Amtel-Vredestein EGM Approves Sibur Holdings Reverse Takeover

The planned reverse takeover transaction between Amtel-Vredestein and Sibur Holding, which would see the former company purchase all issued and outstanding shares Sibur Russian Tyres before the latter purchases the resultant enlarged company, has been approved during Amtel-Vredestein’s Extraordinary General Meeting of Shareholders.

Specifically, Amtel-Vredestein reports the following approved resolutions:

The acquisition of all the issued and outstanding shares of OJSC Sibur-Russian Tyres from Sibur Holding or another company in consideration for the issue of up to 159,324,207 new ordinary shares in the resultant company; and the private placement of new ordinary shares in the company for up to US$150,000,000, including the deposit of further company shares into the Amtel GDR Facility and the subsequent listing on the Official List and the admission to trading on the London Stock Exchange of the new Amtel GDRs.