted to the Company for sale exceeded 60,000 shares, they would be purchased on a pro rata basis with rounding down where necessary (not in accordance to math rounding rules in order to avoid the purchase of fractional shares). Effectively, the coefficient at which the submitted for buyback shares will be purchased is equal to 0.1240494709 (60,000 divided by 483,678). At the same time the number of shares to be purchased from a shareholder shall not be less than one share. In order to complete the sale of shares, shareholders or their authorised representatives who submitted applications should personally visit the branch of CJSC ‘Computershare Registrar’ through which they filed such an application before 28 November 2011 in order to sign a Share Purchase Agreement. Shares will be paid in cash in rubles within the timeline set in the Share Purchase Agreement, which is equal to 5 (five) days from the date of record to transfer shares on OPIN’s account in the shareholders register. Expenses for reregistration of shares will be incurred by JSC ‘OPIN’. – ends – For further information, please contact: Investors: Media: About OPIN Established in 2002, JSC OPIN is one of the leading real estate development companies operating in Russia. OPIN is focused on the development of master-planned multi-format residential communities and the operation of high-quality commercial properties in Moscow and the Moscow Region. Having completed nearly 200,000 sq. m of commercial space and 500 ha of developed master-planned communities, today OPIN is a well-recognised brand in the domestic market, known for the market-leading quality of the projects it delivers. Through its property expertise and successful track record, the Company’s strategic goal is to become a platform for the consolidation of assets in the real estate industry in Russia. As of 30 June 2011, OPIN’s total assets were US$1.86 billion comprising predominantly of residential developments, land bank and commercial real estate. In 2010 OPIN recorded total revenue of US$151 million and during first six months of 2011 – US$115 million. The Company’s majority shareholder is ONEXIM Group, a major private investment group in the CIS region with a diversified portfolio of assets in mining, real estate, financial services, media, energy production and high-tech. In November 2004 OPIN was successfully admitted to the RTS stock exchange and since then has carried out six secondary public offerings, raising nearly US$2 billion. Further details can be found on the OPIN website at www.opin.ru End of Corporate News 14.11.2011 Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. EquityStory.RS, LLC’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | JSC Open Investments | |
Tverskoy blvr, 13/1 | ||
123104 Moscow | ||
Russia | ||
Phone: | + 7 495 363 22 11 | |
E-mail: | info@opin.ru | |
Internet: | www.opin.ru | |
ISIN: | RU000A0DJ9B4 | |
End of News | EquityStory.RS, LLC News-Service |
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