ALROSA CEO Sergey Ivanov on Thursday, April 2 reduced his stake in the Company.

The proceeds from the sale, more than RUB 18.5 mln, will be used to counter the spread of COVID-19 infection in Mirny district of Yakutia, where ALROSA operates.

‘Yesterday I sold half of my stake in ALROSA. All proceeds from the sale will be used to pay for medicines, medical and personal protection equipment for Mirny district of Yakutia. I understand that today is not an ideal moment for selling shares. However, under current circumstances the speed of procurement of scarce medical supplies becomes crucial. Paying from personal account makes purchasing easier and faster,’ noted Sergey Ivanov.

As a result, Sergey Ivanov’s stake in ALROSA decreased to 0.00415% from 0.0083%.