REG - Ros Agro PLC - Submission from the Ministry of Agriculture

Ros AgroAnnouncement

08/08/2024 08:15

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RNS Number : 7142Z  Ros Agro PLC  08 August 2024

ROS AGRO PLC announces that the Ministry of Agriculture of the Russian
Federation appealed to the arbitration court on suspension of corporate rights
of foreign holding company in relation to Rusagro Group PJSC

ROS AGRO PLC (hereinafter referred to as the "Company") announces that an
application to the Arbitrazh Court of the Moscow Region was submitted by the
Ministry of Agriculture of the Russian Federation to suspend an exercise of
Company's corporate rights in relation to its Russian subsidiary Rusagro Group
PJSC (hereinafter referred to as the "Subsidiary").

Based on the provisions of the Russian Federal law No. 470-FZ dated 4(th)
August 2023 "On the specifics of regulating corporate relations in business
entities that are economically significant organizations" (hereinafter
referred to as the "Law"), consideration of the claim after its acceptance for
proceedings by the court must take at least five days and no more than one
month from the date of acceptance of the claim.

If the Court satisfies the claim of the Ministry of Agriculture of the Russian
Federation, the exercise of corporate rights of ROS AGRO PLC in relation to
the Subsidiary will be suspended, the Company will lose the ability to vote at
shareholders' meetings and dispose of shares of the Subsidiary, as well as
qualify for dividend payments. In turn, the shareholders of ROS AGRO PLC will
have the opportunity for Subsidiary's shares distribution proportionally to
their indirect share in the capital of Rusagro Group PJSC.

More detailed explanations of the Court's decision possible consequences for
all interested parties are contained the text of the Law.

ROS AGRO PLC will continue to analyze the situation and take all necessary
actions to protect shareholders' rights. The Company will report on the
progress of the judicial proceedings and further developments in the public
space.

Rusagro Group's assets will operate in a standard mode.

 

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