PAO Severstal: Severstal announces its intention to cancel the listing of Global Depositary Receipts on the London Stock Exchange (1404205)
22 7월 2022 - 8:30PM
UK Regulatory
PAO Severstal (SVST) PAO Severstal: Severstal announces its
intention to cancel the listing of Global Depositary Receipts on
the London Stock Exchange 22-Jul-2022 / 14:30 MSK Dissemination of
a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS
Group. The issuer is solely responsible for the content of this
announcement.
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Severstal announces its intention to cancel the listing of
Global Depositary Receipts on the London Stock Exchange
PAO Severstal (MOEX: CHMF; LSE: SVST) ("Severstal") has sent
today a request to the Financial Conduct Authority ("FCA") and the
London Stock Exchange ("LSE") to cancel the listing of global
depositary receipts ("GDRs") issued in accordance with Regulation S
and Rule 144A and representing Severstal's ordinary shares (ISIN:
US8181503025 and US8181501045, respectively) on the Official List
of the FCA, as well as the request to cancel the admission of GDRs
to trading on the Main Market of the LSE.
Severstal also notified Citibank, N.A. of the termination of the
GDR Program and instructed Citibank, N.A. to terminate the
Depository Agreements as from the date no later than August 31,
2022 by sending a notice of termination to the holders of the GDRs
in accordance with the Depository Agreements and to take the
necessary actions pursuant to the Depository Agreements in
connection with such termination.
The decision to cancel the listing of the GDRs and to terminate
the GDR Program was driven by the introduction of a number of
sanctions restrictions against PAO Severstal, due to which the
maintenance of the Severstal GDR Program in accordance with the
Depository Agreements, as well as regular trading operations with
the Severstal GDRs are no longer possible.
Severstal expects that the cancellation of listing will take
effect on the 21st business day from the date of this
notification.
Severstal encourages GDR holders to contact Citibank, N.A.
directly, in accordance with the procedure provided for in the
relevant Depository Agreements, to discuss with Citibank, N.A.
possible options for exercising their rights, including the rights
to convert the GDRs into ordinary shares of Severstal. We also draw
the attention of the GDR holders that on 14 July 2022, the
provisions of Federal law No. 319-FZ dated 14 July 2022 came into
effect which contemplate conversion of depositary receipts
(including Severstal' GDRs) into shares of Russian issuers by
virtue of law automatically or upon request of GDR holders.
Severstal' GDRs held with Russian depositaries will be converted
into shares upon application of the issuer of shares within the
time and in a manner to be determined by the Bank of Russia.
Severstal' GDRs held with foreign depositaries may be converted
into shares directly upon the request of their holders which may be
submitted to Sberbank as Russian custodian by 12 October 2022.
We will regularly publish further updates on the developments
with respect to the GDR Program upon receipt of relevant
information.
Contacts of Citibank, N.A. for communication can be found at the
following link:
https://severstal.com/rus/contacts?contacts=investors
For further information, please contact:
Investor Relations Public Relations
Nikita Klimantov Anastasia Mishanina
T: +7 (495) 926-77-66 T: +7 (495) 926-77-66
na.klimantov@severstal.com anastasia.mishanina@severstal.com
***
P?? Severstal is a vertically integrated steel and steel-related
mining company, working with customers and partners to create new
products and integrated solutions from steel. The company's
production facilities are located in Russia. Severstal is listed on
MOEX (CHMF) and on the LSE (SVST). Severstal reported revenue of
USD11.6 million and EBITDA of USD6 bln in 2021. Severstal's crude
steel production in 2021 reached 11.6 million tonnes.
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ISIN: US8181503025
Category Code: MSCU
TIDM: SVST
LEI Code: 213800OKDPTV6K4ONO53
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 176687
EQS News ID: 1404205
End of Announcement EQS News Service
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(END) Dow Jones Newswires
July 22, 2022 07:30 ET (11:30 GMT)
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