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VK’s Board of Directors approves potential re-domiciliation to the Russian Federation

VK Company (VKCO)
VK’s Board of Directors approves potential re-domiciliation to the Russian Federation

14-Feb-2023 / 10:00 MSK
Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EquityStory RS.
The issuer is solely responsible for the content of this announcement.


 14 February, 2023 

VK COMPANY LIMITED

 

VK’s Board of Directors approves potential re-domiciliation to the Russian Federation

 

VK Company Limited (LSE, MOEX: VKCO) (“VK” or “the Company”) announces that on 13 February 2023 the Board of Directors of VK (“the Board") approved an opportunity for the Company to effect a change of domicile (“re-domiciliation”) from the British Virgin Islands (“BVI”) to the Russian Federation ("Russia"), subject to the Company’s ability to meet all the applicable legal and regulatory requirements.

 

In the current environment, with the vast majority of assets now based and generating revenue in Russia, and Russian shareholder base having increased, re-domiciliation is in the best interests of the Company and its shareholders. Moving away from offshore jurisdictions is also considered to be among the best practices for listed companies. 

 

The re-domiciliation would result in VK becoming an International Public Company under the Russian law. VK will be able to continue operating as a legal entity in Russia, and the re-domiciliation serves to support the company's operational efficiency.

 

VK intends to maintain its public company status and will make regular updates on the progress of re-domiciliation.

 

For further information please contact:

 

VK PR team

 

VK IR team

 

VK is one of the largest technology companies in Russia. Its products help millions of people with their day-to-day needs online. More than 90% of the Russian internet audience use VK services, which enables people to keep in touch, play video games, master new skills, listen to music, watch and create video content, buy and offer goods and services, fulfill wide range of other needs. The company provides a number of solutions for digitizing business processes, from online promotion and predictive analytics to corporate social networks, cloud services and enterprise automation.

 

The information contained in this Announcement is considered by the company as insider information, in accordance with the Regulation on Market Abuse (Regulation 596/2014/eu), as it is part of the domestic legislation of the United Kingdom in accordance with the European Union Act 2018 as amended. After the publication of this announcement through the required disclosure service, this insider information is recognized as publicly available.

 

 



ISIN: US5603172082
Category Code: MSCH
TIDM: VKCO
LEI Code: 2138009IXUP41SPL5B50
Sequence No.: 222800
News ID: 1558621

 
End of Announcement EquityStory RS News Service

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14/02/2023

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