NDC Board of Directors Proposes OJSC RTS Purchase of DCC Shares
OREANDA-NEWS. January 11, 2010. "The National Depository Center" (Closed Joint Stock Company) (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, announced today that its Board of Directors, at a meeting held 30 December, 2009 approved a proposal to OJSC RTS. The Board decision proposes that OJSC RTS buy all shares in DCC currently owned by NDC. The price of the stake would be based on DCC's net asset value in accordance with DCC's IFRS financial statements for 2009.
"The National Depository Center" (Closed Joint Stock Company) is the largest settlement depository in Russia, servicing the full range of debt and equity securities of Russian issuers. NDC provides storage of global certificates and depository accounting for 99% of corporate bond issues, sub-federal and municipal bond issues. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 99% of transactions conducted in the corporate and regional bond markets, and more than 99% of stock exchange transactions with equities and OTC trades. The international rating agency Thomas Murray has assigned NDC an АА- rating as a central depository. NDC is Russia's national numbering agency, and the substituting numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.
Among NDC’s shareholders are MICEX (50,1727% of shares), Bank of Russia (42,2997% of shares) as well as GPB (OJSC) (Gazprombank), Evrofinance Mosnarbank, “ROSBANK” (OJSC JSCB), JSC VTB Bank, Bank of Moscow, JSC "ROSSIYSKIY KREDIT BANK", Vnesheconombank, “ING BANK (EURASIA) ZAO”, CB “J.P. Morgan Bank International” (LLC), ZAO UniCredit Bank, Deutsche Bank Ltd, and Sberbank. NDC has stakes in Depository Clearing Company CJSC (37.29%) and in Settlement Depository Company CJSC (28.54%).