PetroKazakhstan Inc. - Share Repurchases through the Facilities of the NYSE
25 Abril 2005 - 9:00AM
PR Newswire (US)
PetroKazakhstan Inc. - Share Repurchases through the Facilities of
the NYSE CALGARY, April 25 /PRNewswire-FirstCall/ --
PetroKazakhstan Inc. announced today that it intends to make
repurchases of its Class A common shares ("Common Shares") from
time to time through the facilities of the New York Stock Exchange
(the "NYSE"). PetroKazakhstan currently has a normal course issuer
bid in place under the rules of the Toronto Stock Exchange (the
"TSX") and the NYSE repurchases are intended to provide it with
greater flexibility in conducting its open market repurchase
program. Under applicable Canadian securities laws, PetroKazakhstan
will be permitted to make open market purchases of up to 3,729,792
Common Shares through the facilities of the NYSE, representing 5%
of the total number of outstanding Common Shares, within a 12 month
period. Common Shares purchased by PetroKazakhstan through the NYSE
will also be counted toward the purchase limitation applicable
PetroKazakhstan's TSX normal course issuer bid. PetroKazakhstan
currently has 74,595,837 Common Shares outstanding. Under its TSX
normal course issuer bid and taking into account its previous
repurchases, PetroKazakhstan may repurchase up to 3,963,629 Common
Shares prior to August 12, 2005. Purchases made through the NYSE
will be made in compliance with applicable United States securities
laws and this announcement is intended to provide notice of a
repurchase program in the United States consistent with market
practice. PetroKazakhstan Inc. is a vertically integrated,
international energy company, celebrating its eighth year of
operations in the Republic of Kazakhstan. It is engaged in the
acquisition, exploration, development and production of oil and
gas, refining of oil and the sale of oil and refined products.
PetroKazakhstan shares trade in the United States on the NYSE, in
Canada on the TSX, in the United Kingdom on the London Stock
Exchange and in Germany on the Frankfurt Exchange under the symbol
PKZ. As of December 27, 2004, PetroKazakhstan shares began trading
on the Kazakhstan exchange under the symbol CA_PKZ.
PetroKazakhstan's website can be accessed at
http://www.petrokazakhstan.com/. Neither The Toronto Stock Exchange
or any other stock exchange or regulator has approved or
disapproved the information contained herein. DATASOURCE:
PetroKazakhstan Inc. CONTACT: please contact: Ihor P. Wasylkiw,
Vice President, Investor Relations, +1 (403) 221-8658, +1 (403)
383-2234 (cell); Jeffrey D. Auld, Vice President, Treasurer, +44
(1753) 410-020, +44 79-00-891-538 (cell)
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