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Cherkizovo Group (CHE)
Cherkizovo Group - intended cancelation of GDR listing
14-Nov-2017 / 18:00 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
PJSC Cherkizovo Group - intended cancelation of GDR listing
14 November 2017
PJSC Cherkizovo Group (LSE: CHE/MOEX: GCHE) (the "Company") today announces
its intention for global depositary receipts representing interests in the
Company's ordinary shares (the "GDRs") to be removed from the Official List
of the United Kingdom Listing Authority ("UKLA") and for the trading of the
GDRs on the Main Market of the London Stock Exchange to be cancelled.
Having considered the limited trading liquidity of its GDRs on the London
Stock Exchange, and as part of the Company's new capital markets strategy,
the Company has decided to consolidate the free-float and trading of its
ordinary shares on the Moscow Exchange, as well as reduce the Company's
administrative and reporting costs. In the context of its new capital
markets strategy the Company is also evaluating a range of alternatives
available to it, including a potential equity offering of ordinary shares on
the Moscow Exchange.
In this regard the Company has today signed an amendment to the Deposit
Agreement entered into with The Bank of New York Mellon (the "Depositary")
on 14 February 2011 (the "Deposit Agreement"), removing an undertaking
requiring the Company to maintain a listing of the GDRs on the London Stock
Exchange. Pursuant to the terms of the Deposit Agreement, such amendment
will become effective upon the expiry of three months from the date the
Depositary has given notice thereof to the holders of the outstanding GDRs.
Such notice to GDR holders has been given by the Depositary today and will
expire on 15 February 2018.
The Company has also submitted an application to the UKLA today to (i)
cancel the standard listing of its GDRs on the Official List of the UKLA and
(ii) to the London Stock Exchange for trading in the Company's GDRs on the
Main Market of the London Stock Exchange to be cancelled (together, the
"Cancellation").
The last day of trading in the GDRs on the London Stock Exchange is expected
to be 14 February 2018.
The Cancellation is expected to take effect at or about 8:00 a.m. on 15
February 2018.
The Company's current intention is that the GDR programme will remain
operative for a limited period following the Cancellation, with a view that
it may be terminated thereafter. The Company will make further announcements
in connection with the GDR programme in due course.
The existing listing of the Company's ordinary shares on the Moscow Exchange
under the symbol "GCHE" will continue.
***
For more information please visit http://www.cherkizovo.com or contact
Anatoliy Vereschagin
Managing Partner
Progress Communications Agency
+7 965 334 34 34
av@progresspr.ru
About Cherkizovo Group
Cherkizovo Group is the largest meat and feed producer in Russia. The Group
is a top-3 producer in each of the Russian poultry, pork and processed meat
markets and is the largest feed manufacturer in the country. Cherkizovo
Group encompasses eight full cycle poultry production facilities, 15 modern
pork production facilities, six meat processing plants, eight feed mills and
more than 287,000 hectares of agricultural land. The Group also includes
Tambov Turkey facility, a joint Russian-Spanish venture. In 2016, Cherkizovo
Group produced 903,000 tonnes of meat and meat products. Thanks to its
vertically integrated structure, which includes grain growing and storage,
feed production, livestock breeding, fattening and slaughtering, and meat
processing, alongside a distribution system, the Group has delivered
long-term sales growth and profitability.
ISIN: US1641452032
Category Code: SRS
TIDM: CHE
LEI Code: 2534005AEG6WJ1WNUF73
Sequence No.: 4849
End of Announcement EQS News Service
629243 14-Nov-2017
(END) Dow Jones Newswires
November 14, 2017 12:00 ET (17:00 GMT)
