Integra Group Approved GDR Buyback Program of up to USD 25 Million
OREANDA-NEWS. November 10, 2010. Integra Group (LSE: INTE), a leading FSU-based onshore oilfield services provider, announces that the Company’s Board of Directors has approved a GDR buyback program (the “Program”) which will start on 28 October 2010 and pursuant to which the Company will repurchase its GDRs in an aggregate amount of up to USD 25,000,000. The Company plans to cancel each underlying share for each GDR purchased in the Program.
The Program will be implemented in accordance with industry best practices and in compliance with FSA rules and regulations. To this end, the Company has engaged an independent broker for the Program and all purchases will be executed through the London Stock Exchange. The repurchase criteria and duration of the Program will be established in accordance with the terms of a mandate between the Company and the broker.
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