rosneft appoints swiss ubs as agent to execute buyback program
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
Arab Today, arab today

Rosneft appoints Swiss UBS as agent to execute buyback program

Arab Today, arab today

Arab Today, arab today Rosneft appoints Swiss UBS as agent to execute buyback program

Rosneft appoints Swiss UBS.
Moscow - TASS

Rosneft has appointed the Swiss UBS as an independent agent to conduct an open market share buyback, Russia’s biggest oil producer said in a statement on Wednesday.

"The program approved by the board is aimed to deliver superior shareholder returns in case of substantial market volatility," the statement said.

The program will be executed in the period between Q3 2018 and Q4 2020, while the buyback amount will not exceed 128.6 bln rubles ($1.8 bln).

In August, Rosneft’s board of directors approved the terms of the company’s first ever open market share buyback program worth up to $2 bln running to December 31, 2020. The independent agent will execute envisioned transactions in the open market on behalf of Rosneft.

"Appointing one of the leading global financial institutions as an agent will ensure high transparency standards of the program and its strict compliance with the terms approved by the board of directors and applicable laws and regulations," Rosneft said.
Terms

The maximum amount of shares and depositary receipts to be repurchased under the program will not exceed 340 mln shares, while the precise amount to be bought back will depend on the share price performance and market conditions for the duration of the program. Shares of Rosneft and depositary receipts repurchased will be held in treasury of Rosneft Group. Upon the completion of the program, the company’s board will make relevant decisions with regards to the repurchased securities, including their potential full or partial cancellation.

It is suggested that the program will be financed through free cash flow and non-core assets sale.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

rosneft appoints swiss ubs as agent to execute buyback program rosneft appoints swiss ubs as agent to execute buyback program

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

rosneft appoints swiss ubs as agent to execute buyback program rosneft appoints swiss ubs as agent to execute buyback program

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles

GMT 15:46 2018 Wednesday ,12 December

Festive Fashion by Dubai-based designer ASMARAÏA

GMT 12:05 2016 Thursday ,18 August

British retail sales rebound sharply post Brexit vote

GMT 00:46 2018 Tuesday ,09 January

Macron calls for Europe-China alliance

GMT 14:08 2015 Wednesday ,11 November

Netflix hit by outage, vexing users

GMT 01:05 2016 Saturday ,20 August

Canada's CPI dips to 1.3% in July

GMT 02:03 2018 Friday ,19 January

Taiwan chip 'godfather' bullish on cryptocurrency

GMT 14:50 2016 Monday ,11 January

UK embassy mourns Zamalek legend Hamada Emam

GMT 12:16 2015 Monday ,16 March

Powerful idyllic nature frames evoked

GMT 03:22 2011 Tuesday ,18 October

The perfect outdoor entertaining area

GMT 18:34 2017 Wednesday ,27 December

Shaath reveals opening date of Metro third line

GMT 01:14 2017 Sunday ,24 December

Oman opens sprawling oryx reserve to ecotourists

GMT 04:28 2017 Saturday ,23 December

Quarter of Rohingya refugee children
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday