MOSCOW, July 26. /TASS/. Globaltrans plans to redomicile from Cyprus to the free economic zone, Abu Dhabi Global Market (ADGM), the company reported on Wednesday. A respective proposal will be considered at an Extraordinary General Meeting of shareholders on August 16.

"The main business on the agenda for the EGM is to consider and, if thought fit, approve the start of the process to re-domicile Globaltrans Investment PLC from Cyprus to the Abu Dhabi Global Market (ADGM) by passing all the respective resolutions as indicated in the agenda of the EGM," the statement reads.

The proposed re-domiciliation is driven by the need to address the limitations of Globaltrans’ current corporate structure, the company said. Meanwhile Globaltrans intends to maintain the current listings of its securities on both the London Stock Exchange and Moscow Exchange.

Globaltrans Investment PLC is a leading freight rail transportation group with operations across Russia, Belarus, Ukraine, Kazakhstan and other countries.