MOSCOW, March 19. /TASS/. The Highland Gold Group was planning a number of restructurings that fall under the regulation of the decree of the Russian President, the company’s press service told TASS.

When asked why the company needed the president’s permission to acquire 100% of the shares of the international company Highland Gold, owned by Highland Gold Mining Limited, the press service said: "The group was planning a number of intra-group restructurings subject to the regulation of Presidential Decree No. 520."

Earlier, President Vladimir Putin signed as decree authorizing the acquisition of 100% of the shares of the international company Highland Gold, owned by Highland Gold Mining Limited.

The international joint-stock company Highland Gold is the holding company of the Highland Gold Group. Highland Gold Mining Limited is the parent company of the Highland Gold Group, registered on the island Jersey.

By decree of August 5, 2022, Putin banned a number of transactions relating to the participation of foreigners from unfriendly countries in Russian companies. The restriction applies to transactions with securities of Russian companies owned by them, including the fuel and energy sector and production sharing agreements. Transactions are possible only upon receiving a special permission from the Russian authorities.