Cian Plc files request with Cypriot regulator for redomiciliation to Russia, consideration will take up to a month

MOSCOW. Aug 20 (Interfax) - Cian Plc, the former holding company of the Cian classifieds service, filed a request with the Cypriot regulator for redomiciliation to Russia on August 18, the company said.

"Generally, consideration of such an application takes about 3-4 weeks from the moment of its filing," Cian said.

Shareholders approved the redomiciliation of the legal entity in spring this year.

As reported, the redomiciliation of Cian Plc involves the subsequent automatic and compulsory conversion of its receipts into shares of the redomiciled company.

After the conversion, Cian may consider options for an additional exchange of shares of the redomiciled Cian Plc for shares of the current holding company, ICPJSC Cian.

Following the redomiciliation of Cian Plc, the group's management intends to submit the issue of paying special dividends for consideration by the board of directors. Their preliminary amount, as previously reported and which is now confirmed, may exceed 100 rubles per share.

Last year, the Cian group initiated a restructuring, under which Seychelles-registered Cian Technology Ltd became the owner of 69.94% of Cian Plc. Cian Technology Ltd became the new holding company, redomiciled to Russia, and continued operations as ICPJSC Cian. The company then obtained public status, and its shares have been trading on the Moscow Exchange since April 3.

It was reported that the redomiciliation of Cian Plc to Russia would open the possibility for declaring and paying dividends.

In early August, the group completed the redomiciliation of two more legal entities - Mimons Investments Ltd. and Fastrunner Investments Ltd., which continued operations as Mimons Investments ICLLC and Fastrunner Investments ICLLC, respectively.