OFAC approved an “exit tax” as part of the offer to HeadHunter shareholders – Kommersant
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The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has granted a license under the offer of the international joint stock company (MCAO) Headhunter to buy out the holders of shares and American depositary receipts (ADR) of the holding HeadHunter Group (registered in Cyprus), which are stored outside Russian infrastructure. This is reported by Interfax with reference to materials from ICAO.
According to ICAO Headhunter, the OFAC license covers the so-called exit tax for US holders of HeadHunter securities who want to accept the offer, as well as for US intermediaries involved in its implementation.
The offer for the repurchase and exchange of securities of HeadHunter Group Plc MKAO Headhunter was announced on October 31. The final purchase price, taking into account the exit tax of 10%, will be 819.45 rubles. a piece. The offer will be considered valid if the company receives applications to purchase at least 10.1 million shares of HeadHunter Group, or 20% of the total number of issued securities.
As a result of the processes of repurchase and exchange of shares, MCAO Headhunter should become a holding company of the HeadHunter group with a listing of shares on the Moscow Exchange. Headhunter Group PLC itself plans to redomicile to Russia. To begin re-registration, it must be approved by at least 75% of shareholders.
Read more in the Kommersant article. “HeadHunter is going to Russia”.
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