PAO "TMK" (LSE: TMKS; MOEX: TRMK), one of the world's leading producers of tubular products for the oil and gas industry ("TMK" or the "Company"), has announced plans to delist from the London Stock Exchange. Earlier, TMK's Board of Directors approved the cancellation of the listing of its global depositary receipts on the London Stock Exchange, to be carried out following the completion of the buyback of TMK's ordinary shares.
TMK has announced a voluntary tender offer for its shareholders with a 31% premium to the closing price per ordinary share of the Company on the Moscow Exchange on 7 April 2020.
A message from management of BCS Global Markets
The continuously evolving nature of the global coronavirus situation has meant we at BCS Global Markets (BCS) are taking all necessary steps to keep business disruption to an absolute minimum.
Effective from today (Wednesday 18th March) employees from all divisions of the business based in our Russia, UK, USA and Cyprus offices who can work from home without creating any even minor possible risk for business continuity of the Group will be working remotely. It is very much business as usual at BCS. Our employees are equipped with secure access to our systems and will follow their normal working hours, keeping in regular contact with their colleagues and clients.
Despite ongoing disruption caused by COVID-19, we want to also assure you that following a sustained period of positive performance, our capital and liquidity position remains very strong. The business is well-placed to meet any subsequent financial challenges and will continue to go above and beyond for our clients.