LSR Group announces results of tender offer for global depositary receipts
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21 July 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
34,545,672 global depositary receipts were tendered
Tender offer price was set at $2.11 per one global depositary receipt
St. Petersburg, Russia – 21 July 2021 – PJSC LSR Group (“LSR” or the “Company”) (LSE: LSRG; MOEX: LSRG), one of the leading real estate developers and building materials producers in Russia, today announces the results of tender offer to purchase its Regulation S (ISIN US50218G2066) and Rule 144A (ISIN US50218G1076) global depositary receipts, representing interests in the Company's ordinary shares (the “GDRs”), at the price of $2.11 per one GDR (the “Tender Offer”). The Tender Offer is undertaken by AO STROIKORPORACIYA, a wholly owned subsidiary of the Company, for cash.
Based on the report provided by American Stock Transfer & Trust Company, acting as agent of the Tender Offer (the “Tender Agent”), 34,545,568 of Regulation S GDRs and 104 of Rule 144A were tendered. AO STROIKORPORACIYA accepted to purchase all tendered GDRs for an aggregate consideration of $72,891,367.92. Total amount of GDRs to be purchased in the Tender Offer corresponds to 6,909,134.4 of the Company's ordinary shares (ISIN RU000A0JPFP0) (the “Shares”), representing 6.71% of the Company’s share capital. Following completion of the purchase of GDRs tendered in the Tender Offer, the free float of LSR’s Shares (including Shares in the form of GDRs) will be 35.03%, assuming that all tendered GDRs will be transferred to AO STROIKORPORACIYA.
As announced on 21 June 2021, the Company applied to the Financial Conduct Authority for the GDRs to be removed from the Official List of the Financial Conduct Authority and to the London Stock Exchange (the “LSE”) for trading in the GDRs to be cancelled with effect from 2 August 2021 (the “Delisting”).
Full version of the press release.