Integra Group (LSE: INTE), announces that 405,502 class A ordinary shares (8,110,040 in GDR equivalent) have been cancelled in accordance with the decision of the Board of Directors and terms of the buyback program. The amount of shares cancelled combines 363,002 class A ordinary shares (7,260,040 in GDR equivalent) purchased in a GDR buyback program between 28 October 2010 – 11 May 2011 and 42,500 class A ordinary shares (850,000 in GDR equivalent) received as part of the consideration for the sale of Stromneftemash. In total, cancelled shares represented 4.4% of previously outstanding ordinary Class A and B shares in issue.
The Company’s issued share capital following the cancellation comprises 8,204,922 ordinary class A shares and 740,000 ordinary class B shares.
The cancellation of shares involved an unwinding of GDR’s into ordinary shares therefore increasing the headroom in the Company’s GDR block listing on the London Stock Exchange (LSE) to 54,077,340 GDR’s which can additionally be created and listed on LSE.