Food retailer ICS 5 has completed the process of distributing shares

On September 3, X5 completed the collection of applications from holders of depositary receipts of X5 Retail Group NV, stored in foreign depositories, for the distribution of shares of PJSC Corporate Center ICS 5.

According to Federal Law No. 470-FZ of August 4, 2023, the company was required to determine the list of persons entitled to direct ownership of shares and complete the process of transferring shares no later than September 17, 2024.

At the end of August, the company also credited shares to the accounts of holders of X5 Retail Group NV receipts stored in the Russian depository system.

• In March, the Ministry of Industry and Trade asked the Court of Arbitration to suspend the corporate rights of Dutch X5 Retail Group NV in relation to its Russian subsidiary. It was reported that X5 Retail Group NV’s ownership of a stake in the Russian X5 Group creates risks of harm to the X5 division in Russia.
• On May 3, the court decided to suspend the corporate rights of X5 Retail Group NV in relation to LLC “Corporate Center ICS 5”.
• In July, the Moscow Arbitration Court of Appeal rejected Dutch company X5 Retail Group NV’s appeal against the deprivation of its corporate rights in relation to its Russian subsidiary.

On September 2, X5 Retail Group NV filed an appeal against the decision of the Moscow Region Arbitration Court to suspend corporate rights. The hearing of the case is scheduled for November 21.

The date of the start of trading of PJSC Corporate Center ICS 5 shares on the Moscow Stock Exchange has not yet been determined and will be announced later.