How to inherit shares?

Like other inherited property in Russia, share ownership is registered under the Russian legislation.

STEP #1:

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:

  • Status (AO) (Location: 32 building 1 Ulitsa Novorogozhskaya, Moscow, 109544)

or

  • IDGC of Urals (OАО) (Location: 140 Ulitsa Mamina Sibiryaka, Ekaterinburg, 620026; RE:Corporate Governance and Shareholder Relations Department).

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.

STEP #2.

Once procedures described in STEP#1 are completed, a heir should choose any of the following ways:

  1. To pay a personal visit to any branch of the registrar and hand over passport and certificate/ court decision to the registrar staff. A heir shall also open an account, prepare an order for the transfer of shares and pay for registrar/ depositary services according to the tariffs; or
  2. To arrange a visit to any branch of the registrar of a duly authorized representative of a heir. A proxy, passport and certificate/ court decision should be handed over by the representative to the registrar staff. The representative shall also open an account, prepare an order for the transfer of shares and pay for registrar/ depositary services according to the tariffs; or
  3. To forward to the registrar notarized documents required to prepare an order for the transfer of shares and pay for registrar/ depositary services according to the tariffs.

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.

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