Integra Group, a leading FSU-based diversified oilfield services provider, announces the completion of a GDR buyback program launched on 28 October 2010 (the “Program”). As part of the program, the Company has purchased a total of 7,260,054 GDR’s for US$ 25 million at an average price of US$3.44/GDR. The amount of GDRs bought back represents 3.9% of currently outstanding underlying ordinary Class A and B shares in issue and will be cancelled in accordance with the terms of the Program approved by the Board of Directors.
The Program was implemented in accordance with industry best practices and in compliance with FSA rules and regulations. All GDR purchases were executed through the London Stock Exchange via an independent broker.