Shareholders approved the reorganization of Detsky Mir into a private company
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At the last meeting of shareholders, the reorganization of the Detsky Mir company from public to private was approved. message on her website.
“The Extraordinary General Meeting of Shareholders of PJSC Detsky Mir, held on December 29, 2022, decided to approve the new version of the charter of PJSC Detsky Mir and reorganize PJSC Detsky Mir in the form of a spin-off of DM Limited Liability Company , the message says.
The meeting was attended by shareholders with 54.85% of the total number of votes, 97.91% of them were given for the reorganization of the company. The company added that shareholders who did not take part in the voting or voted “against” may demand the repurchase of their shares at a price of 71.5 rubles. per ordinary share.
Detsky Mir announced its intention to leave the Moscow Exchange in mid-November, and on December 7, it redeemed bonds in the amount of 3 billion rubles ahead of schedule. The procedure involves the reorganization of PJSC Detsky Mir, a partial transfer of shareholders from a public company to non-public LLC Detsky Mir, and an offer to sell PJSC shares to shareholders who have not transferred to an LLC.
The company plans to allocate no more than 10% of the value of net assets to buy back shares – this is 1.6 billion rubles. as of November 7th. Given the price, the company will be able to satisfy applications for about 3% of its shares and 5% free float, Artem Mikhaylin, an analyst at Veles Capital, estimated earlier.
As noted experts interviewed by Vedomosti, the delisting of Detsky Mir is a logical decision in the current environment, which may be driven by a desire to gain greater flexibility in implementing the strategy in the current economic situation.
For the first nine months of 2022, Detsky Mir’s revenue amounted to RUB 127.8 billion, up 5.7% year-on-year. Profit from sales reached 15.1 billion rubles. (+31.2%), and net income increased by 23.9% to 9.4 billion rubles.
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