Kurs & Likviditet
Prenumeration
Beskrivning
Land | Sverige |
---|---|
Lista | Mid Cap Stockholm |
Sektor | Finans |
Industri | Investeringar |
By order of the Supreme Court of Bermuda, the Board of Directors of Vostok New Ventures Ltd. (“Vostok New Ventures” or the “Company”) has today convened a special meeting of holders of Swedish Depository Receipts (“SDRs”) in the Company (the “Scheme Meeting”) to vote on the proposed change of domicile of the Vostok New Ventures group from Bermuda to Sweden (the “Redomestication”), by way of a Bermuda scheme of arrangement (the “Scheme of Arrangement”), to be held immediately following the Annual General Meeting, approximately 3.30 p.m. on 12 May 2020, at the offices of Vinge law firm, Stureplan 8, SE-111 87, Stockholm, Sweden.
Copies of the full notice of the Scheme Meeting, the Scheme of Arrangement, an explanatory statement describing the Scheme of Arrangement in detail and a proxy card are available on the Company’s website www.vostoknewventures.com.
Under the Board of Directors’ proposal, as first announced by the Company on 7 April 2020, all SDRs will be cancelled and exchanged for shares in a Swedish group entity that, following completion of the Scheme of Arrangement, will constitute the new parent company of the Vostok New Ventures group.
On 24 April 2020, the Company applied to the Supreme Court of Bermuda for an order sanctioning the convening of the Scheme Meeting, as required under Bermuda law. The order was issued on 27 April 2020.
SDR holders may vote at the Scheme Meeting in person or by a duly authorised representative if a corporation, or may appoint the Chairman of the Scheme Meeting or another person, whether an SDR holder or not, as proxy to attend and vote in its place. Further instructions are included in the explanatory statement and the proxy form held available on the Company’s website.
Indicative timetable
If the Scheme Meeting approves of the Redomestication, the Company will apply to the Supreme Court of Bermuda for an order sanctioning the Redomestication by way of scheme of arrangement (the “Sanction Hearing”). The Board of Directors estimates that the Redomestication can be completed within four weeks of the Sanction Hearing, which in turn is expected to take place one to four weeks after the Scheme Meeting approves the Scheme of Arrangement, assuming that all other conditions to the consummation of the Scheme of Arrangement are satisfied at such time. The Company will keep the SDR holders updated on any changes to this indicative timetable.
Conference call
The Managing Director Per Brilioth and the Company’s management will present the Redomestication and the considerations thereto on a conference call on 29 April 2020, held in connection with the presentation of the Company’s Q1-report. The participants will be given opportunity to ask questions. Further information and call-in details are provided in the press release announced on 22 April 2020.