Prosus N : Directors resign from VK board

Directors resign from VK board

Prosus is extremely concerned about the continued conflict. It is in the world's interest to find a solution that provides an immediate de-escalation and secures long-term peace and stability in the region and beyond. Our primary concern is the well-being of our employees and we continue to support all of our people in the region.

Over the last week, international sanctions have been imposed on many Russian entities and individuals. These include sanctions on the CEO and indirect shareholders of online platform VK Group, in which Prosus holds a minority stake. As a consequence of these sanctions,Prosus asked its directors on the VK Board to resign their positions.

We expect to write down the full carrying value of the VK asset, of approximately US$700m in the current reporting period.