Iweb demerger details19 Jan 2022 12:58
Demerger of PJSC Raspadskaya (RASP).
You will receive a cash entitlement to 0.425547788 of a New PJSC Raspadskaya share for each Existing EVRAZ share held on the Ex-entitlement Date. The company has informed us that the Ex-entitlement date should be announced on or around 9th February 2022.
Due to the demerger we will no longer be able to accept any new purchases or transfers in for EVRAZ shares until after the Ex-entitlement date. This includes regular investments and purchasing TradePlans. All existing regular investments, and purchasing TradePlans will be deleted.
Important Information & Other Key Dates:
On 16th April 2021, EVRAZ announced a proposed demerger of the Company's Russian based coal mining business PJSC Raspadskaya (RASP). The demerger will entitle holders to 0.425547788 of a RASP share for each existing EVRAZ share held on the Ex-entitlement date. The company has informed us that the Ex-entitlement date should be announced on or around 9th February 2022.The demerger will be implemented by way of a Dividend in Specie of RASP shares.
As all trading in RASP shares is currently on the Moscow Stock Exchange, we will be unable to hold the RASP shares after the demerger therefore any RASP shares to which you are entitled will be sold via the Share Sale Facility (SSF) offered by EVRAZ. You will receive a cash entitlement when the SSF has completed. EVRAZ have anticipated that the sale of RASP shares could take up to 6 months to complete.
If you wish to receive RASP shares from the demerger you will need to establish an arrangement with an alternative broker and have the EVRAZ shares transferred to them by 14th February 2022. You will need to instruct the alternative broker to arrange the transfer with us which will be done at no cost. Please check that the receiving broker can hold RASP shares prior to the transfer.
The demerger means shareholders will continue to hold EVRAZ shares. EVRAZ will continue to be listed and traded on the London Stock Exchange.
Should you wish to find out more information about the demerger and the SSF, please visit the EVRAZ website and read the circular which provides detailed information. The website and circular can be found at www.evraz.com/
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