ALROSA July 24, 2020 - Yakutsk Stock Center registrar registered the transfer of ownership of the shares in JSC NPF Almaznaya Osen from PJSC ALROSA to JSC NPF GAZFOND Pension Savings on July 20, 2020.
As a result of the transaction, 99.75% of shares in NPF Almaznaya Osen became the property of NPF GAZFOND Pension Savings. After the transaction close, the shareholders entered into a shareholder agreement. It imposes three year ban on the Fund's takeover or affiliation without all shareholders' approval, and the right of a shareholder owning the remaining 0.25% of shares in the Fund to participate in the work of the Board of Directors of the Fund. Upon the expiration of the specified period, the major shareholder will buy out the remaining shares and become the sole shareholder of the Fund.
A special condition has been introduced into the competence of the Board of Directors of the Fund, stating that decisions on the investment policy, investment strategy, investment declaration of the Fund require the unanimous consent of all Board members.
In December 2019, ALROSA Supervisory Board decided to sell the Company's shares in the Non-State Pensionary Fund Almaznaya Osen. The sale of a non-core asset from a diamond-mining company to a professional market participant will accelerate a further development of the Fund for the benefit of its clients, being mostly employees and veterans of the Company, and provide ALROSA with a positive economic effect.
The change of the majority shareholder does not affect Almaznaya Osen.'s clients 'As before, the Fund will stay in close cooperation with ALROSA group enterprises. The sale of ALROSA's shares in the Fund does not affect its obligations before the clients, the majority of whom are the diamond miner's current and former employees. All mandatory pension insurance and non-state pension provision agreements will be fully operational according to the law. It applies to all agreements without exception, not only those signed earlier but also those that will be signed in the future. As for me, I will continue keeping my retirement savings in Almaznaya Osen,' said ALROSA CEO Sergey Ivanov.
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ALROSA PJSC published this content on 24 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 July 2020 10:10:05 UTC
