Page 88 - RusRPTApr20

NLMK CEO Fedorishin purchased 0.00595% stake in the company. According to the London Stock Exchange’s press release, 35,678 GDRs were purchased for $13.27/GDR for a total sum of $473,447. The transaction took place on 19 March on the London Stock Exchange. Previously, Fedorishin did not own a stake in NLMK.
Etalon to hold EGM on 15 April to approve 10% share buyback. The decision of the buyback must be approved with a simple majority of votes. Sistema will take part in the voting, but according to previous guidance, is unlikely to participate in the buyback Ten days after approval, Etalon may start buyback. The size may reach up to 10% of the company ($40mn at current price), duration may take up to 2 years Market price should not exceed more than 5% the average price for the last 5 trading sessions
Chlodwig Enterprises Ltd purchases 0.19% Phosagro stake on open market. As a result, Andrey Guryev and his family increased their stake to 48.67% from 48.48%. Earlier this month Andrey Guryev acquired 0.048% on the open market, as the share price was attractive in his view.
Russian mobile major and most valuable telecom brand MTS (Mobile TeleSystems) has approved the RUB15bn ($186mn) buyback of its shares, without providing further details. As reported by bne IntelliNews, upon posting solid results in 4Q19, MTS management argued that the shares were currently undervalued and proposed a buyback programme, while seeing the Fx CapEx and debt exposure as hedged. In a separate announcement MTS also said it took out a five-year loan worth RUB45bn from state-controlled VTB Bank, under the same RUB80bn credit line it opened with the bank in February 2020 for refinancing outstanding debt.
The board of directors of Russian oil major Rosneft has approved easing the procedure of the company’s share buyback program, but kept the dates and the amount intact, Rosneft said in a statement on Monday. “The Board of Directors of Rosneft Oil Company decided to change the terms of the open market share buyback program also covering depositary receipts,” the company said, adding that it decided to simplify the procedure and lift some limitations due to the high volatility of the oil markets. “The amendments are aimed at bringing the terms of the program in line with the current market environment and do not affect the key parameters previously approved by the company’s board of directors such as the timeline and volumes of the program,” the company said. Rosneft will publish the buyback data on a weekly basis. The board approved the US $2bn buyback program in 2018, and planned to carry it out until the end of 2020.
The shares of Russian TCS Group, the parent of Russia's only purely online bank Tinkoff, tanked by 8% by mid-day March 6 on Moscow Exchange, after the US government announced in it was bring tax evasion charges again the bank’s founder Olg Tinkov. As reported by bne IntelliNews, court hearings for Tinkov, a serial entrepreneur and the main shareholder of the TCS Group, will take place in London in February-April 2020 after the billionaire posted GBP20mn as bail. The US is seeking his extradition to face charges tax evasion charges. It has now been revealed that Tinkov is accused of concealing $1bn worth of assets, according to the verdict of the US district court. The sale of 11mn TCS shares at the IPO in October 2013 gained more than $199mn in gross proceeds, while Tinkov allegedly reported his income that year at only $205,317. The indictment also states that Tinkov owned more than 50% of TCS after the IPO, with a fair market value of more than $1bn,
88 RUSSIA Country Report April 2020 www.intellinews.com