Public Joint Stock Company Mostotrest (MISX:MSTT) announced the spin-off of Roads & Bridges JSC on March 12, 2020. Under the terms of transaction, shares of the Roads & Bridges JSC will be distributed among the shareholders of Mostotrest PJSC pro rata to the number of shares they are holding as per the shareholder register as of the date of registration of Roads & Bridges JSC. Vladimir Vlasov will be the Chief Executive Officer and new Board of Directors of the Roads & Bridges are Gennady Bogatyrev, Vladimir Vlasov, Leonid Dobrovsky, Valery Dorgan, Andrei Konnykh, Vladimir Monastyrev and Igor Urmanov. The transaction is subject to customary closing conditions, including shareholders’ approval of Mostotrest. As on May 18, 2020, shareholders of the Mostotrest voted in favor of spin-off.