TCS Group announced the delisting of receipts from the London Stock Exchange from January 31 – Kommersant
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TCS Group (the parent company of Tinkoff Bank and Tinkoff Insurance) announced that it plans to delist global depositary receipts from the London Exchange (LSE) from January 31, 2024, it says (.pdf) company press release.
The group recalled that trading in TCS Group securities on the LSE was suspended on March 3, 2022. Accordingly, the company requested delisting to avoid wasting the time and resources required to maintain a listing on the exchange.
January 8, 2024 at an extraordinary meeting of shareholders of the company will be considered the question of changing jurisdiction from Cyprus to Russia. November 21, 2023 were changes to the company’s charter were approved. The company’s board of directors was renewed and its composition was reduced to three people. A quorum of two directors is sufficient to make decisions. Lawyers called the measures preparatory before the planned re-registration of the group from the jurisdiction of Cyprus.
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