MTS waives bankruptcy moratorium, maintains right to dividends, buyback

MOSCOW. April 13 (Interfax) - MTS filed an application for waiver of the moratorium on initiation of bankruptcy proceedings on applications filed by creditors, the company said in a notice on Fedresurs.

Thus, the company will not be subject to the moratorium introduced by the Russian government from March 28, 2022.

As of April 1, 2022, the government introduced a six-month moratorium on filing bankruptcy cases at the request of creditors against legal entities, individual entrepreneurs and citizens. In order to retain the right to pay dividends or carry out a buyback, the issuer must waive the moratorium.

MTS also waived the moratorium when it was first introduced during the Covid-19 period in 2020.