The RSPP advocated for companies to buy back shares of “lost” shareholders – Kommersant

The Russian Union of Industrialists and Entrepreneurs (RSPP) proposed allowing joint stock companies to buy back shares from shareholders who have not exercised their corporate rights for a long time. This was reported by Interfax with reference to the source.

According to Interfax, the RSPP proposes to provide companies with the opportunity to buy back or redeem shares of owners whose information is not in the shareholder register, or those who have not been in touch for a long time (the RSPP does not specify what period of time we are talking about).

In the spring of 2023 he was in the State Duma introduced a bill allowing a joint-stock company to suspend the distribution of correspondence and the payment of dividends to “lost” shareholders. In June of the same year it was adopted in the first reading. First Deputy Minister of Economic Development Ilya Torosov said that the draft law could be adopted during the current parliamentary session, which will end on August 4.

According to the explanatory note of the bill, in Russia about 6 million people are considered “lost” shareholders who have not contacted companies for at least two years. Ilya Torosov explained that the suspension of dividend payments to them will reduce the financial burden on the business.

Lusine Balasyan