VK today announced a forthcoming change in jurisdiction: VK Company Limited will undergo a re-registration of legal entity from the British Virgin Islands to Russia - to a special administrative region on the Island of October in the Kaliningrad region.
VK Company Limited announces the decisions taken by shareholders and the Board of Directors of VK on redomiciliation - the cessation of the company's activities in the British Virgin Islands and its continuation in the Russian Federation as an international company of a public joint-stock company in accordance with Russian legislation.
It is reported that the members of the board of directors of ICPJSC 'VK' (the new company after re-registration) will remain the current members of the board of directors of VK Company Limited. Also, decisions were made on the delisting of global depositary receipts and eurobonds of the company from the London Stock Exchange and the initial listing of the company's shares on the Moscow Exchange.
The fact that VK might change jurisdiction became known in February of this year. Then the board of directors of VK approved the potential re-registration of the holding subject to compliance with legislation.