TRCN.L Regulatory News (TRCN)

21 August 2020

PJSC TransContainer

Completion of the squeeze-out of outstanding PJSC TransContainer shares 

PJSC TransContainer ("TransContainer" or the "Company") (LSE: TRCN; MOEX: TRCN) notifies that LLC Delo-Center ("Delo-Center"), a subsidiary of Delo Group, has completed the squeeze-out ("Squeeze-Out") of the Company's remaining shares following the squeeze-out request announced on 15 June 2020.

As a result of the Squeeze-Out, Delo-Center acquired 49,876 ordinary shares of TransContainer PJSC, which represents 0.4% of the Company's total outstanding shares, thus, bringing its stake to 100%. The squeeze-out price was set at RUB 8,679.52 per one ordinary share. Payments were made in cash in Russian roubles to the holders of ordinary shares of the Company who are registered in the register of shareholders of the Company as at the record date of 18 July 2020.

Payments for the ordinary shares represented by Global Depositary Receipts ("GDRs") were transferred to, and received by, The Bank of New York Mellon ("BNY Mellon"), the depositary with respect to the Company's GDR programme, as the holder of record of the ordinary shares underlying the GDRs. According to the announcement published by BNY Mellon on 19 August 2020, effective from 26 August 2020, TransContainer GDR holders will be required on a mandatory basis to surrender their GDRs to BNY Mellon for cancellation and exchange, and holders of GDRs in brokerage accounts will have their GDRs automatically exchanged for the cash proceeds. BNY Mellon also notified GDR holders of PJSC TransContainer that the agreement between BNY Mellon and GDR holders had been terminated effective immediately. BNY Mellon has closed its books for all transactions.

Full details on the Squeeze-Out procedures were outlined in the announcement from 15 June 2020 and are available on the Company's website at: https://trcont.com/en/investor-relations/corporate-disclosure/regulatory-news/uk-disclosure; BNY Mellon announcement is available at: https://www.adrbnymellon.com/files/ad877754.pdf

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About TransContainer

PJSC TransContainer (LSE: TRCN; MOEX: TRCN) is the leading intermodal container transportation company in Russia with a market share of approximately 41%. It is the market leader in Russia by flatcar fleet size, container transportation by rail and railside container terminal throughput. As at 30 June 2020, it owned and leased more than 32,000 flatcars and more than 88,000 ISO containers. TransContainer owns a network of rail-side container terminals, located at 38 railway stations across Russia, the Company's joint ventures also operate three terminals in Russia. Company's sales network comprises 90 sales outlets in Russia, along with additional outlets across the CIS, Europe and Asia. TransContainer is listed on the Moscow Exchange and London Stock Exchange.

Legal Disclaimer

Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward-looking statements by terms such as 'expect', 'believe', 'anticipate', 'estimate', 'intend', 'will', 'could', 'may' or 'might', the negative of such terms or other similar expressions. PJSC "TransContainer" wishes to caution you that these statements are only predictions and that actual events or results may differ materially. PJSC "TransContainer" does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of PJSC "TransContainer", including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries PJSC "TransContainer" operates in, as well as many other risks specifically related to PJSC "TransContainer" and its operations.