Stockholm, 2016-05-16 08:00 CEST (GLOBE NEWSWIRE) --
Vostok New Ventures Ltd’s (“Vostok New Ventures” or “the Company”) Board of Directors has resolved to mandate the management of Vostok New Ventures to repurchase Swedish Depository Receipts (SDRs) of the Company.
The mandate from the Board of Directors is valid until the AGM 2017 of Vostok New Ventures and stipulates that a maximum of 10 percent of the SDRs that are outstanding at the time of the resolution can be bought back.
Each share of Vostok New Ventures is represented by one SDR.
The SDRs will be purchased, on one or several occasions, on NASDAQ Stockholm at a price within the registered share price interval on each occasion. SDRs will be bought back when the management deems appropriate, observing blackout periods before reports and all other applicable rules.
As of May 16, 2016, there are 73,499,555 SDRs of Vostok New Ventures outstanding.
For further information please contact:
Björn von Sivers, Head of Investor Relations, Tel +46 8 545 015 50
Vostok New Ventures Ltd, formerly Vostok Nafta Investment Ltd, is an investment company with the business concept of using experience, expertise and a widespread network to identify and invest in assets with considerable potential for value appreciation. The company has a special focus on online marketplaces and businesses with strong network effects. The Swedish Depository Receipts (SDRs) of Vostok New Ventures are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV SDB. For more information on Vostok New Ventures, visit www.vostoknewventures.com.
