Restructuring from the CMD25 Jan 2023 18:24
So much confusion on here, i went to the CMD and took away the following from the presentation and questions:
1. Poly will move it's legal entity from jersey ( blacklisted by RU) to Kazakhstan that is not on any Russian sanctions ( By Q2-3 2023 if the move is voted through by shareholders) so it can resume dividend payments by the end of 2023 (Vitaly said this today at the CMD but i think realistically it will be after H1 2024).
2. LSE shares will be either swapped for global depository receipt shares (Dependent on the FCAs approval) OR LSE shares moved to only be traded on the Kazakhstan stock exchange OR POLY is listed on a neutral stock exchange in the middle east that has better liquidity.
3. H1 2024 Poly will split into two legal entities Poly RU and Poly Kazakhstan so Russian shareholders can get dividends too as at the moment they are unable to receive dividends due to RUs own sanctions against foreign companies. Vitaly didn't go into any detail on how the split would work in practice.