Gazprom Neft closes offer - Minor shareholders who deposited shares to be paid until March 21

Russian company Gazprom Neft closed the offer for the acquisition of 19.12% of shares of the Petroleum Industry of Serbia from minor shareholders today at noon.

The offered price per share of NIS is EUR 4.8, that is, minimum RSD 506.48. According to the data provided by Poste Srbije (the National Postal Company), orders for the sale of shares have been placed by over 100,000 citizens.

All minor shareholders who have already deposited their shares will be paid until March 21.

Until the expiration of the deadline, citizens had been able to place an order for the sale of shares at windows in post offices, and that service was free of charge, or to trade through a broker, which cost them a certain fee.

Minor shareholders who decide to keep the shares of NIS will be able to sell them on the Stock Exchange even after closing of the bid of the Russian company.

About 4.8m citizens of Serbia received five NIS shares each for free. At the time, the nominal value of shares was RSD 500 per share. Former and current employees of NIS obtained a total of 4.1% shares of the company.

Gazprom Neft bought a majority stake in NIS for 400 million euros and an obligation to invest about 550 million euros in modernization of that company prior to 2012. The Russian national company took over the management of NIS in February 2009.

Trading in the shares of NIS on the Belgrade Stock Exchange started on August 30, 2010. Their current price is RSD 490 per share. The highest price was achieved on the first day of trading - RSD 550, while the lowest price amounted to RSD 442.

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