Fix Price Group PLC, US33835G2057

Fix Price Group PLC / US33835G2057

19.07.2024 - 18:10:05

Fix Price Group PLC: Strategic update for Fix Price investors

Fix Price Group PLC (FIXP)


19-Jul-2024 / 19:10 MSK



STRATEGIC UPDATE FOR FIX PRICE INVESTORS   19 July 2024 – Fix Price (LSE and MOEX: FIXP, AIX: FIXP.Y, “Fix Price”, the “Company” or the “Group”), one of the leading variety value retailers globally and the largest in Russia, informs on the strategic update for Fix Price investors, following the announcement made today on its intention to remove its ISIN US33835G2057 and ISIN US33835G1067 global depositary receipts, representing interests in the Company’s shares (the “GDRs”), from the Official List of the UK Financial Conduct Authority and to cancel the trading of GDRs on the Main Market of the London Stock Exchange with effect from 19 August 2024. Recently, the Company completed the re-domiciliation into the Astana International Financial Centre. The Company considered the current situation on the capital markets, including the suspension of the GDRs’ admission to trading on the LSE on 3 March 2022. Further, the Company plans to ensure compliance with the requirements applicable to issuers with the GDRs` primary listing on the Astana International Exchange. The Company continues to actively adapt to changing environment on the capital markets and remains committed to protecting the rights and interests of all of its shareholders. In particular, the Group is in the process of identifying the appropriate options to eliminate the key infrastructure impediments currently faced by its investors and minority shareholders, regardless of their jurisdiction. The Group considers, among other options, the listing of its key operating subsidiary and offering its minority shareholders an opportunity to transfer their holdings to such operational subsidiary. In addition, Fix Price considers various options allowing the maintenance of the GDR programme following the receipt of a resignation notice from its depositary bank The Bank of New York Mellon. According to the resignation notice, the Company has until 19 August 2024 to appoint a new depositary bank. At the moment, the Company is in the process of active negotiations with the successor depositary.    
About the Company Fix Price (LSE and MOEX: FIXP, AIX: FIXP.Y), one of the leading variety value retailers globally and the largest in Russia, has been helping its customers save money every day since 2007. Fix Price offers its customers a unique and constantly updated assortment of non-food goods, including personal care and household products, and food items at low fixed price points. As of 31 March 2024, Fix Price was operating 6,545 stores in Russia and neighbouring countries, all of them stocking approximately 2,000 SKUs across around 20 product categories. As well as its own private brands, Fix Price sells products from leading global names and smaller local suppliers. As of 31 March 2024, the Company was operating 13 DCs covering 81 regions of Russia and 8 neighbouring countries. In 2023, the Company recorded revenue of RUB 291.9 billion, EBITDA of RUB 53.1 billion and net profit of RUB 35.7 billion, in accordance with IFRS
CONTACTS   Fix Price Investor Relations Fix Price Media Relations EM
Elena Mironova ir@fix-price.com Ekaterina Goncharova pr@fix-price.com     fixprice@em-comms.com
 


Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


ISIN: US33835G2057
Category Code: MSCU
TIDM: FIXP
LEI Code: 549300EXJV1RPGZNH608
OAM Categories: 2.2. Inside information
Sequence No.: 335411
EQS News ID: 1950413

 
End of Announcement EQS News Service

fncls.ssp?fn=show_t_gif&application_id=1950413&application_name=news&site_id=trading_house_net~~~7efceac5-959a-43d6-afef-21ad42b6a5d4
@ dgap.de