Global Ports applies to UK regulator, LSE to delist GDR

MOSCOW. Feb 15 (Interfax) - Global Ports Investments plc has applied to the UK Financial Conduct Authority and London Stock Exchange to cancel the admission of its GDRs to trading with effect from April 11, 2023, the company said in a statement.

The company has also delivered a notice to JPMorgan Chase Bank, N.A., the depositary for its GDR program, to terminate the GDR deposit agreement effective April 11.

Global Ports Investments said on February 10 that it intended to delist from the LSE.

Shareholders will vote on March 2 on re-domiciling the company from Cyprus to a special administrative region on Russky Island in Primorye. Shareholders will also vote on changing the company's name from Global Ports Investments plc to International Joint-stock Company Global Ports Investments or IJSC GPI.

The Delo Group of Sergei Shishkarev and Rosatom owns 61.5% of Global Ports. Ilibrinio Establishment Ltd and Polozio Enterprises Ltd, the former owners of NKK, each own 9% of Global Ports and the company's free float is 20.5%. Trading of GDRs on the LSE has been suspended.