Stockholm, Feb. 07, 2019 (GLOBE NEWSWIRE) --
On January 25, 2019, Vostok New Ventures Ltd (the “Company” or “Vostok New Ventures”) announced that an agreement had been entered into to sell its holding in Avito AB for a cash consideration of USD 540 million. With the increased liquidity, the Company intends to distribute SEK 25 per depository receipt (“SDR”) to its SDR holders by way of a split and mandatory redemption program subject to approval by the shareholders at a Special General Meeting to be held on February 14, 2019.
An information brochure describing the proposed split and mandatory redemption program is now available at the Company’s website (www.vostoknewventures.com/investor-relations/).
Preliminary timetable
| February 14, 2019 | Special General Meeting resolves on the Board’s proposal. |
| February 19, 2019 | Last day of trading in the SDRs before split and with right to receive Redemption SDRs. |
| February 21, 2019 | Record date for the split and right to receive Redemption SDRs. |
| February 22 – March 7, 2019 | Trading in Redemption SDRs. |
| March 11, 2019 | Record date for the redemption of Redemption SDRs. |
| March 14, 2019 | Expected date of payment of redemption settlement. |
For further information please contact:
Björn von Sivers, Head of Investor Relations, Tel +46 8 545 015 50
This information was submitted for publication, through the agency of the contact person set out above, at 08.20 CET on February 7, 2019.
Vostok New Ventures Ltd, formerly Vostok Nafta Investment Ltd, is an investment company with the business concept of using experience, expertise and a widespread network to identify and invest in assets with considerable potential for value appreciation. The company has a special focus on online marketplaces and businesses with strong network effects. The Swedish Depository Receipts (SDRs) of Vostok New Ventures are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV SDB. For more information on Vostok New Ventures, visit www.vostoknewventures.com.
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