Rusolovo · Investors and shareholders · Memorandum of Controlling Entity

Memorandum of Controlling Entity

Rusolovo PJSC publishes the Memorandum of Controlling Entity in accordance with Article 278 of Corporate Governance Code.*

Seligdar PJSC is the controlling entity of Rusolovo PJSC, which holds 97.79% of voting shares in Rusolovo PJSC.
Maximus LLC is the controlling entity of Rusolovo PJSC. The basis is indirect control (Maximus LLC holds 50,62% of voting shares in Rusolovo PJSC).
Rusolovo PJSC forms part of Seligdar Holding Company, which includes Seligdar PJSC, its subsidiaries and associates, as well as the companies managed by Seligdar PJSC (the “Holding Company”). The core business of the Holding Company entities is mining of ores and precious metal sands, tin ore, production and sale of gold and tin concentrate, exploration, management of holding companies.
Seligdar PJSC does not plan to change the core business or organizational and staff structure of Rusolovo PJSC. Decisions on future changes will be based on trends in the markets where Rusolovo PJSC operates, the Holding Company’s indicators and will be adopted solely for the benefit of all shareholders of Rusolovo PJSC.
Seligdar PJSC participates and intends to continue participating in nominating candidate members to the Board of Directors of Rusolovo PJSC, with membership being optimal for quality management of the Company.
Seligdar PJSC assures that where commercial relations exist between them and Rusolovo PJSC, they will rely on market principles.
The participation of Seligdar PJSC in the functioning of management bodies of Rusolovo PJSC is aimed, among other things, at building a dialogue with minority shareholders on company development prospects. Seligdar PJSC, as controlling shareholder, supports reasonable initiatives related to the protection of rights and interests of minority shareholders.
Seligdar PJSC gives priority in respect of Rusolovo PJSC to sustainable development and ensuring of stable growth of all key indicators of Rusolovo PJSC.

* The information contained in the Memorandum of Controlling Entity is not an offer, invitation to negotiate or any other binding obligation of the controlling entity.