2 Apr 2019 07:00
LENTA ANNOUNCES TERMINATION OF BUYBACK PROGRAM
St. Petersburg, Russia; 2 April 2019 - Lenta Ltd ("Lenta" or the "Company"), one of the largest retail chains in Russia, today announces the termination of its buyback program for the repurchase of up to RUB 11.6 billion of its Global Depository Receipts ("GDRs"), which was announced on 29 October 2018.
Since the initiation of the GDR buyback program, an aggregate of approximately RUB 980.8 million has been returned to GDR-holders, through the purchase of 4,552,610 GDRs at an average price of US$ 3.28 on the London Stock Exchange. These GDRs represent 0.93% of all the Company's GDRs quoted on the London Stock Exchange prior to the GDR buyback program.
About Lenta
Lenta is the largest hypermarket chain in Russia and the country's third largest retail chain. The Company was founded in 1993 in St. Petersburg. Lenta operates 245 hypermarkets in 88 cities across Russia and 135 supermarkets in Moscow, St. Petersburg, and the Siberia, Urals and Central regions, with a total of approximately 1,472,714 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 5,500 sq.m. The average Lenta supermarket store has selling space of approximately 800 sq.m. The Company operates eight owned distribution centers.
The Company's price-led hypermarket formats are differentiated in terms of their promotion and pricing strategies as well as their local product assortment. The Company employed approximately 45,759 people as of 31 December 2018.
The Company's management team combines a mix of local knowledge and international expertise coupled with extensive operational experience in Russia. Lenta's largest shareholders include TPG Capital and the European Bank for Reconstruction and Development, both of which are committed to maintaining high standards of corporate governance. Lenta is listed on the London Stock Exchange and on the Moscow Exchange and trades under the ticker: 'LNTA'.
A brief video summary on Lenta's business and its Big Data initiative can be seen here.
For further information please visit www.lentainvestor.com, or contact:
Lenta Mariya Filippova PR and GR manager Tel: +7 812 380-61-31 ext.: 1892 E-mail: maria.filippova@lenta.com |
Russian Media: NW Advisors Anton Karpov & Victoria Afonina Тel:+7 495 795 06 23 E-mail: lenta@nwadvisors.com |