DGAP-News: JSC Open Investments: JSC OPIN announces the buyback of its shares

EquityStory.RS, LLC-News: JSC Open Investments / Key word(s): Share
Buyback/Share Buyback
JSC Open Investments: JSC OPIN announces the buyback of its shares

09.09.2011 / 07:30

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THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY
OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA

JSC OPIN

ANNOUNCES DECISION ON PARTIAL SHARES BUYBACK, DECREASE IN AUTHORISED
CAPITAL STOCK AND CHANGES TO COMPANY–S CHARTER TO ENABLE SIGNIFICANT
ADDITIONAL SHARE PLACEMENTS

On 8 September 2011 at OPIN–s General Shareholders– Meeting it was decided
to decrease the authorised capital stock of the Company by 60,000
registered ordinary shares via a buyback of such shares from the market at
a price of 995 rubles and 65 copecks per share based on the average
weighted share price according to the data from MICEX for the period of
04.07.2011 – 04.08.2011.

Payments for shares should be carried out in cash within 5 (Five) days
after the shares are registered at the Company–s account. Shareholders
willing to sell their shares to the Company must submit their applications
within the period from 13 October 2011 to 11 November 2011. Re-registration
of the shares (the execution of share purchase agreement and submission
documents indispensable to transfer of property on the shares to
Registrar/Depositary) will take place within the period from 14 November
2011 to 28 November 2011.

The number of shares that the Company will acquire from each shareholder
submitting an Application will be determined in accordance with the Federal
Law On Joint Stock Companies (art. 72, par. 4). If the total number of
shares submitted to the Company for sale exceeds 60,000 (Sixty thousand) –
the Shares will be purchased on a pro rata basis.

Forms of application and Sales and Purchase Agreement will be available on
OPIN–s corporate website at www.opin.ru in section –information for
shareholders–.

In addition, it was decided to amend the Charter of the Company to allow
additional share placement of up to 10 (Ten) million of registered ordinary
shares at nominal value of 1,000 (One thousand) rubles.

Commenting on today–s announcement, Artemiy Krylov, CEO of OPIN, said:

–OPIN is one of the oldest development groups in Russia with proved
leadership in construction of high quality master-planned multi-format real
estate. In May 2011 the new management team presented to shareholders and
publically announced a new strategy aimed at fold increase of the Company–s
net assets and operational results within the next five years and a plan to
become a platform for consolidation of assets in the real estate industry
in Russia.

The first evidence of our strategy effectiveness was the Company–s
announced financial results for the six months ended 30 June 2011. During
the first six months of 2011 we increased revenue by 80% to $US115 million
when compared to the same period of 2010. We managed to optimise our costs
achieving a gross margin at the level of 27% (growth from 18% in during six
months 2010) and for the first time in two and a half years turned to
positive levels of EBITDA at US$45 million and net profit at $US21 million.

Despite these positive news, observing our share price, we concluded that
our strategy needs to be proven by time and taking into account recent fall
in share price, which was also the result of volatilityon global markets,
at General Shareholders– Meeting it was decided to buy back a small share
block in order to support the longer-term value of the Company.
In addition, a further increase in the amount of declared shares will
enable us to attract additional financial resources necessary to fund the
Company–s future growth in line with proposed strategy–

-end-

For further information, please contact:

Investors:
Stanislav Joukov +7 495 363 2211 ext. 2388

Media:
Anna Rogova +7 495 363 2211 ext. 2513

About OPIN

Established in 2002, JSC OPIN is one of the leading real estate development
companies operating in Moscow and Moscow Region. OPIN is focused on the
development of master-planned multi-format residential communities and
high-quality commercial properties in Moscow and Moscow Region. Having
completed nearly 200,000 sq. m of commercial space and 500 ha of developed
master-planned communities, OPIN today is a well-recognised brand in the
domestic market, known for the market-leading quality of the projects it
delivers. Through its property expertise and successful track record, the
Company–s strategic goal is to become a platform for consolidation of
assets in the real estate industry in Russia.

As of 30 June 2011 OPIN–s total assets were US$1.88 billion, predominantly
comprising of residential and land bank properties as well commercial real
estate. In 2010 the Company recorded total revenue of US$151 million and
during six months of 2011 – US$115 million.

The Company–s majority shareholder is ONEXIM Holdings Ltd, a major private
investment group in CIS with a diversified portfolio of assets in mining,
real estate, financial services, media, energy production and high tech.

In November 2004 OPIN was successfully admitted to the RTS stock exchange
and since then has carried out six secondary public offerings, raising
nearly US$2 billion.

Further details can be found on the OPIN website at www.opin.ru.

End of Corporate News

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09.09.2011 Dissemination of a Corporate News, transmitted by
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Language: English
Company: JSC Open Investments
Tverskoy blvr, 13/1
123104 Moscow
Russia
Phone: + 7 495 363 22 11
E-mail: info@opin.ru
Internet: www.opin.ru
ISIN: RU000A0DJ9B4

End of News EquityStory.RS, LLC News-Service
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138695 09.09.2011

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