Moscow Exchange shareholders to vote on consolidation of subsidiaries at EGM on 2 September
At its meeting on 21 July 2016, Moscow Exchange"s Supervisory Board resoIved to call an Extraordinary General Meeting of Shareholders (EGM) to address the question of corporate restructuring of PJSC Moscow Exchange. The EGM will be asked to approve consolidation by PJSC Moscow Exchange of its 100%-owned subsidiaries CJSC MICEX Stock Exchange and MB Technologies and the terms and conditions of the restructuring. The EGM will be held on 2 September 2016.
CJSC MICEX Stock Exchange and OJSC MB Technologies are part of Moscow Exchange Group"s unified trading, settlement and technological system. The restructuring will optimise the Group"s corporate structure, streamline customer relationships with Group companies and reduce costs both for customers and for the Exchange.
As required by applicable law, under the restructuring the Exchange will offer to buy back its shares. The Supervisory Board, taking into consideration the recommendations of an independent appraiser, set the price for the buyback at RUB 106 per share.
The EGM record date will be 1 August 2016. In the event that the restructuring is approved by the EGM, corporate procedures related to the restructuring are to be completed by the end of 2016.
The restructuring will require no additional action on the part of issuers, customers or other counterparties. Following the restructuring, PJSC Moscow Exchange will become the full-fledged legal successor of the consolidated companies and acquire all their rights and responsibilities under existing contracts and other obligations.
Frequently asked questions for Moscow Exchange shareholders can be found on Moscow Exchange"s website: http://moex.com/s1356
Notes for editors:
CJSC MICEX Stock Exchange is the organiser of trading on Moscow Exchange"s Equity & Bond Market and Money Market. OJSC MB Technologies offers technical access services for trading on Moscow Exchange"s Derivatives Market as well as co-location services at Moscow Exchange"s data centres.
For further information, please contact the Public Relations Department at (495) 363-3232.