VK Board of Directors approves possible business re-registration in Russia
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VK reported that yesterday, February 13, its board of directors approved the possibility of redomiciliation (transfer of a company from one jurisdiction to another without the need to close it) from the British Virgin Islands to Russia. In the event of re-registration, VK will become an international public company and continue to operate as a legal entity in Russia.
“In the current situation, when the vast majority of assets are based and generate revenue in Russia, and the number of Russian holders of securities 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,” the statement says. VK message.
The company added that redomiciliation would be possible “subject to compliance with applicable legal and regulatory requirements.” Its possible timing and other details are not given.
In November, VK announced that the investment company Prosus, owned by the South African Naspers, withdrew from the shareholders of the Russian holding, where it owned 25.9%. Prosus donated its stake to VK, which sold the paper for 24.8 billion rubles. Singularity Lab LLC. The latter “will ensure the work of the new long-term management motivation program for VK.”
Details – in the material “Kommersant” “VK came under management”.
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