OMV Petrom makes Ç47,000 in share buy-back

OMV Petrom (BSE:SNP) bought back 714,000 equity shares of the company on Friday under the share buy-back program , for which it picked up 195,421 lei (€47,000), according to a filing to Bucharest Stock Exchange.
The transaction was carried at an average price of 0.2737lei/share, 2% below the Friday’s closing quote of 0.2790lei.

Under the six-month long buy-back program, the company aims at buying back 0.02% of its share capital from the stock market.

Under the provisions of the protocol signed by Petrom and the Federation of Free and Independent Trade Unions in Romanian Oil Industry (FSLI Petrom) the shares to be bought back will be distributed to the former or current employees of the company having held or holding this capacity starting 14.12.2004 until the termination of the program.

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