Globaltrans shareholders approve redomiciliation from Cyprus to Saudi Arabia
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The shareholders of the logistics company Globaltrans approved the change of jurisdiction to the free economic zone (FEZ) of Abu Dhabi from Cyprus, its press service reported. Against the backdrop of the news at the moment of the receipt, the companies on the Moscow Exchange grew by 5.8%.
“All proposed special solutions regarding the start of the process of re-domiciliation of Globaltrans Investment PLC from Cyprus to the Abu Dhabi Global Market Free Economic Zone have been approved by a qualified majority of votes,” the statement said. message companies. The meeting of shareholders was held today, August 16.
After the publication of the company’s press release, its receipts on the Moscow Exchange at the moment increased by 5.8%, to 757 rubles. for paper. After the cost of receipts slowed down growth. By the close of trading, they traded at 724.25 rubles. apiece, up 1.27% from the previous close.
Globaltrans announced on plans for redomiciliation at the end of July. Then the company estimated that it would take about six months to change jurisdiction. Globaltrans noted that they plan to keep the listing on the London and Moscow stock exchanges. The company explained that the re-registration will unlock part of the intra-group transactions.
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