Shares of Mobil’nye Telesistemy PAO (ADR) (NYSE:MBT) ended Monday at $7.75 with 1.81 million shares getting traded. Post opening the session at $7.79, the shares hit an intraday low of $7.72 and an intraday high of $7.84 and the price vacillated in this range throughout the day. The company has a market cap of $6.90 billion and the numbers of outstanding shares have been calculated to be 1.99 billion shares.
Mobil’nye Telesistemy PAO (ADR) (MBT) on August 18, 2016 announced its unaudited IFRS financial results for the three months ended June 30, 2016.
Key Corporate and Industry Highlights
- Paid out in dividends RUB 28.0 bln or RUB 14.01 per ordinary MTS share (RUB 28.02 per ADR) based on FY2015 results
- The Board of Directors recommended that the Extraordinary General Meeting of shareholders approve semi-annual dividends of RUB 11.99 per ordinary MTS share (RUB 23.98 per ADR), or a total of RUB 24.0 bln, based on H1 2016 financial results
- MTS through its subsidiary, Dega Retail Holding Limited, repurchased USD 267 mln of Loan Participation Notes due in 2020 (issued in 2010 in the amount of USD 750,000,000 at 8.625%) through a tender offer
- Sold 50.01% stake in the telecommunications operator Universal Mobile Systems (UMS) to the State Unitary Enterprise Centre of Radio Communication, Radio Broadcasting and Television of The Ministry of Development of Information Technologies and Communications of the Republic of Uzbekistan
Mr. Andrei Dubovskov, President and CEO of MTS, commented, “For the period, we are pleased to report strong topline growth of 5.3% as total Group revenue increased to RUB 108.1 bln. Factors that have allowed us to build on our successful 3D strategy and set the pace for the market include: strong retail sales; stable service revenue despite on-going weaker usage in certain mobile market segments; growth in B2C home Internet and pay-tv markets; and growth in Ukraine through the steady adoption of 3G data services.
Shares of Enphase Energy Inc (NASDAQ:ENPH) ended Monday session at $1.20 with 1.77 million shares getting traded. Post opening the session at $1.22, the shares hit an intraday low of $1.19 and an intraday high of $1.25 and the price vacillated in this range throughout the day. The company has a market cap of $40.31 million and the numbers of outstanding shares have been calculated to be 46.74 million shares.
Enphase Energy Inc (ENPH) on September 22, 2016 announced restructuring and cost savings initiatives that are expected to result in approximately $20 million of annualized operating expense savings.
Enphase is reducing approximately 11 percent of its global workforce and eliminating certain non-core projects. The Company expects to incur aggregate restructuring charges in the third quarter of 2016 of approximately $3.0 million, including approximately $1.7 million in cash-based severance and related benefits, and approximately $1.3 million in non-cash expense for asset impairments and write-offs related to property and equipment. The restructuring actions are expected to be completed in the fourth quarter of 2016.
“We made these decisions as part of our efforts to increase our competitiveness in an environment where industry dynamics are constantly evolving,” said Paul Nahi, President and CEO of Enphase Energy. “We believe these restructuring actions will better align Enphase’s resources with our long-term competitive growth strategies and market opportunities. I would like to express my sincere gratitude to those employees affected by announcement for their many contributions to Enphase.”