Freedom Holding Russian divestiture approved and completed

The company states: "The previously announced sale of the Russian subsidiaries of Freedom Holding Corp. has been approved by the Central Bank of the Russian Federation and the sale has been completed, the company announced today. As previously disclosed, the company’s Russian subsidiaries have been sold to Maxim Povalishin, the Deputy General Director and a member of the Board of Directors of Freedom’s Russian subsidiary IC Freedom Finance LLC. As a result of the deal, which closed following the approval of the Central Bank of the Russian Federation, Freedom Holding Corp. has now completely divested its businesses in the Russian Federation. On October 17, 2022, Freedom Holding Corp. entered into an agreement for the sale of 100% of the shares of IC Freedom Finance LLC together with its subsidiary Bank Freedom Finance LLC, to Mr. Povalishin for approximately $140 million, comprised of cash in an amount of approximately US$33 million and the assignment of a liability in the amount of approximately US$107 million, subject to Central Bank of Russia approval."