RUSAL completes the redomiciliation process
Moscow, September 25, 2020 – RUSAL (SEHK: 486; Moscow Exchange: RUAL), a leading global aluminium producer, announces that it has been registered as a new resident of the Special Administrative Region (SAR), on the Oktyabrsky Island in the Kaliningrad Region.
The Special Administrative Regions were created in Russia in 2018 and operate on the Russky Island (Primorsky Krai) and the Oktyabrsky Island (Kaliningrad region). The registration of foreign legal entities is carried out through the management companies JSC "Corporation for the development of the Far East" and JSC "Corporation for the development of the Kaliningrad region". This is provided through the redomiciliation procedure.
"A significant part of RUSAL's production assets are located in Russia, so changing the country's jurisdiction to the Russian SAR is a logical step in terms of simplifying the management structure of the Company, which will retain its international status," said Chairman of the Board of Directors of RUSAL, Bernard Zonneveld.