Yandex Board Approves 50 Billion Ruble Share Buyback
Yandex announced a share buyback program worth up to 50 billion rubles to motivate employees. The program is expected to operate over a two-year period. Following the announcement, Yandex stock prices rose by approximately one percent on the Moscow Exchange. The procedure is expected to span a period of two years. Yandex announced in late April that the buyback is intended to implement an employee motivation program. Employees will not receive voting rights or dividends until the shares are transferred to them. The buyback will be executed by Yantech LLC.
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Sources · 7 independent
Business FM Russia
“Яндекс выкупит акции компании на сумму до 50 миллиардов рублей для мотивации сотрудников, заявлено, что программа buyback будет действовать в течение двух лет.”
CNR Economic Voice
“Yandex To Execute 50 Billion Ruble Buyback”
Kommersant FM
“Совет директоров Яндекса одобрил обратный выкуп акций до 50 миллиардов рублей. Процедура рассчитана на срок два года.”
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