Depa Limited (ticker DEPA) (‘Depa’ or ‘the Company’), the world’s largest interior contractor, today confirms that it has completed the first set of transactions of its Share Repurchase programme. Depa purchased a total of 832,819 shares between 22 and 31 December at an average price of USD 0.51.
These transactions follow the Company’s announcement on 26 November 2008 of its intention to undertake a Share Repurchase programme during a period of 12 months from 27 November 2008, as the Company’s shareholders currently believe that the shares are significantly undervalued. This is the first buyback undertaken by the Company since the securities were listed on NASDAQ Dubai on 23 April 2008.
For further inquiries, please contact:
Depa Limited
Noor Sweid
Managing Director, Strategy
Tel: +971 4 224 3800
noor.sweid@depa.com
Brunswick Gulf Ltd
Azadeh Varzi
Tel: + 971 4 365 8260
