Detsky Mir, as part of the company’s ongoing transformation into a private company, is launching a share buyback program. The purchase price for minority shareholders, as previously planned, will be 71.5 rubles. This was reported by the press service of the company.
They explained that the reorganization procedure was completed through the spin-off of a 100% subsidiary operating company DM LLC. The next step is the repurchase of shares.
Non-residents will be offered to sell securities at a price of 71.50 rubles, money will be transferred to type C accounts. They can also repurchase shares at a price of 60.77 rubles per share with receipt of funds to accounts of liquidation indicated by the shareholders, without going through the type C accounts.
The sale provides for several options: by submitting an application at the exchange’s auction from May 30 to July 28, or by offering shares at DMI or DMFA.
Also, if any subsidiary obtains more than 30% of the shares as a result of the sale of DP DMI and DP DMFA, the entity will have to offer the remaining shareholders to buy shares from them.
After that, the company can be wound up, but only subject to appropriate corporate decisions.
Under such a scenario, investors from “unsympathetic” countries, who will not be able to participate in the buyout programs, will be able to receive ownership of the company after the liquidation.
Detsky Mir announced the transition to private company in November last year. The reason was the consequences of international sanctions and the response of the Russian state to them. For example, foreign investment funds that have shares in the structure have lost the opportunity to carry out transactions at auctions on the Moscow Stock Exchange.
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