“If the court satisfies the lawsuit, this will entail certain risks for shareholders and beneficiaries of the company,” the company said
MOSCOW, March 29. /TASS/. The Russian Ministry of Industry and Trade has filed an application to court to suspend corporate rights of the Netherlands-based X5 Retail Group N.V. to its Russian subsidiary, the company said.
“The Ministry of Industry and Trade of the Russian Federation notified the company about the application to the Arbitration Court of the Moscow Region to suspend corporate rights of the company in respect of its Russian subsidiary Corporate Center X5,” the company informed.
“If the court satisfies the lawsuit, this will entail certain risks for shareholders and beneficiaries of the company,” X5 said. “Certain holders of X5 depositary receipts will probably not be able to take part in procedures stipulated by law or will face significant difficulties when doing so,” the company added.
Source: Tass