Novoship OJSC (Krasnodar region) has completed repurchase of its preference stock, the Company’s press center reports.
According to the report the repurchase of the shares with the nominal value of RUR 1 each was completed on March 23, 2009. The company repurchased 48,719,98 shares for RUR 1,055,274,767.
The shares were purchased at RUB 21.66 per preference share which is the weighted average price of Novoship shares traded on the Russian Trading System (RTS) over the past six months and is 20 per cent higher than the closing market price of Novoship’s preference shares at the date of the last trade.
The decision on the repurchase of 50,112,050 preference shares (approximately 10 per cent of the Company’s total issued share capital) in the amount of RUB 1.1 billion (over USD 38.8 million) was approved by the Board of Directors of Novoship on December 10, 2008.
The fleet of Novoship numbers 55 vessels with total deadweight of 3.7 million tonnes and average age below 9 years. The Company's newbuildings portfolio includes 14 vessels with total deadweight of 1.4 million tonnes due before the end of 2010.
According to the report the repurchase of the shares with the nominal value of RUR 1 each was completed on March 23, 2009. The company repurchased 48,719,98 shares for RUR 1,055,274,767.
The shares were purchased at RUB 21.66 per preference share which is the weighted average price of Novoship shares traded on the Russian Trading System (RTS) over the past six months and is 20 per cent higher than the closing market price of Novoship’s preference shares at the date of the last trade.
The decision on the repurchase of 50,112,050 preference shares (approximately 10 per cent of the Company’s total issued share capital) in the amount of RUB 1.1 billion (over USD 38.8 million) was approved by the Board of Directors of Novoship on December 10, 2008.
The fleet of Novoship numbers 55 vessels with total deadweight of 3.7 million tonnes and average age below 9 years. The Company's newbuildings portfolio includes 14 vessels with total deadweight of 1.4 million tonnes due before the end of 2010.