Sovcomflot Group announces shares buyback to fund the Company employees’ long-term incentive programme

Sovcomflot Group announces shares buyback to fund the Company employees’ long-term incentive programme

Sovcomflot Group (“SCF Group”, “Company”) announces a share buyback programme commencing on 20 December 2021.

SCF Arctic, SCF Group’s 100% subsidiary, intends to buy PAO Sovcomflot shares from the market for the purposes of funding the Company’s management long-term incentive programme.

The KPI-based long-term incentive programme for Group management utilising the Company’s shares has been approved by PAO Sovcomflot Board of Directors earlier in the year.

The overall buyback amount will not exceed RUB 550 mln.