OREANDA-NEWS. June 23, 2011. Russia’s Federal Financial Markets Service has registered the report on the additional issue of common shares in the MICEX. The goal of the additional issue of shares was to exchange them for shares in the MICEX Stock Exchange. The MICEX now holds almost 100% (99.998%) of shares in the MICEX SE. Thus, the MICEX Group has completed conversion to a single share.

At an extraordinary meeting, held on March 10, 2011, the MICEX shareholders decided to increase the authorized capital by placing additional common shares in exchange for shares in the MICEX Stock Exchange. As a result of the additional issue, the authorized capital of the MICEX increased by 28.77%.

Conversion to a single share was a step-by-step process. In 2009, having purchased the portfolio of the National Clearing Centre, the MICEX became 100% shareholder of the NDC. In August 2009, Non-Profit Partnership The National Depository Center was transformed into a joint-stock company, which was a prerequisite for the subsequent merger into a unified unit within the MICEX Group providing settlement of securities and money. Then, in November 2010, the NDC joined the MICEX Settlement House, which resulted in the creation of Russia’s first settlement depository, the National Settlement Depository. In the course of this corporate procedure, the MICEX increased its stake in the National Settlement Depository to 99.961%.

According to the MICEX President Ruben Aganbegyan, “with the completion of the consolidation of ownership of the MICEX Stock Exchange we have fulfilled the task of converting to a single share. This task was set by the MICEX Group’s shareholders in 2009 in the framework of the MICEX Group’s Development Strategy for 2009–2011.”