September 17, 2019 / 6:59 AM / a month ago

BRIEF-Russia's Sistema launches share buyback programme

Sept 17 (Reuters) - Russian business conglomerate AFK Sistema PAO says:

* Plans to buy back up to 3 billion roubles ($46.83 million)worth of own shares;

* The maximum number of shares to be repurchased under the programme will not exceed 300 million;

* The programme will run until Feb. 29, 2020, or until the total number of shares or total value of shares repurchased under the programme reach their stipulated maximum, whichever occurs first;

* Upon repurchase, the shares will be used by Sistema for general corporate needs, including management incentive plans;

* Sistema does not plan to raise debt to fund the buyback programme, a spokesman for Sistema said. Source text for Eikon: Further company coverage: ($1 = 64.0570 roubles) (Moscow bureau)

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