EAHCISS News (English)

Earlier we reported on the extended deadline (until December 31st 2026) for the share distribution by Rusagro ( https://news.eahciss.org/2026/02/friendly-shareholders-of-cypriot.html?m=1 ).  In our previous post we also shared our legal analysis that holders of depositary receipts from jurisdictions unfriendly to Russia are not legally able to participate in the share distribution during the extended period.  Rusagro has confirmed to EAHCISS that they share this legal interpretation: "Under paragraph 21 of Article 7 [of Federal Law 470-FZ of the 4th of August 2023], it is correct that residents of unfriendly countries do not have the right to receive shares of PJSC Rusagro Group." However, in all the documents published by Rusagro ( https://www.rusagrogroup.ru/en/investors/news-events/press-releases/single-view/article/1421/ ) Rusagro seems to apply the same criteria as during the first period of the share distribution and provide the impression that holders of depositary rec...

For various Russian companies the shareholder rights of the western holding company were suspended under the ESO-law (ESO is an acronym for Economically Significant Organization; the relevant law is Federal Law No. 470-FZ of 04.08.2023 "On the Specifics of Regulation of Corporate Relations in Business Entities That Are Economically Significant Organizations"). Normally shareholders in the western holding then have a 3 to 4 month period to apply to receive shares in the Russian entity. For Rusagro this period ended on the 28th of December 2024. In July 2025 new amendments to Federal Law No. 470-FZ were adopted. The newly introduced parts 20-22 of article 7 now allows for Russians and investors from jurisdictions friendly to Russia to apply for shares in the Economically Significant Organization until the end of the suspension of corporate rights of the western holding company. This is mandatory for Russians. Rusagro requested the Moscow court to extend this period until the 31...