Stockholm, Feb. 14, 2018 (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 renewed mandate is valid until December 31, 2018 and stipulates that SDRs can be bought back, subject to compliance with covenants made under the terms and conditions of the corporate bond 2017/2020.
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 February 14, 2018, the Company currently holds 1,105,952 repurchased SDRs and the total number of outstanding SDRs of Vostok New Ventures, exluding repurchased SDRs, is 84,582,357.
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.
This information is information that Vostok New Ventures Ltd is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07.58 CET on February 14, 2018.