18th Sep 2018 08:52
September 18, 2018 PRESS RELEASE
TMK PLANS TO ENGAGE VTB CAPITAL BROKER FOR THE SHARE BUYBACK PROGRAM
PAO TMK (TMK or TMK Group), one of the world's leading producers of tubular products for the oil and gas industry, announces that following the approval of the open market share buyback program (the "Buyback Program") by TMK's Board of Directors, for these purposes TMK will engage VTB Capital Broker.
The share purchases under the Buyback Program will be made on regulated stock exchanges and OTC in accordance with applicable laws and regulations.
ТМК (www.tmk-group.com) is a leading global manufacturer and supplier of steel pipes for oil and gas industry, operating 27 production sites in the United States, Russia, Canada, Romania, Oman and Kazakhstan with two R&D centers in Russia and the USA. In 2017, TMK's pipe shipments totaled 3.8 million tonnes. The largest share of TMK's sales belongs to high margin oil country tubular goods (OCTG), shipped to customers in over 80 countries. TMK delivers its products along with an extensive package of services in heat treating, protective coating, premium connections threading, warehousing and pipe repairing. TMK's securities are listed on the London Stock Exchange and on the Moscow Exchange MICEX-RTS.
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TMK IR Department: Irina Yarotskaya Tel: +7 (495) 775-7600
TMK PR Department: Fedor Klimkin Tel: +7 (495) 775-7600
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Related Shares:
TMKS.L