Interesting Article28 Apr 2023 16:44
https://www.interfax.ru/business/898257
VK will stop publishing news on the LSE from May
Moscow. April 28th. INTERFAX.RU - Internet company VK will stop disclosing regulatory news on the London Stock Exchange from May 1.
According to the company, this is due to the impossibility of further interaction with the main service provider for the publication of press releases.
VK notes that it has made several requests to other existing providers (including RNS) authorized by the UK Financial Conduct Authority for public disclosure of information, but has not received consent to cooperate.
"From May 1, 2023, the company will no longer be able to disclose information in accordance with the procedures required by the market abuse regulation and the UK disclosure transparency rules. VK will continue to publish regulatory information on its corporate website, as well as on the website of the Interfax-CRKI Information Disclosure Service" , the company said.
In March 2022, the LSE announced the suspension of the admission to trading of securities of a number of Russian companies, including VK.
Earlier in April, other Russian issuers, Lenta and Nornickel, also announced the termination of information disclosure on the LSE. The problem with the provider was also reported by the gold miner Polymetal, registered on the island of Jersey.
As Interfax was previously informed by interlocutors in several Russian public companies, the large Equity story (EQS) provider, which many used as an alternative to the exchange's official service, RNS, stopped working with Russian companies on March 31. Other providers, including RNS, refuse to enter into new agreements with Russian issuers. It is possible to disclose information in the UK financial market through a limited number of providers (primary information provider, PIP), accredited by the regulator - FCA.
EQS Group, due to EU sanctions, can no longer provide information disclosure services to issuers registered in Russia and those under restrictive measures, EQS commented.
In February, VK announced plans to redomiciliate a company from the British Virgin Islands (BVI) to Russia. At the same time, VK intends to maintain the status of a public company. An Internet company may be re-registered in a special administrative region (SAR) of the Kaliningrad region (Oktyabrsky Island), the Vedomosti newspaper wrote, citing sources.
The holding company VK Company Limited is registered in the BVI, and its operating subsidiary OOO VK is registered in Russia.
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