14 Nov 2023 09:57

Rusagro preparing to file paperwork with Cyprus regulators to begin redomiciliation - CFO

MOSCOW. Nov 14 (Interfax) - Rusagro Group, the parent company of which is Cyprus-based Ros Agro , is continuing preparations to change its jurisdiction.

"We're continuing to work on the redomiciliation project. We're in the process of preparing to submit documents to the regulatory bodies of Cyprus so that the redomiciliation is launched. As soon as we have concrete news, we will immediately inform everyone with a press release," the Russian agribusiness company's CFO, Alexander Tarasov said in a conference call on Monday.

He did not forecast how long this process will take, saying that the "timeframes can differ."

Tarasov said in a conference call in August that the process was going somewhat more slowly than anticipated.

The London Stock Exchange suspended trading of Ros Agro Plc's depositary receipts indefinitely in March 2022, and in June that year shareholders who held receipts through Russia's National Settlement Depository (NSD) were deprived of the ability to receive dividends and vote at company shareholder meetings.

In June 2022 shareholders approved the possibility of delisting Ros Agro's GDRs from the LSE and listing the company on another international exchange. The company's shares have traded on the Astana International Exchange in Kazakhstan since March 2023.