Bank Saint Petersburg Commences Share Buyback Offers Collection
Bank Saint Petersburg announces the acceptance of shareholders’ offers pursuant to the Bank’s Supervisory Board decision to buy back 12 million ordinary shares with the acquisition price of RUB 55 per share. Shareholders' offers may be submitted within one month – till October 7, 2018.
The shareholders entered in the Shareholder Register may submit their applications to the Bank’s Registrar – AO “Nezavisimaya Registratorskaya Kompaniya”. The shareholders not entered in the Shareholder Register may give the respective instructions to the nominee holder – the entity entitled to register the rights to shares held by the shareholder.
The decision to undertake this share buyback is the first step in the implementation of measures aimed at increasing market value of the Bank’s shares. The whole action plan for the Bank’s market capitalization growth will be considered by the Supervisory Board in October 2018.