Globaltrans owners to mull redomiciliation to UAE on August 16

MOSCOW, Jul 26 (PRIME) -- The shareholders of Russian rail cargo operator Globaltrans will consider redomiciliation to the United Arab Emirates from Cyprus at an extraordinary general meeting (EGM) on August 16, the company said in a statement on Wednesday.

"The main business on the agenda for the EGM is to consider and, if thought fit, approve the start of the process to re-domicile Globaltrans Investment PLC from Cyprus to the Abu Dhabi Global Market by passing all the respective resolutions as indicated in the agenda of the EGM," Globaltrans said.

If approved, relocation can take about six months. The measure will unblock some internal corporate transactions, but will not necessary result in a restart of dividend payments.

The company also said that it was not considering listing its global depositary receipts on alternative stock markets. It would rather keep the listing on the Moscow Exchange and the London Stock Exchange.

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