Moscow. December 22. Global Depository receipts (GDR) Uralkali since December 22, excluded from the quotation list of the London stock exchange (LSE).
Uralkali has previously announced that it plans to implement delisting as a GDR regulation S, GDR and the rule 144A. In effect extremely small volume of the GDR program under rule 144A, the company intends to terminate it after delisting. This is expected to occur on January 12, 2016.
The owners of GDRs the rule 144A may redeem your receipts for 30 days prior to the end of the program, and to get certified by their shares or to exchange their GDRs the rule 144A GDRs on the S.
The GDR program under regulation S expected to continue, but the owners of these receipts will no longer be able to carry out transactions with its GDR on the London stock exchange and will not be able to obtain market quotations receipts noted earlier, Uralkali. The owners of the GDR, the regulation S can also redeem their GDR and to get certified by them for the shares, which are listed on the “Moscow exchange” (1 GDR is equal to 5 shares).
Currently, Uralkali is implementing a program of purchases of shares and GDRs on the open market in the amount of up to 6.5% of the share capital. The duration of the program – 24 November 2015 to 31 March 2016. The acquisition of securities after delisting from LSE is on “Moscow exchange”, on the OTC market and through private transactions, including option agreements.
The company noted that at the current step keeps the listing on the “Moscow exchange”, but in the case of reducing the number of shares in free float to below 10%, the exchange may reduce the level of listing of shares from the first to the third level.
The main shareholders of the potash company are “ONEXIM” with a share of 20% and URALCHEM (19,99%). The package of Treasury shares of “Uralkali” is 33,54%, 12,6% quasicanonical shares pledged under REPO in “VTB Capital”. According to 16 October in free float was 13,86% stake in the company.