
03 Feb 2022
VEON announces its intention to establish new parent holding company in the UK Amsterdam, 3 February 2022 - VEON Ltd. (NASDAQ and Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, has today announced its intention to move its group parent company to the United Kingdom, with the introduction of a newly formed UK incorporated public limited company as the top holding company of the VEON Group (the new UK Parent Company ). It is expected that the new UK Parent Company will replace VEON Ltd. (a Bermuda incorporated company) as the VEON Group's ultimate parent company by way of a Bermuda court-approved scheme of arrangement.
The proposal represents a move away from incorporation in Bermuda to the United Kingdom, placing the company in a jurisdiction with high standards of corporate governance and a strong and transparent legal framework that is close to its operational headquarters in Amsterdam. The change of the place of incorporation of the top holding company is expected to enable VEON and its operating subsidiaries to operate more effectively across its markets, to best position the VEON Group for the future. It is expected that such change will also provide the Company with the necessary flexibility vis- -vis current and future tightening of regulatory requirements in many of its markets of operation, including Russia, which recently introduced a new law introducing certain conditions for companies participating in Russian state and municipal procurement tenders or contracts.
We are not anticipating any adverse tax consequences as a result of this change. In addition, we do not anticipate any material changes to the VEON Group's corporate governance framework, including its existing board and committee structure.
VEON Ltd. will issue a notice to convene a general meeting of its shareholders to seek their approval for the proposed move and intends to apply for approval of a scheme of arrangement from the Bermuda Supreme Court. VEON does not expect these changes to have a material impact on its financial operations or result in changes to its day-to-day operations. As part of these transactions, common shares and American Depositary Shares (ADSs) in VEON Ltd. are expected to be exchanged on a 1-for-1 basis for ordinary shares and ADSs, respectively, in the new UK Parent Company and such shares and ADSs are expected to be listed and traded on Euronext Amsterdam and NASDAQ, respectively, under the same current VEON ticker symbol. VEON is expected to continue to be subject to Dutch Authority for the Financial Markets (AFM) and US Securities and Exchange Commission (SEC) reporting requirements.
Establishing our new group parent company in the United Kingdom is another positive step forward as we continue to evolve our Group governance. This is particularly appropriate given the international nature of VEON and the current climate of tightening regulatory requirements across the globe, said Gennady Gazin, VEON's Chairman.
About VEON
VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and digital services. Our companies are transforming lifestyles through technology-driven services that empower opportunity in some of the world's fastest-growing emerging markets. For more information, visit: https://www.veon.com
Disclaimer
This 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, and include statements relating to, among other things, the potential benefits of the appointment described above. 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 dates 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
Investor Relations
Nik Kershaw
ir@veon.com
Communications
Marina Levina
pr@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 to comply with your preferences, well have to use just one tiny cookie so that youre not asked to make this choice again.
AcceptDecline
Most recent headlines
06/10/2025
France T l visions, France's leading broadcaster, has received the 2025 EBU ...
04/09/2025
Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...
07/08/2025
July 8 2025, 22:30 (PDT) Tata Motors & Dolby Bring Dolby Atmos to Harrier.ev, R...
12/07/2025
As the death toll continues to mount, with at least 120 killed and more than 170 people still missing on July 10 from devastating Texas floods, a number of broa...
12/07/2025
EL SEGUNDO, Calif., and MIAMI -DirecTV and TelevisaUnivision have signed a deal that will make the ad-supported premium subscription tier of ViX, ViX Premium wi...
11/07/2025
PARK CITY, UTAH, July 11, 2025 - The nonprofit Sundance Institute announced today the 11 producers chosen for its annual Producers Labs, returning to Ucross Fou...
11/07/2025
If you've ever wondered what might be playing in Clark Kent's headphones...
11/07/2025
L3Harris Technologies President of Intelligence, Surveillance and Reconnaissance Jason Lambert and General Manager of L3Harris Waco facility Sean Ling held a ce...
11/07/2025
ARLINGTON, Va. WETA, the flagship public media station in the national capital area, has launched WETA+, a new streaming service tailored for the local Washingt...
11/07/2025
The Federal Communications Commission has emerged as one of the central players in the broadcast TV landscape in 2025, with its deregulatory policies sparking h...
11/07/2025
Calrec will introduce usability, customization and system enhancements across its entire range of Argo consoles during IBC2025, Sept. 12-15, at the RAI Amsterda...
11/07/2025
LONDON Encompass Digital Media said it will support live and on-demand viewing of the 2025 FIFA Club World Cup across multiple global regions for sports enterta...
11/07/2025
Two-thirds of broadcast engineers reaped the benefits of a pay raise within the last year....
11/07/2025
CARY, N.C. SmallHD has launched the Quantum 27, a new 26.5-inch Quantum-Dot OLED monitor designed to deliver postproduction image quality in a compact, set-frie...
11/07/2025
The Federal Communications Commission's Enforcement Bureau and Tegna have entered into a consent decree that will settle an investigation into the accidenta...
11/07/2025
WASHINGTON Following news in early July that Paramount had settled President Donald Trump's lawsuit, Sens. Edward J. Markey (D-Mass.) and Ben Ray Luj n (D-N...
11/07/2025
Model/Actriz Performs Lead Single Cinderella on The Late Show with Stephen Colbe...
11/07/2025
Behind the Mic: Amazon Prime Preps for First Season of NBA Action; MSG Networks ...
11/07/2025
SVG New Sponsor Spotlight: Suite Studios' Craig Hering on Adapting to Client...
11/07/2025
2025 SVG Content Management Forum Breaks Down AI's Impact, Continued Transit...
11/07/2025
A Journey HOME: University of Nebraska's HuskerVision Goes IP Leaders from the HuskerVision and Lawo share their IP learnings By SVG Staff
Friday, July 1...
11/07/2025
CMSI, Remote Picture Labs, Ace ESPN's Cloud-Based Editing Efforts for Wimble...
11/07/2025
Netflix Enters the Live-Boxing-Production Ring for Round 2 With Historic Taylor-...
11/07/2025
Back to All News
Too Hot to Handle: Italy Is Coming on July 18 Only on Netflix
Entertainment
11 July 2025
GlobalItaly
Link copied to clipboard
July 11, 20...
11/07/2025
Back to All News
Netflix Will Release Death Inc. Seasons 1, 2 and 3
Entertainment
11 July 2025
GlobalSpain
Link copied to clipboard
Season 1
Season 2
Se...
11/07/2025
AI and Multimedia Authenticity Standards Collaboration launches two papers to guide the future of AI integration, today at the AI for Good Global Summit
The...
11/07/2025
Ceramics - the humble mix of earth, fire and artistry - have been part of a global conversation for millennia.
From Tang Dynasty trade routes to Renaissance pa...
10/07/2025
The current holder of the prestigious Thomson Foundation Young Journalist of the Year Award has been forced to stop reporting over fears for her safety in Afgha...
10/07/2025
Spotify is turning up the volume on Australian music with a multipronged initiative designed to highlight the dominance of Australian artists on the global stag...
10/07/2025
This is not a drill: Oasis is back on the road-marking its first live performanc...
10/07/2025
The music industry depends on fresh ideas, bold voices, and emerging talent. Yet across the U.K., too many young musicians lack the space to develop their craft...
10/07/2025
NEW YORK - July 10, 2025 - Nielsen, the global leader in audience measurement, data and analytics, today announced that it appointed Richard Pacheco as head of ...
10/07/2025
Local newscasts don't exist in a vacuum. News directors and station management constantly evaluate what's working, what isn't and perhaps most impor...
10/07/2025
Lawo has announced that Stuttgart Media University (Hochschule der Medien, HdM) has comprehensively modernized its central recording studio after selecting an I...
10/07/2025
The Society of Motion Picture and Television Engineers (SMPTE) has opened early-bird registration for the Media Technology Summit, which will take place in a ne...
10/07/2025
NASHVILLE, Tenn. TNDV Television has launched Aspiration 35, a new version of its 40-foot Aspiration truck reimagined for cinematic multicamera productions....
10/07/2025
BURBANK, Calif. Key Code Education, a provider of instructor-led postproduction training, is growing its curriculum with new programs for beginner and intermedi...
10/07/2025
HACKENSACK, N.J. Actus Digital will demonstrate how broadcasters can transform compliance monitoring from a necessary expense into a strategic revenue driver at...
10/07/2025
The Federal Register has published a summary of the Federal Communications Commission's Public Notice seeking comments on its ownership rules that lists a d...
10/07/2025
Back to All News
Netflix Presents the Official Trailer for SuperestarPlay Video
Play Video
Entertainment
10 July 2025
GlobalSpain
Link copied to clipboard...
10/07/2025
In the race to understand our planet's changing climate, speed and accuracy are everything. But today's most widely used climate simulators often strugg...
10/07/2025
As one of the world's largest emerging markets, Indonesia is making strides toward its Golden 2045 Vision - an initiative tapping digital technologies and...
10/07/2025
10 Jul 2025
VEON and Cohen Circle Secure Investor Commitments for Kyivstar Listing Kyiv, New York, Dubai, and Philadelphia - July 10, 2025 - VEON Ltd. (Nasdaq:...
10/07/2025
5G for all? What the DFL's use of Easy5G and RefCam could mean for events in...
10/07/2025
Save the Date: PGA TOUR Studios Welcomes SVG Remote Production Summit on Oct 14-...
10/07/2025
Cloud on the Road: How Remote-Production-Service Providers Are Adapting to a New...
10/07/2025
Seattle Kraken's Ryan Schaber on the NHL Team Taking Live Game Productions I...
10/07/2025
FOX Sports Reboots Small Control Room in Los Angeles as Hub for Vertical-First P...
10/07/2025
SVG Sit-Down: MSE's Zach Leonsis, ViewLift's Rick Allen Go Deep on Joint...