1 Oct 2019 09:00
LUKOIL ANNOUNCES START OF BUY-BACK PROGRAMME
PJSC "LUKOIL" (the "Company") announces the start of an open market repurchase of the Company's shares and the corresponding depositary receipts for an aggregate amount of up to USD 3 billion [i] (hereinafter the "Buy-back Programme" or the "Programme").
The duration of the Programme is from October 1, 2019 to December 30, 2022. Purchases pursuant to the Programme will be made by LUKOIL Securities Limited, a wholly owned subsidiary of the Company, on the regulated trading venues in compliance with all applicable laws and regulations. Purchases will be executed by qualified international brokers.
[i] This is equivalent to 36.3 million common shares of the Company or 5.1% of its share capital at a closing price of 82.74 USD per depositary receipt (representing 1 common share) on September 30, 2019 at the London Stock Exchange.