OREANDA-NEWS. June 08, 2010. MHP (LSE: MHPC) (“MHP” or the “Company”) announces that the Board of Directors (the “Board”) at its meeting has approved the Amendment to the Buy Back Share Program (the “Program”). In order to improve flexibility to manage the Company’s financial operations the Board decided to increase the maximum number of GDRs that can be purchased by the Company under the Share Buy Back Program to purchase up to 5,538,500 (such number representing not more than 5% of the issued share capital of the Company and therefore being below the 10% of the issued share capital allowed under Luxembourg law for the purpose of Share Buy Back) of its fully paid up ordinary shares in the form of GDRs listed on the London Stock Exchange. 

The Share Buy Back Program will be implemented within one year of the approval of the amended program by this Meeting of the Board. The purchase of each GDR will be made at the market price provided that it is not less than USD 1 (minimum threshold) and not more that USD 18 (maximum threshold) per GDR.

Some of the purchased under the Buy Back Share Program shares will be used for a compensation and incentive program. Non-used shares of the Company will be held in treasury until their resale within the next three years. 

The Extraordinary General Meeting of Shareholders to consider approval of the Amendment to the Program is scheduled for 27 May 2010.