Avangardco Investments Public Limited (Avangardco, Cyprus) made a statement on London Stock Exchange on Thursday that extraordinary
shareholders’ meeting was moved from November 30 th to December 30th, 2011. The main topic of the meeting is the approval of a share buyback
program of the company's shares in the form of global depositary receipts (GDRs) in the open market. The approval of the share buyback program
was put onto the EGM agenda because, according to Victoria Korolchuk, the head of Investor Relations at Avangardco, the company's shares on
the market were undervalued.

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