24 Jul 2023
VEON files Form 20-F for financial year 2022 Amsterdam, 24 July 2023 22:00 CEST - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, today announces that it has filed its Annual Report on Form 20-F for the year ended December 31, 2022 (the Form 20-F ) with the U.S. Securities and Exchange Commission at www.sec.gov. The Form 20-F is also available on the Investor Relations section of the company's website www.veon.com.
As a result of its Form 20-F filing, VEON expects the Listing Qualifications Department of The Nasdaq Stock Market ( Nasdaq ) will confirm that it has regained compliance with the Nasdaq listing rules through the exception granted by Nasdaq for its delayed filing. The exception granted by Nasdaq was previously reported on Form 6-K on June 13, 2023 and stated that the Company needed to file its Form 20-F by October 30, 2023 to regain compliance with listing rules.
The Form 20-F filed today also contains a correction to VEON Ltd.'s financial statements for the year ended December 31, 2022 impacting other comprehensive income ( OCI ) but with no impact to total consolidated equity . After the issuance of VEON Ltd.'s Dutch statutory financial statements for the year ended December 31, 2022 filed on June 25, 2023 (the 2022 Dutch Annual Report ) and prior to the filing of the Form 20-F for the same period, the Company discovered an error with respect to the accounting treatment for the derecognition of its Algerian operations following the sale of the Company's non-controlling interest of US$ 824 million. The non-controlling interest was incorrectly derecognized in OCI, a component within equity, while it should have been derecognized directly in equity without an impact in OCI. This error has no impact on total consolidated equity. In accordance with IFRS and Dutch law, the Company will correct and disclose the error retrospectively in its half-yearly financial statements and subsequently in the full year 2023 Dutch statutory annual report.
Management has corrected this error in the Form 20-F and derecognized the non-controlling interest of $824 million related to the sale of VEON's Algerian subsidiary directly within equity in the consolidated statement of changes in equity , which results in an adjustment in the consolidated statement of comprehensive income. The error has no impact on the result on the sale of the Algerian operations as presented on the consolidated income statement and no impact on the consolidated income statement as a whole. Additionally, the error has no impact on the consolidated statement of financial position, consolidated statement of cash flows, basic and diluted gain/(loss) per share attributable to ordinary equity holders of the parent , Adjusted EBITDA , nor on VEON's financial covenants for its financing arrangements.
In light of this error, the Company's management has concluded that the Company has a material weakness in its internal control over financial reporting as of December 31, 2022 relating to accounting and financial statement presentation for disposals of businesses. Management is taking and will continue to take steps to remediate the material weakness and to strengthen the Company's control environment. Management has also concluded that as of December 31, 2022, the Company's disclosure controls and procedures were not effective. They reached this conclusion due to the presence of the material weakness in internal control over financial reporting. Refer to the Form 20-F for further details, including Item 15. Controls and Procedures and Note 24 to the consolidated financial statements in the Form 20-F.
Shareholders may request a hard copy of the Form 20-F, including VEON's audited financial statements for the year ended 31 December 2022, free of charge, by contacting VEON's Investor Relations Department at ir@veon.com.
About VEON
VEON is a global digital operator that currently provides converged connectivity and online services to over 160 million customers in six dynamic markets. We transform people's lives, empower individuals, create opportunities for greater digital inclusion and drive economic growth across countries that are home to more than 7% of the world's population. Headquartered in Amsterdam, VEON is listed on NASDAQ and Euronext Amsterdam, and has a broad investor base. For more information visit: https://www.veon.com.
Disclaimer
This press release contains forward-looking statements , as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events. Furthermore, elements of this release contain or may contain, inside information as defined under the Market Abuse Regulation (EU) No. 596/2014.
Contact Information
VEON
Investor Relations
Nik Kershaw
ir@veon.com
This website stores cookies on your computer. These cookies are used to improve vour website experience and provide more personalized services to you, both on this website and through other media. To find out more about the cookies we use, see our Privacy Policy
We wont track your information when you visit our site. But in order t
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
07/10/2026
Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
20/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
20/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
20/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
20/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
20/08/2026
IPC Expands Brazilian Presence with New Channel Partner CCATech
Industry veterans Carlos Abrah o and Bruno Lopes strengthen local support and expand IPCs prese...
20/08/2026
Zixi Enters Mauritius Market Through Strategic Deployment with MTC Jockey Club
Worlds Oldest Horse Racing Club in the Southern Hemisphere Selects Zixis Softwar...
20/08/2026
LA JOLLA, CA-Scripps Research assistant professor Tiantian Liu has received a five-year NIAID DP2 award from the National Institute of Allergy and Infectious Di...
20/08/2026
Audiences reveal appetite for multicultural Australia on-screen 20 August 2026
Dr Georgie McClean, Dr Rebecca Huntley (L-R)
By Dr Georgie McClean and Dr Rebec...
20/08/2026
How Mavis Studio Is Expanding Live Production Teaching at Sussex
Brie Clayton August 19, 2026
0 Comments
Hero image displays a student about to mix be...
20/08/2026
Vertical Unscripted Series Legal Queens Captured with Blackmagic Design
Brie Clayton August 19, 2026
0 Comments
Reality TV veteran Eric Gardner create...
19/08/2026
As the cost of IP nears price parity with traditional SDI, Reynolds argues that ...
19/08/2026
A private 5G bubble was chosen instead of traditional broadcast RF for the race ...
19/08/2026
(L-R) Rafael Manuel and Isabel Sicat attend the Filipi ana premiere during the 2026 Sundance Film Festival at The Ray Theatre on January 23, 2026, in Park Cit...
19/08/2026
Studio owners invited to have their say on rates cuts
The Music Producers Guild (MPG) are inviting UK-based studios to take part in an in-depth survey that ...
19/08/2026
Vintage-inspired desktop interface revealed
Harrison's latest hardware offering sees them head into the world of audio interfaces, delivering a 10-in/12...
19/08/2026
Granular effect remains locked to scale and tempo
Described as your dream granular effect , Minimal Audio's latest creation is capable of turning any s...
19/08/2026
First polyphonic SWAM instrument incoming
Audio Modeling's latest physical-modelling orchestral instrument is just around the corner, and is now availab...
19/08/2026
World Cup Games Generate 84 Billion Minutes Across FOX, Fox Sports 1 and NBCU...
19/08/2026
July brought typical peak-holiday drops in viewership, driven primarily by viewers stepping away from screens and a visible decline in reach across both traditi...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Henry joins BCE as the company accelerates its commercial strategy and expands its international presence across the media, broadcast and technology markets. He...
19/08/2026
iWedia, a leading provider of software solutions for connected TV devices, today announced a major milestone in Android platform optimization with the successfu...
19/08/2026
NTP Technology announces that ST 2110-30 audio-over-IP connectivity with AES67 and RAVENNA capabilities is now available for the brand's world-class audio i...
19/08/2026
Net Insight has been selected to provide its Nimbra platform by the service provider Big Blue Marble, formerly ORS Group, as the core media transport solution f...
19/08/2026
LiveU has supported Coventry City FC and several other top-flight UK football clubs through one of their most demanding live production challenges of the year, ...
19/08/2026
Nature Seekers Documentary Shot with Blackmagic URSA Cine 12K LF
Brie Clayton August 18, 2026
0 Comments
Filming endangered turtles required camera...
19/08/2026
Neyrinck Brings D-Control Consoles Back to Life on Apple Silicon with D-Control ...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Riedel Communications today announced that Edith Cowan University (ECU) in Perth, Australia, implemented a comprehensive communications infrastructure that brin...
19/08/2026
QuickLink, a leading provider of award-winning video production and remote guest contribution solutions, will spotlight a major leap forward in remote guest con...
19/08/2026
Integrated platform melds media asset management, playout automation and newsroom workflows
EMAM, PlayBox Neo and SNEWS have officially launched Nuvex, a conne...
19/08/2026
Screen Australia releases the Private Investment Toolkit to strengthen screen in...
19/08/2026
Do Aussies truly value local content? Unpacking Screen Currency 2026 with Deirdr...
19/08/2026
There's an early Christmas gift for Bookish fans, as UKTV confirms the re-commission of the hit U&alibi drama, created by and starring Mark Gatiss. Viewers ...
19/08/2026
Wednesday 19 August 2026
Sky gives sports fans the chance to watch multiple liv...
19/08/2026
On Saturday September 5 Katie Taylor will step into the ring for the fight of her life against Flora Pili in front of 80,000 fans in Croke Park. A legendary fig...
18/08/2026
SportStream 2026, a free three-day virtual event, will take place September 15-17. One registration provides access to all three days of live programming and on...
18/08/2026
BeckTV will introduce BeckFlow to the European market at IBC2026, demonstrated on the Providius stand (10.F53).
BeckFlow is a web-based schematic documentation...
18/08/2026
Boland Communications will introduce a SMPTE ST 2110 input option for its 4K monitors at IBC2026, along with a new 55-inch super-narrow bezel display for video ...
18/08/2026
Dolby Laboratories and the Seattle Seahawks have announced a partnership integrating Dolby OptiView into the Seahawks' live streaming coverage, making the S...
18/08/2026
For BMG Executive Producer of Sports Production, Graham Taylor, producing live s...
18/08/2026
TMRW Sports has appointed Rufus Hack as President of Golf, a newly created role in which he will lead the company's golf businesses including TGL presented ...
24 Jul 2023
