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Novy Neft Limited Continues Share Repurchase
Hamilton, Bermuda: 10th December 2004 - The Directors of Novy Neft Limited (the "Company") wish to announce that in accordance with the Directors' resolution that the Company may repurchase up to 20% of its issued share capital should Shares become available in the market to address any possible imbalance between the supply and demand for the Company's Shares and a further resolution passed on 9 December 2004 for the repurchase of up to an additional 20% of the Company's issued share capital, the Company yesterday purchased for cancellation 1,818,801 shares at US$18.44 per Share. a discount to Net Asset Value.
For further information on Novy Neft Limited please contact:
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Stephen Davies Butterfield Securities Limited Tel: (441) 298 4764 Fax: (441) 295 6759 Email: stephendavies@bntb.bm |
Christopher Fitzwilliam-Lay Charlemagne Capital (UK) Limited Tel: (44 207) 518 2100 Fax: (44 207) 518 2199 Email: chris.fitzwilliamlay@charlemagnecapital.com |