The Bank of Russia has approved the state registration of MMC Norilsk Nickel's decision to split its share stock 1 to 100.
As a result of the split, one ordinary share with a nominal value of RUB 1 will be converted into 100 ordinary shares with a nominal value of RUB 0.01 each.
The conversion will rely on the data effective as of the day of conversion and sourced from the records in accounts opened by the registrar responsible for the register of Nornickel’s shareholders. Pursuant to the company's decision, the shares will be converted on the tenth business day from the date of state registration of amendments to the resolution on the issuance of shares, i.e. on 4 April 2024.
Earlier, an Extraordinary General Meeting of Shareholders (EGM) voted to split the Company’s ordinary shares in order to increase their appeal to Russian investors and improve their liquidity on the Moscow Exchange.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
