17th Sep 2008 16:02
OJSC Polyus Gold's management intends to recommend to the Board of Directors that it consider the possibility of a buyback of the Company's shares from the open market, said the company's CEO Evgueni Ivanov in an interview today with Interfax. Mr. Ivanov said that the buyback is considered by the management as a measure to support the Company's share price and liquidity. Furthermore, given that Polyus Gold is on course to meet its production targets and development plans and that the Company's strategy is one of the most ambitious in the sector, management believes the company's shares today represent a unique investment opportunity.
There can be no assurance that the Board of Directors will approve any such buyback or, if approved, what the timing, price and other terms will be.
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