JSC Open Investments
JSC Open Investments: JSC OPIN announces the buyback of its shares
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 DECISION ON PARTIAL SHARES BUYBACK, DECREASE IN AUTHORISED CAPITAL STOCK AND CHANGES TO COMPANY’S CHARTER TO ENABLE SIGNIFICANT ADDITIONAL SHARE PLACEMENTS On 8 September 2011 at OPIN’s General Shareholders’ Meeting it was decided to decrease the authorised capital stock of the Company by 60,000 registered ordinary shares via a buyback of such shares from the market at a price of 995 rubles and 65 copecks per share based on the average weighted share price according to the data from MICEX for the period of 04.07.2011 – 04.08.2011. Payments for shares should be carried out in cash within 5 (Five) days after the shares are registered at the Company’s account. Shareholders willing to sell their shares to the Company must submit their applications within the period from 13 October 2011 to 11 November 2011. Re-registration of the shares (the execution of share purchase agreement and submission documents indispensable to transfer of property on the shares to Registrar/Depositary) will take place within the period from 14 November 2011 to 28 November 2011. The number of shares that the Company will acquire from each shareholder submitting an Application will be determined in accordance with the Federal Law On Joint Stock Companies (art. 72, par. 4). If the total number of shares submitted to the Company for sale exceeds 60,000 (Sixty thousand) – the Shares will be purchased on a pro rata basis. Forms of application and Sales and Purchase Agreement will be available on OPIN’s corporate website at www.opin.ru in section ‘information for shareholders’. In addition, it was decided to amend the Charter of the Company to allow additional share placement of up to 10 (Ten) million of registered ordinary shares at nominal value of 1,000 (One thousand) rubles. Commenting on today’s announcement, Artemiy Krylov, CEO of OPIN, said: ‘OPIN is one of the oldest development groups in Russia with proved leadership in construction of high quality master-planned multi-format real estate. In May 2011 the new management team presented to shareholders and publically announced a new strategy aimed at fold increase of the Company’s net assets and operational results within the next five years and a plan to become a platform for consolidation of assets in the real estate industry in Russia. -end- 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 Moscow and Moscow Region. OPIN is focused on the development of master-planned multi-format residential communities and high-quality commercial properties in Moscow and Moscow Region. Having completed nearly 200,000 sq. m of commercial space and 500 ha of developed master-planned communities, OPIN today 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 consolidation of assets in the real estate industry in Russia. As of 30 June 2011 OPIN’s total assets were US$1.88 billion, predominantly comprising of residential and land bank properties as well commercial real estate. In 2010 the Company recorded total revenue of US$151 million and during six months of 2011 – US$115 million. The Company’s majority shareholder is ONEXIM Holdings Ltd, a major private investment group in CIS 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 09.09.2011 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 |
138695 09.09.2011 |