Ozon shareholders approve decision to re-domicile holding company from Cyprus to Russia

MOSCOW. Dec 27 (Interfax) - Ozon's shareholders at the annual general meeting on Friday approved the decision to register the holding company IPJSC Ozon at the special economic zone (SEZ) on Oktyabrsky Island in the Kaliningrad Region.

This involves redomiciling Cyprus-based Ozon Holdings Limited, preparations for which have been underway for two years.

"The procedure involves the complete transfer of Ozon's shareholder structure to Russia, and all shareholders will participate in the redomiciliation on the same basis," the company said in a press release published on Friday.

It was previously reported that the process involves the exchange of Ozon Holdings Limited ADS for IPJSC securities, with no buyback of shares or ADS planned.

Trading in the company's securities on the stock exchange will be suspended for several weeks to convert depositary receipts into shares of the IPJSC, which will be available for purchase to all investors, after the company has registered in Russia, Ozon also said in the press release.

The relocation process is expected to be completed by the end of 2025, upon which the shares of IPJSC Ozon will be traded on the Moscow Exchange.

Redomiciling should contribute to growth in securities liquidity, reduce regulatory risks, allow resuming the option program for employees, and simplify intra-group transactions, Ozon's press service said.

PJSC AFK Sistema owns a 31.76% stake and Vostok Investments owns around a 28% stake in Ozon, and the remaining shares are in free float.

The National Settlement Depository (NSD) infrastructure accounts for around 10% of Ozon's capital, the company's IR director, Maria Berasneva, said at the beginning of the summer.