Cyprus regulator grants Ozon permission to relocate to Russia

MOSCOW. July 30 (Interfax) - The Ozon marketplace has been granted permission by the Cypriot Department of Registrar of Companies and Intellectual Property to relocate to Russia, the company reported.

This refers to Ozon Holdings Limited of Cyprus, whose shareholders approved the decision to relocate to the Kaliningrad region's special administrative district at the end of December. There, it will continue operating as IPJSC Ozon. It has been reported that the relocation process should be complete by the end of 2025, whereupon the company's shares will be traded on the Moscow Exchange.

The company's shareholders will hold an extraordinary meeting on September 1, to discuss "legal questions essential for the completion of the relocation process", the approval of the company's new legal structure in Russia, the composition of the board of directors, the amount of the charter capital, the approval of the charter as well as the conferral of powers allowing the board of directors to perform certain actions related to the relocation.

The record date for shareholders eligible to participate in the meeting is August 15.

Ozon also said on its Telegram channel that following the completion of its redomiciliation, Ozon's depositary receipts will be automatically converted into shares of the Russian ICPJSC. In connection with this, trading in the company's securities on the exchange will be suspended for several weeks.

AFK Sistema owns 31.76% of Ozon, and a further 27.71% share is held by JSC O23, owned in turn by businesses belonging to Alexander Chachava. The remaining shares are in free float.