Almaty – Chagala Group (Chagala or the ‘Company’) is pleased to announce that it has successfully completed its share re-purchase program previously announced on 5 December, 2013. A total of 2,968,342 shares (representing 742,086 GDRs) were re-purchased by the Company at an average price per share of $0.285 ($1.14 USD per GDR).
Francisco Parrilla, CEO of the Chagala Group commented that “We are very pleased to have successfully completed this share re-purchase plan, the first in Chagala’s history. Going forward, our remaining shareholders will see more positive financial results on a per share basis and the Company’s investment case to new investors should improve as well.”
Chagala is a service company focused on providing long and short term accommodation solutions to domestic and international oil and gas companies developing Kazakhstan’s largest hydrocarbon discoveries. With the ownership of hotels, guest houses, serviced apartments, remote site facilities, restaurants and offices in its portfolio, Chagala is well positioned to capitalize on the oil and gas investment being made in Kazakhstan.
For more information:
|Francisco Parrilla, Chief Executive|
|Chagala Group Limited||+ 7 (727) 298 0131|