The TCS Group holding, which includes Tinkoff Bank and an insurance company, plans to carry out relocation (one of the forms of reorganization of the legal entity is the change of jurisdiction (the country of its registration and the legal address of the company – note “socialbites.ca”) from Cyprus to Russia. This is in the reports Interfax.
According to the publication, the relevant issue will be discussed at the extraordinary shareholders’ meeting to be held on January 8, 2024. Earlier, Chairman of the Board of Directors of Tinkoff Bank Stanislav Bliznyuk had already announced plans for the re-registration of the holding in Russia. In November, to simplify the procedure, TCS Group changed its constitution and reduced the composition of the board of directors to three members.
According to the updated bylaws, a quorum of only two directors is now sufficient to make decisions. Thus, TCS Group actually simplified the approval procedure of such an important issue.
The intention to carry out the resettlement became clear in November. Analysts then assumed that Tinkoff was trying to protect himself from possible new sanctions by entering Russia’s jurisdiction.
Before that Bank of Russia stated about the risks of investing in semi-Russian companies.
Putin before in the name Increasing the number of shares of Russian companies on the stock exchange.