PIK Board Approves Delisting, Sets Buyout Price
The board of directors of PIK approved the delisting of its shares from the stock exchange and set the buyout price for minority shareholders at 551.4 rubles per share, with a special shareholder meeting scheduled for October 13. The decision follows a major shareholder's notification of its right to acquire remaining shares.
Consensus
- The board of directors of PАО 'PIK-Specialized Developer' unanimously approved the delisting of shares from the stock exchange.
- The board recommended setting the buyout price for shares of minority shareholders at 551.4 rubles.
- The issue of delisting will be put on the agenda of an extraordinary shareholder meeting on October 13.
- The major shareholder, AO 'Real Estate Assets', owns more than 98% of the company's shares.
- The buyout price is based on an offer previously made by the major shareholder in April.
- The registration date for shareholders eligible for the buyout is set for October 20.
- The company will publish a notice of the buyout on its website and information disclosure page within 15 days of receiving the request.
Points of divergence
- The buyout price was set at 537.9 rubles per share. — vesti
- The buyout price was set at 551.4 rubles, but the stock dropped 4.66% to 548.3 rubles on September 4. — vm
- The board voted for delisting at a price of 551.4 rubles and recommended ceasing public status and filing with the Central Bank of Russia to be exempt from disclosure obligations. — vedomosti
- The price of 537.9 rubles was corrected due to a technical error, and the final price is 551.4 rubles. — kommersant
- The Central Bank of Russia intervened in the pricing of the April offer, requiring it to be no lower than the average market price over the past six months. — interfax
Coverage (9 sources)
- The Board of Directors of PIK Decided to Remove Shares from Trading on the Exchange — Вести
- Board of Directors of Developer PИК voted to delist shares from the exchange — Вечерняя Москва
- Board of Directors of "PIK" approved delisting of shares — Ведомости
- Board of Directors of PJSC "PIK-SZ" Decided to Delist Shares from Exchange, According to Company Message on Disclosure Website... — ТАСС (Telegram)
- The Board of Directors of PIK set the buyback price for shares at delisting — Коммерсантъ
- The Board of Directors of PIK will discuss the removal of shares from the Moscow Exchange — Коммерсантъ
- PIK shares plummeted after news of planned delisting — Вести
- The Board of Directors of PIK will consider the issue of delisting the company's shares — Ведомости
- PIK will delist — Интерфакс