Lukoil shares jump to all-time high as board cancel treasury stock - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Lukoil shares jump to all-time high as board cancel treasury stock

MOSCOW, Jan 12 (PRIME) -- The board of directors of independent Russian oil company Lukoil decided to cancel the bulk of treasury shares and approved a buyback program for the rest of them, the company said on Friday, pushing shares to an all-time high.

УWhile considering the strategy, the board of directors supported management initiatives to cancel the major part of treasury shares kept on the books of the group and to use the remaining shares in a new long-term program to stimulate key employees of the company as well as to create an additional mechanism of funds distribution among the shareholders in the form of a share buyback,Ф President Vagit Alekperov was quoted as saying in a statement.

УI believe that the changes will promote further shareholder value of the company.Ф

The shares rose 5% to 3,870 rubles per share as of 1:32 p.m., Moscow time, while the broad MOEX Russia Index rose 0.1%.

(56.9957 rubles Ц U.S. $1)


12.01.2018 13:53
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 74.3332 +0.0369 23 feb
USD 65.5149 -0.0252 23 feb
Stock Market Indices
1D 1W 1M 1Y
rtsi 1198.40 +0.82 18:50 22 feb
micex 2488.63 +0.74 18:50 22 feb
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 154.64 +0.74 18:49 22 feb
lkoh 5527.00 +1.46 18:47 22 feb
rosn 401.50 +1.27 18:48 22 feb
sber 205.25 +0.90 18:49 22 feb
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 74.2900 +0.0325 14:59 22 feb
USDTD 65.4075 -0.0575 17:44 22 feb