Statement by Laserta's director Vladimir Simonov

Below is a summary of what Vladimir Simonov said in the t.me/bondsbelarus chat:

“I have important news: we are reorganising, and by 1 April all accounts will move to a new legal entity with the same fees (just as obligations previously moved from the old Laserta to Promreestr, which became Laserta). We are handing all assets over to partners because in the second quarter we are launching a new service: https://finance.tut.by/news723190.html

This is related, among other things, to the changes in July (note: from July the rules on FX bond issues become stricter), after which there is no point in continuing as a monoline business. Developing further while investing in marketing and development, with restrictions on capital adequacy, receivables, payables and the gap between borrowed funds and equity, does not look efficient.

All brokerage transactions will move to WestBusinessGroup and depository services to CJSC ZFB. By the end of the year we will completely exclude professional activity when buying bonds and move to new scenarios.

There will be no upheaval, but unfortunately our legislation does not provide for a smooth transition, so we will take a few days to prepare the transfer. The office in Minsk will remain. We have no tax arrears. Remote onboarding remains, and custody will stay free.”

Translated from Russian. First published in the “Belarusian Issuers” Telegram channel. Charts and screenshots are in Russian. This is not investment advice.