Moscow, 30 August 2012 — OJSC Pharmstandard (LSE: PHST LI, MICEX-RTS: PHST RU) has approved a possible purchase of additional ordinary shares of OJSC Pharmstandard by its subsidiary OJSC Pharmstandard-Leksredstva.
OJSC Pharmstandard as a sole (100%) shareholder of its subsidiary OJSC Pharmstandard-Leksredstva, has approved an increase of the amount from RUR 1.1. billion up to RUR 2.0. billion within the announcement made by 09,June 2012 of a possible purchase of ordinary shares of OJSC Pharmstandard by the subsidiary at market price.
OJSC Pharmstandard has also indicated in the approval that OJSC Pharmstandard-Leksredstva has no intention to purchase the shares in the form of Global Depositary Receipts, which circulate at the London Stock Exchange, LSE.
The purchase of ordinary shares reflects the confidence of the management in the fundamental value of OJSC Pharmstandard’s ordinary shares. In future, the purchased shares may be used by the group of companies Pharmstandard in merger and acquisition deals in line with the general development strategy of the group of companies Pharmstandard.
The following table provides information about Pharmstandard shares ownership (30.08.2012).
Augment Investments Limited (Ordinary shares and GDR) — 54.32%
Free float — 45.85%:
LSE (GDR) — 27.56%;
RTS-MICEX (Ordinary shares) — 11.27%;
Shares hold by OJSC Pharmstandard-Leksredstva — 6.85%*
Total shares: 37 792 603 (100%)
1 Ordinary share = 4 GDR
*Free float treated as treasury shares for IFRS purposes
(Shares hold by OJSC Pharmstandard-Leksredstva) — 6.85%