OAO NOVATEK (“NOVATEK”) announced today that Novatek Equity (Cyprus) Limited, a wholly owned subsidiary, sold 27 thousand GDRs of NOVATEK (each GDR representing 10 ordinary shares) as part of the share based compensation and incentive program. The GDRs were sold on the open market during the period 23 to 30 December 2013 from the existing holdings of GDRs that were allocated to the program.
During this period, no purchases of NOVATEK’s ordinary shares or GDRs have been made pursuant to NOVATEK’s buyback program announced on 7 June 2012.
Detailed description of the share based compensation program is disclosed in the consolidated financial statements of NOVATEK under IFRS at www.novatek.ru/en.
For further information, please visit www.novatek.ru or contact:
OAO NOVATEK is Russia’s largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 90% of Russia’s natural gas production and approximately 17% of the world’s gas production. NOVATEK is an open joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on MICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the ticker symbol “NVTK”.