Lenta Ltd., one of the largest retail chains in Russia, announced that it has started the process of redomiciliation from the British Virgin Islands into Cyprus. On 19 December 2019, further to obtaining shareholder approval of the redomiciliation at the company’s extraordinary general meeting on 22 October 2019, the company applied to the Department of Registrar of Companies and Official Receiver for continuance of its incorporation into Cyprus.
Redomiciliation will become effective when Lenta Ltd receives a certificate of temporary registration in Cyprus, and thereafter the company will change its registered office address to 6 Karaiskaki Street, City House, 3032 Limassol, Cyprus, and will change its form to the public limited liability company incorporated under the laws of Cyprus. The company will adopt new memorandum and articles of association, will change its name to Lenta PLC and will transfer its register of shareholders from the British Virgin Islands to Cyprus. The Company’s GDRs will continue to be admitted to trading on the London Stock Exchange and the Moscow Exchange and to the Official List of the UK Financial Conduct Authority.
Also, independently of the redomiciliation, the company is planning to change the depositary appointed in connection with the company’s global depositary receipt programme from Deutsche Bank Luxembourg S.A. to its affiliate Deutsche Bank Trust Company Americas. This change of depositary shall become effective as of the earlier of the effective Date and 28 February 2020.