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Nordgold approved the company's right to buy back up to 5% of shares
The shareholders meeting of the gold mining company Nordgold approved the right to initiate the buyback procedure for up to 5% of shares. At the same time, the buyback program has not yet been developed, and the buyback itself is not yet planned, Vedomosti writes with reference to a company representative.
In the event that a reverse buy-out does take place, the representative of the company explains, the company purchased on the stock market will pay back in accordance with the Dutch legislation. In this case, the share of Alexei Mordashov, who currently owns 88,2% of the shares, will increase to 92,8%.