REG - FTSE Russell Evraz Plc - Evraz

EvrazAnnouncement

03/02/2022 18:00

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RNS Number : 6668A  FTSE Russell  03 February 2022

 

Evraz (UK): Stock distribution of Raspadskaya (Russia)

Informative Notice

03 February 2022

 

FTSE Russell notes the announcement by Evraz (UK, B71N6K8, FTSE 100 Index,
GEIS Mid Cap) relating to the distribution of shares held in Raspadskaya
(Russia, B5800Q2, GEIS Mid Cap).

In the distribution, eligible Evraz shareholders can elect to receive
0.4255477880 Moscow Exchange listed Raspadskaya shares for every share held.
Shareholders who do not participate in the election will be deemed to be
incapable of holding the Raspadskaya shares and will instead receive cash
proceeds through a share sale facility, whereby Evraz will sell the
Raspadskaya shares before 06 October 2022, and non-elect shareholders will
ultimately receive the net cash proceeds (payment expected before 04 November
2022).

Evraz is expected to trade ex-entitlement to the distribution on 14 February
2022, with the election deadline to receive shares on 15 March 2022.
Accordingly, it will be unknown on, or in advance of the ex-date, how many
shares will be distributed to eligible shareholders and how many will be
retained by the company and sold between the ex-date and the 06 October 2022.

Based on the current timetable, FTSE Russell intends to assume non-election
and implement the event as a capital repayment to Evraz on the ex-date, with
the amount based on the Moscow Exchange close price of Raspadskaya converted
using the 4pm WM rate on the cum date (i.e. from 11 February 2022 close). FTSE
Russell will apply a further adjustment via a negative or positive capital
repayment once the finalised value attributed to the share sale facility is
confirmed, effective on the business day following discovery.

The investability weight for Raspadskaya will be assessed during the quarterly
review schedule based on any updates to the published shareholder structure,
when available.

 

The event will be confirmed through the tracker files in due course.

 

 

 For further information please contact FTSE Russell Client Services at
 info@ftserussell.com or call:

Australia  +1800 653 680
 Hong Kong  +852 2164 3333
 Japan      +81 3 4563 6346
 London     +44 (0) 20 7866 1810
 New York   +1866 551 0617

 

 Alternatively please visit our website at www.ftserussell.com

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Alternatively please visit our website at www.ftserussell.com

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