FTSE Russell Evraz (6668A)
February 03 2022 - 12:59PM
UK Regulatory
TIDMEVR
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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END
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February 03, 2022 12:59 ET (17:59 GMT)
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