2023-07-31 13:30:53
Depositary receipts of the United Medical Group, which is the parent structure of the network of medical clinics “EuroMedCenter”, as of 15:25 Moscow time, soared on the Moscow Exchange by 31.4%, to ₽959.9. By 16:11 Moscow time, growth slowed down to 24.51%, the price of one security amounted to ₽909.6.
Quotes rushed up against the background messages on holding an extraordinary general meeting of shareholders on August 31, which will discuss re-domiciliation (re-registration) to a special administrative region on Oktyabrsky Island in the Kaliningrad Region.
Special Administrative Regions (SAR) are territories with a flexible tax regime for companies that have decided to transfer from foreign jurisdiction to Russian. They were created on Russky Island in the Primorsky Territory and Oktyabrsky Island in the Kaliningrad Region.
The closing date for the register of shareholders who will be able to take part in the meeting is July 31. This means that it was necessary to buy receipts on the Moscow Exchange no later than July 30th. Holders of depository receipts must submit their decision to the depositary bank by 24 August.
In the investment bank “Sinara” notedthat “moving” to Russia may in the future allow the company to return to the payment of dividends. This should support the investment attractiveness of securities, analysts added.
After the payment of interim dividends for the first half of 2021 in the amount of €0,4269 per share, the company has suspended the distribution of profits to shareholders.
United Medical Group’s dividend policy allows for up to 100% of the group’s accumulated consolidated IFRS net income to be used as dividends.
“The reaction to the news about the redomiciliation is indicative, in the near future other companies may announce plans to move,” noted in BCS World of Investments.
The brokerage company clarified that from this point of view, the most interesting papers are Etalon, TCS Group, HeadHunter and Raspadskaya (in case of re-registration of Evraz, which has a controlling stake in Raspadskaya).
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