Press Releases and Events
NOVATEK implements share based compensation program
Moscow, 31 December 2013. OAO NOVATEK (“NOVATEK”) announced today that Novatek Equity (Cyprus) Limited, a wholly owned subsidiary, sold 27 thousand GDRs of NOVATEK (each GDR representing 10 ordinary shares) as part of the share based compensation and incentive program. The GDRs were sold on the open market during the period 23 to 30 December 2013 from the existing holdings of GDRs that were allocated to the program.
During this period, no purchases of NOVATEK’s ordinary shares or GDRs have been made pursuant to NOVATEK’s buyback program announced on 7 June 2012.
Detailed description of the share based compensation program is disclosed in the consolidated financial statements of NOVATEK under IFRS at www.novatek.ru/en.
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. Upstream activities of the Company’s subsidiaries and joint ventures 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.