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NOVATEK Extends Share Buyback Program

Moscow, 1 June 2021. The Management Board of PAO NOVATEK (“NOVATEK” and/or the “Company”) approved the extension of the share buyback program until 7 June 2022.   All terms of the program unchanged.
 
Note
 
On 7 June 2012, the Company’s Board of Directors approved a one-year buyback program in respect of ordinary shares of NOVATEK and/or Global Depositary Receipts representing Shares (each GDR representing 10 Shares) in the aggregate amount of up to 600 million US dollars.
 
The terms of the program provide for its extension by a decision of the Management Board. On 4 June 2020, the Company's Management Board approved the extension of the share buyback program until 7 June 2021.
 
Novatek Equity (Cyprus) Limited, a wholly owned subsidiary of the Company, through an independent broker purchases shares and/or GDRs on the Moscow Exchange and the London Stock Exchange (LSE) respectively, at market prices at the time of purchase.
 

As of 1st June 2021, 31,831,723 ordinary shares (including in a form of Global Depositary Receipts) have been purchased on the open market as part of the program implementation.

 

 

PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol “NVTK”.