VK says holders, board approve redomiciliation to Russia

MOSCOW/KALININGRAD, Aug 11 (PRIME) -- Russian Internet company VK’s shareholders and the board of directors have approved the decision to get re-domiciled to the home market from the British Virgin Islands, VK said on Friday in a statement.

“Once registered in the Russian Federation, it will become VK international public joint-stock company (VK IPJSC) with its legal address in a special administrative region on Oktyabrsky Island, the Kaliningrad Region. The current members of the board of directors of VK Company Ltd. will continue to act as members of the board of directors of VK IPJSC,” the statement read.

The articles of association and the decisions to issue common shares and Class A convertible common shares, and a securities prospectus for the re-domiciliation were also approved.

“As the government of the Kaliningrad Region, we welcome VK’s decision to get re-domiciled to our region. I am sure that the decision will give an additional impetus to our further cooperation,” Dmitry Lyskov, head of the regional government’s press service, told PRIME.

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