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Bashneft

June 21, 2013

Bashneft sells a block of treasury shares

JSOC Bashneft sold 832,082 ordinary and 4,730,528 preferred shares bought back as part of the reorganization conducted in 2012 and accounting for 2.45% of Bashneft’s authorized share capital to United Platform S.A. (Luxembourg), a financial investor

The transaction value based on the market value of Bashneft’s shares totalled US$ 257 million.

The transaction was given the necessary corporate approval; it is aimed at optimizing the Company’s financial investments.

Under the approved terms of the transaction, the buyer shall grant Bashneft the right to buy back the mentioned block of shares within six months after making the transaction under the terms agreed upon by the parties.

 

 

 

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