Yandex Announces Board Authorization of a Share Repurchase Program
November 18 2019 - 1:30AM
Yandex N.V. (NASDAQ and MOEX: YNDX), one of Europe's largest
internet companies and the leading search provider in Russia, today
announces that its Board of Directors has authorized a repurchase
of up to $300 million worth of Class A shares of Yandex N.V. Such
shares may be repurchased from time to time in open market
transactions. The timing and amount of share repurchases will
depend on a variety of factors, including market conditions. Yandex
intends to make all repurchases in compliance with applicable
regulatory guidelines and to administer the program in accordance
with applicable laws, including Rule 10b-18 under the Securities
Exchange Act of 1934. The repurchase program will be in effect for
up to twelve months.
Forward-Looking Statements
Statements in this release that are not historical facts are
forward-looking statements under the provisions of the Private
Securities Litigation Reform Act of 1995. By their nature,
forward-looking statements involve risks and uncertainties because
they relate to events and depend on circumstances that may or may
not occur in the future. These risk and uncertainties include, but
are not limited to, the completion of the Company's share
repurchase program. Forward-looking statements reflect management's
analysis as of the date of this press release. Important factors
that could cause actual results to differ materially from our
expectations are more fully described in our filings with the SEC.
Except as required by applicable law, we do not undertake to
publicly update or revise any of these forward-looking statements,
whether as a result of new information, future events or
otherwise.
About Yandex
Yandex (NASDAQ and MOEX:YNDX) is a technology company that
builds intelligent products and services powered by machine
learning. Our goal is to help consumers and businesses better
navigate the online and offline world. Since 1997, we have
delivered world-class, locally relevant search and information
services. Additionally, we have developed market-leading on-demand
transportation services, navigation products, and other mobile
applications for millions of consumers across the globe. Yandex,
which has 34 offices worldwide, has been listed on the NASDAQ since
2011. More information on Yandex can be found at
https://yandex.com/company.
Contacts:
Investor Relations Katya Zhukova Phone: +7 495 974-35-38 E-mail:
askIR@yandex-team.ru
Media Relations Ilya Grabovskiy Phone: +7 495 739-70-00 E-mail:
pr@yandex-team.ru
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