Page 80 - RusRPTFeb22

at USD 200mn, and is not to exceed 1.4% of the company’s share capital. The purchases of securities under the buyback programme are to be executed during a six-month period commencing 31 January 2022. The securities acquired pursuant to the programme will be used for corporate purposes, including Polyus’ management incentive programme, according to the company.
Novatek bought 584,130 shares and GDRs from 17-21 January, the company announced, 24 January. This is up from the previous week, during which the company bought 384,187 shares. The total number of shares bought since the new buyback was approved on 17 December 2021 is 968,317, and Novatek has spent $21.3mn.
Lukoil increased the pace of its buyback last week, purchasing 978,049 shares and GDRs for $82mn from 17-21 January after purchasing 28,100 shares for $2.4mn during the previous week, with the volume-weighted average price at $84.82/GDR. Last week’s purchases amount to 2.7% of the $3bn allocated to the buyback and 0.14% of the company’s share capital. Since it started purchases on 26 November 2021, Lukoil has bought back 2.9mn shares (0.43% of its share capital) for a total of $254mn.
Lukoil purchased 738,989 shares from 24-26 January as part of the seventh week of its buyback. The volume-weighted average price was $80.09/GDR, with total spending for the week at $59.3mn. Since it started purchasing shares on 26 November 2021, Lukoil has acquired 3.7mn shares for $313.3mn, which is 10.4% of the $3bn allocated to the buyback.
80 RUSSIA Country Report February 2022 www.intellinews.com