Detsky Mir, a specialized retailer and the leading player in the children’s goods sector in Russia and Kazakhstan, has announced the interim results of its share repurchase program at the PJSC Moscow Exchange. The program, which took place from May 30 to June 30, saw JSC DMK repurchase over 7 million ordinary shares of PJSC Detsky Mir in the trading mode Redemption: Address orders.
The repurchase program allows resident shareholders to sell their shares at a price of 71.5 rubles per share by submitting an order at the PJSC Moscow Exchange. The repurchase is being carried out by Detsky Mir’s subsidiary, JSC DMK, and will continue until July 28, 2023.
One key advantage for shareholders participating in the share repurchase program is that they do not need to provide documents confirming the correct calculation of Income Tax to JSC DMK. The tax will be calculated by the broker during the sale of shares via broker in the Redemption: Addressed Orders trading mode. Additionally, the proceeds from the sale of shares will be transferred to the brokerage account on the same day as the transaction.
It is worth noting that shareholders who have received other offers under the share repurchase program, specifically voluntary offers by LLC DMI or JSC DMFA on May 29 and 30, 2023, respectively, are advised to provide documents on tax residency to the respective entities.
The results of the voluntary tender offers by LLC DMI and JSC DMFA will be published once the deadline for accepting voluntary tender offers has passed, following the required procedure.
Detsky Mir’s share repurchase program aims to provide an opportunity for shareholders to sell their shares at a favorable price and streamline the company’s shareholding structure. By repurchasing shares, the company can consolidate ownership and potentially increase shareholder value.
As the leading player in the children’s goods sector, Detsky Mir continues to strengthen its position by implementing strategic initiatives that benefit both the company and its shareholders. The share repurchase program is one such initiative that aims to optimize the company’s capital structure and enhance shareholder value.
To stay updated on the latest developments regarding the share repurchase program at PJSC Moscow Exchange, shareholders are encouraged to visit the official website of Detsky Mir or the PJSC Moscow Exchange.
In conclusion, Detsky Mir’s interim results of the share repurchase program demonstrate the company’s commitment to enhancing shareholder value and optimizing its capital structure. By repurchasing shares through its subsidiary JSC DMK, the company offers a favorable opportunity for shareholders to sell their shares while streamlining ownership. Shareholders are advised to take advantage of this opportunity and stay informed about the latest updates regarding the program.
