The Board of Directors of VK approved the possibility of re-registration of the company in Russia
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VK Company Limited (VK) announced that the board of directors of the company has approved the possibility of redomiciliation of the company from the British Virgin Islands to the Russian Federation, says in a press release.
“In the current situation, when the vast majority of assets are based and generate revenue in Russia, and the number of Russian securities holders has increased, redomiciliation is in the interests of the company and its shareholders, and is also the best practice for public companies to exit foreign offshore jurisdictions,” said in companies.
If the re-registration is carried out, then VK will become an international public company under the laws of the Russian Federation. VK intends to maintain the status of a public company and will regularly provide information on the progress of the redomiciliation procedure, which, as the company noted, will allow it to continue operating as a legal entity in the Russian Federation and improve management efficiency.
Against the background of news about the possible re-registration of VK, the company’s receipts at the moment have risen in price by 4.68%, up to 505 rubles. per piece As of 10:11 am, the paper fell to 497.2 rubles. per piece
Earlier in November 2022, the Dutch investment company Prosus came out from the shareholders of VK through the write-off of its 25.7% stake in favor of the media holding. VK sold the received shares to management. The deal amounted to 24.8 billion rubles. The press service of VK added that the Singularity Lab company will be responsible for the management motivation program for the development of VK’s strategic directions. It is headed by VK senior vice president for investment and business development Alexander Aivazov.
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