Like other inherited property in Russia, share ownership is registered under the Russian legislation.
To gain a right to inherit shares of the Company you should visit a notary (in cases when a shareholder passed away less than 6 months ago) or a court nearest to the place of residence of the shareholder/ancestor (in cases when a shareholder passed away more than 6 months ago) and obtain a certificate of right to inherit shares and dividend by law or court decision.
A notary or judge, upon an application from a heir, death certificate and one of the documents evidencing the right of a dead relative for shares (an extract from the shareholder register or voting papers forwarded to the shareholder by the Company) shall open up an inheritance case. A notary (judge) should forward a query regarding the exact amount of shares and dividends on an ancestor’s account to:
A query should be in Russian and should be filled in as a special form. A notary (judge) should fill in full name, location and other known data required for shareholder identification. A signature on the query should be certified by a round stamp.
Once such information is obtained, a notary shall prepare a certificate of right to inherit shares and dividend by law/ a judge passes a corresponding judgment.
Once procedures described in STEP 1 are completed, a heir should choose any of the following ways:
Once STEP 2 is completed, the name of a heir will replace the name of a deceased ancestor in the shareholder register. A new shareholder may accept succession and manage the shares (visit GSMs, collect dividends or sell shares) only after completing the described procedure.