Recent news
10.08.2010
BoD of NWT approves Report on the Results of Shares Presented by Shareholders for BuybackPress Release
On August 5, 2010 a meeting of the Board of Directors of North-West Telecom was held, at which the Report on the Results of Shares Presented by Shareholders for Buyback was approved.
The total number of shares to be bought back by the Company is equal to 52,419,047 (4.6% of the Company’s charter capital) including 5,437, 821 common shares and 46,981,226 preferred shares. The total amount allocated for the share buyback reached RUR 1,101,324,000, or 3.1% of the value of NWT’s net assets.
Deputy general director for corporate issues Ella Tomilina pointed out that the “insignificant volume of shares presented for buyback points to the high level of trust investors have in the ongoing restructuring process of Svyazinvest holding and the positive assessment of the market outlook for shares of merged operator Rostelecom.
All shares presented for buyback are to be redeemed by the Company in the full amount as shown in shareholders’ applications at the price of RUR 21.01 RUR. Payment of shares to be bought back will be made in cash by September 2, 2010.
The payment agent for the buyback of NWT shares is North-West Financial Company. The address is: 94 Ligovsky pr., Annex # 2, Lit. 1, Saint Petersburg, telephone: (812) 333-25-18.
Information on the buyback of shares by the Company can be found on the corporate site in the section Reorganization.
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