07 Mar 2022
Directors resign from VK board
Prosus is extremely concerned about the continued conflict. It is in the world’s interest to find a solution that provides an immediate de-escalation and secures long-term peace and stability in the region and beyond.
Directors resign from VK board
Prosus is extremely concerned about the continued conflict. It is in the world’s interest to find a solution that provides an immediate de-escalation and secures long-term peace and stability in the region and beyond. Our primary concern is the well-being of our employees and we continue to support all of our people in the region.
Over the last week, international sanctions have been imposed on many Russian entities and individuals. These include sanctions on the CEO and indirect shareholders of online platform VK Group, in which Prosus holds a minority stake. As a consequence of these sanctions, Prosus asked its directors on the VK Board to resign their positions.
We expect to write down the full carrying value of the VK asset, of approximately US$700m in the current reporting period.
About Prosus
Prosus is a global consumer internet group and one of the largest technology investors in the world.
Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.
The group is focused on building meaningful businesses in the online classifieds, food delivery, payments and fintech, and education technology sectors.
Through the Prosus Ventures team, the group invests in new technology growth opportunities within logistics, fintech, health, blockchain, social and ecommerce platforms, agriculture and more.
The team actively backs exceptional entrepreneurs using technology to improve people's everyday lives.
Each month, over two billion customers across the globe use the products and services of companies that Prosus has invested in, acquired or built.