Regarding the procedure for conversion of Seligdar’s preferred shares into ordinary shares

The procedure for conversion of PJSC Seligdar’s preferred shares is established as follows:

  • On December 20, 2021, PJSC Seligdar will send a notice for conversion of the preferred shares to its Registrar, JSC Novy Registrator.
  • In accordance with the law, the Registrar will convert preferred shares into ordinary shares on the third business day after the notice has been received, i.e. on December 23, 2021.
  • December 17, 2021 is the last day when preferred shares are traded in the main trading mode on Moscow Exchange.
  • December 20, 21 and 22, 2021 is the period when preferred shares are traded in the negotiated trades mode; the last settlement day is December 22, 2021.
  • Ordinary shares of additional issue received by the preferred stock owners as a result of the conversion are expected to be available for trading during one or two business days after the conversion date.
  • With regard to the preferred shares conversion, no further actions from shareholders are required.
  • Trading in ordinary shares will not be suspended.
  • The explanatory paper received by PJSC Seligdar from the tax adviser states that the conversion of the preferred shares into ordinary shares implies neither revenue nor loss for shareholders. When disposing of ordinary shares, cost of ordinary shares received through the conversion of preferred shares is recognized as incurred expense for preferred shares purchase and should be supported by evidence.

The conversion is executed with respect to all preferred shares with each preferred share being converted into one ordinary share of additional issue; the preferred shares are cancelled after the conversion. After the conversion, the number of PJSC Seligdar’s ordinary shares outstanding will comprise 992,354,730.

The resolutions on the conversion of preferred shares into ordinary shares were approved by the General Meeting of Shareholders on September 20, 2021, and by the Board of Directors on October 5, 2021. The Bank of Russia registered amendments to the resolution on preferred shares issue and additional issue of the Company’s ordinary shares on November 29, 2021.

2020 Annual Report (pdf, 9 Мб)
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