LONDON: Globaltrans Investment PLC announced that it is launching a buyback programme having received approval from its shareholders at the Extraordinary General Meeting.

The buyback programme is for the Company’s Global Depositary Receipts (GDRs) listed on the Main Market of the London Stock Exchange and will run for a period of twelve months from the date of the EGM.

The maximum number of GDRs that may be repurchased under the Programme will not exceed 5% of the Company’s share capital (equivalent to 8,937,046 shares).

The Company has entered into an agreement with Merrill Lynch International to conduct the Programme on its behalf and if required to make trading decisions concerning purchases under the Programme independently of the Company.

Purchases will be carried out in compliance with the relevant conditions for trading, as well as restrictions regarding pricing, timing and volume, and may take place in multiple instalments over the course of the Programme.

In line with relevant legislation, GDRs repurchased by the Company may be held in treasury for up to two years.

Globaltrans (together with its consolidated subsidiaries “Globaltrans” or the “Group”) is a leading freight rail transportation group with operations across Russia, the CIS and the Baltic countries. The Group operates one of the largest railcar fleets in the region, comprised mainly of universal gondola cars capable of carrying a wide range of bulk cargoes, and tank cars for oil products and oil. The Group’s sophisticated logistics capabilities add value to more than 500 customers including leading industrial groups serviced under extensive outsourcing contracts.

The Group had a Total Fleet of 70.7 thousand units at the end of 2019 of which about 96% were in ownership with an average age of 11.5 years. In 2019, the Group’s Freight Rail Turnover (including Engaged Fleet) was 161.5 billion tonnes-km with the total revenue amounting to RUB 95.0 billion.

Globaltrans is an entrepreneur founded and led group with its Global Depositary Receipts listed on the Main Market of the London Stock Exchange since May 2008.