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Highland Gold plans series of restructurings under presidential decree

Earlier, Russian President Vladimir Putin signed a special order that authorizes a transaction to acquire 100% of the shares of the international company Highland Gold, owned by Highland Gold Mining Limited

MOSCOW, March 19. /TASS/. Highland Gold group planned a number of intra-group restructurings that fall under the regulation of the decree of the Russian President, the company’s press service told TASS.

"The group was planning a number of intra-group restructurings under the regulation of Presidential Decree No. 520," the press service said, answering a question about 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.

Earlier, Russian President Vladimir Putin signed a special order that authorizes a transaction to acquire 100% of the shares of the international company Highland Gold, owned by Highland Gold Mining Limited.

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 deals with securities of Russian companies owned by them, including the fuel and energy complex and production sharing agreements. Transactions are possible only with special permission.

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