RBC gives preliminary timeline for swapping shares in RBC Information Systems for shares in RBC-TV Moscow
Moscow, September 23, 2010. â€” Today, OAO RBC Information Systems (hereinafter referred to as the Company) notifies its shareholders of the next steps in the process of swapping shares in RBC Information Systems for shares in RBC-TV Moscow.
As a result of the successful completion of the financial debt restructuring process and internal legal reorganization of RBC Group, and with the deal with ONEXIM Group involving the acquisition of 51% in RBC-TV Moscow now closed, RBC is ready to announce the holdingâ€™s next moves towards swapping 100 percent in RBC Information Systems for 49 percent in the new holding company.
Below is a timeline of the steps that the Company and RBC-TV Moscow need to take in order to make the share swap possible:
|1.||Registration of the securities issue for the share split of RBC-TV Moscow||29 October|
|2.||Registration of the report on the share split of RBC-TV Moscow||22 November|
|3.||Admission of RBC-TV Moscow (non-listed) shares to trading||29 November|
|4.||Publication of a detailed instruction for the Companyâ€™s shareholders||29 November|
|5.||The beginning of the Companyâ€™s share swap for shares in RBC-TV Moscow||1 December|
The specified timeline is only tentative and is subject to the timely receipt of the necessary approvals from governmental authorities.
Just as it did during the debt restructuring, the Company will provide its shareholders with a detailed action plan, which includes a list of necessary documents, legal form of the swap, and step-by-step instructions, so that all the shareholders can familiarize themselves with the swap procedure, clarify the details of this process and prepare the necessary set of documents. In addition, all information will be available at www.rbcinfosystems.ru and restruct.rbc.ru.