VK shareholders approve re-domiciliation from BVI to Russia, delisting from LSE on Sept 12

MOSCOW. Aug 11 (Interfax) - Shareholders and the board of directors at VK have approved the Russian internet holding's re-domiciliation from the British Virgin Islands to Russia, VK said in a press release.

"Once registered in the Russian Federation, [the company] will become VK international public joint-stock company (VK IPJSC) with its legal address in a special administrative region on Oktyabrsky Island, Kaliningrad Region," VK said.

Decisions on the delisting of VK's global depositary receipts and Eurobonds from the London Stock Exchange, and the primary listing of the company's shares on the Moscow Exchange , were also approved.

The LSE delisting is expected to take effect on September 12.

The company will request that the UK Financial Conduct Authority to remove the GDRs from the Official List of the FCA and the LSE and cancel the admission of the GDRs to trading on the LSE Main Market.

The company's decision to delist the GDRs and the bonds is due to the "majority of its assets being located in Russia" as well as the "inability to disclose regulatory news on the LSE and the "effective suspension of trading of the GDRs and the bonds by the LSE since March 3, 2022."