15 Mar 2024 16:45

Globaltrans re-domiciles from Cyprus to Abu Dhabi free economic zone

MOSCOW. March 15 (Interfax) - Globaltrans has changed jurisdiction.

Globaltrans Investment PLC said today that it has officially received a license from the Abu Dhabi Global Market Registration Authority on March 15, 2024, confirming successfully completing the re-domiciliation process from Cyprus to the Abu Dhabi Global Market economic zone as of February 26, 2024, Globaltrans said.

The updated charter and new composition of the board of directors, which were approved by shareholders at an extraordinary meeting of shareholders (EGM) on August 16, 2023, came into force on the date of completion of the redomiciliation.

The decision of the EGM says that, after redomiciliation, accounting of the company's shares will be organized electronically according to the rules of Abu Dhabi Global Market (previously accounting was carried out in paper form).

Globaltrans has received the necessary regulatory approvals for the redomiciliation and also confirms the continuation of its depositary program and listing on the London and Moscow exchanges, it said in a statement.

Globaltrans specializes in rail transportation of metallurgical cargo, petroleum products, construction materials and coal. The company was founded in 2004 by a group of like-minded entrepreneurs who united their freight rail transportation businesses under a single brand called Globaltrans. The Globaltrans fleet by the end of June 2023 included about 66,000 units of rolling stock. 94% of the fleet is company-owned.

The main shareholder of Globaltrans (26.7% of shares) is the investment company Aqniet Capital LLP (Kazakhstan), whose beneficiary is Kairat Itemgenov; 11.5% belongs to Marigold Investments Ltd (the beneficiary is Globaltrans co-founder Andrey Filatov); 5.1% belongs to Litten Investments Ltd (beneficiary - non-executive director and co-founder of Globaltrans Alexander Eliseev), and 0.9% belongs to Transportation Investments Management Ltd (beneficiaries - co-founders of Globaltrans Andrey Filatov, Nikita Mishin and Konstantin Nikolaev), while 0.1% is under the control of directors and management and 55.7% is in free float.