Moscow Exchange corporate restructuring includes MICEX and MB Technologies subsidiaries

A Moscow Exchange Extraordinary General Meeting of Shareholders on September 2 approved a corporate restructuring whereby 100%-owned subsidiaries CJSC MICEX Stock Exchange and MB Technologies LLC will be consolidated into Moscow Exchange.

MICEX Stock Exchange is the organizer of trading on Moscow Exchange’s Equity & Bond Market and Money Market.

MB Technologies offers technical access services for trading on Moscow Exchange’s Derivatives Market as well as co-location services at Moscow Exchange’s data centers.

CJSC MICEX Stock Exchange and MB Technologies LLC are part of Moscow Exchange Group’s unified trading, settlement and technological system. The restructuring will optimize the Group’s corporate structure, streamline customer relationships with Group companies and reduce costs both for customers and for the Exchange.

As required by applicable law, shareholders who did not vote on the restructuring or voted against it may tender their shares for repurchase by the Company. The Supervisory Board, based on recommendations of an independent appraiser, set the price for the buyback at RUB 106 per share. The average price per share in H1 2016 was RUB 101.98.

In relation to the corporate restructuring, shareholders also approved a new version of Moscow Exchange’s Charter that transfers to the Exchange listing services and securities trading organiser services, as well as certain information services provided by MICEX Stock Exchange and MB Technologies.

The restructuring will require no additional action on the part of issuers, customers or other counterparties. Following the restructuring, Moscow Exchange will become the full-fledged legal successor of the consolidated companies and acquire all their rights and responsibilities under existing contracts and other obligations.

The Exchange will complete substantial corporate restructuring procedures by the end of 2016.


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