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 10:55 2016 Friday ,22 April

Suicide bomber kills 6 at Iraq Shiite mosque

GMT 10:26 2015 Wednesday ,02 December

Russian TV host reveals HIV-positive status live on air

GMT 05:41 2017 Wednesday ,15 February

Large UAE banks post solid profitability

GMT 11:05 2017 Wednesday ,18 January

Gambia President Jammeh declares state of emergency

GMT 14:47 2016 Saturday ,31 December

Trump’s praise of Putin could signal a US policy

GMT 05:46 2016 Wednesday ,15 June

Get their dream mobile App

GMT 13:11 2017 Saturday ,07 October

Controversial French rock star slams Brexit Britain

GMT 12:03 2018 Monday ,22 January

Mongolia – Vast wilderness and rugged adventure

GMT 06:25 2018 Thursday ,11 January

Royal commendation for Bahraini sport achievements

GMT 07:37 2018 Wednesday ,10 January

Iran investigates death of young man in custody

GMT 09:28 2018 Saturday ,06 January

Sneijder to join Qatar club Al Gharafa

GMT 18:18 2016 Wednesday ,16 March

Release of Qatari poet ‘long overdue good news’

GMT 05:32 2017 Thursday ,21 December

Saudi King meets Palestinian leader

GMT 08:40 2016 Thursday ,31 March

Paris Art Fair 2016 to kick off on Mar 31

GMT 08:00 2017 Tuesday ,28 March

Nadal wins in 1000th match, Raonic withdraws

GMT 08:01 2016 Thursday ,01 December

Ajman Ruler pardons 47 prisoners ahead of National Day

GMT 02:39 2011 Sunday ,04 December

Ahmed Falawkas joins ‘Bab El-Khalk’
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