Pursuant to Clause 2, Article 72 of the Russian Federal law “On Joint Stock Companies,” Acron’s Board of Directors announced that the Company will purchase its shares, whose total number shall not exceed 1,907,504 shares (4% of authorised capital). The purchase price per share shall be set at RUB 1,020.49, which is the weighted average price for the shares in MICEX transactions over the past 12 months with 10% premium.
The shares shall be purchased from January 11 through April 8, 2011. Shareholders applications to purchase shares shall be accepted from January 11 through February 9, 2011. The purchase of shares (executing share purchase agreements and registering the transfer of share titles to the Company in its shareholder register) shall be effected between March 10 and April 8, 2011.
To take part in the voluntary tender offer, one should be a shareholder at the moment of filing the applications. The shareholder register closing date for notifying shareholders of the voluntary tender offer in accordance with the legislation is set at 24:00 on November 3, 2010.
Detailed information on the voluntary tender offer terms and conditions will be available at on November 26, 2010.