06 Feb 2023
VEON announces ratio change under its American Depositary Receipt ( ADR ) program Amsterdam, Netherlands, 6 February 2023 07:00 CET: VEON Ltd. (NASDAQ, Euronext Amsterdam: VEON) ( VEON or the Company ), a global digital operator that provides converged connectivity and online services, announced today that its Board of Directors (the Board ) has approved a change of ratio in the Company's ADR program, comprising a change in the ratio of American Depositary Shares (the ADSs ) to VEON common shares (the Shares ) from one (1) ADS representing one (1) Share, to one (1) ADS representing twenty-five (25) Shares (the Ratio Change ). The effective date of the Ratio Change (the Effective Date ) is expected to be 6 March 2023.
Pursuant to the Ratio Change, as of the Effective Date, record holders who directly hold ADRs will be required to exchange their existing ADRs for new ADRs on the basis of one (1) new ADR for every twenty-five (25) existing ADRs surrendered. The Depositary will contact ADR holders and arrange for the exchange of their existing ADRs for new ADRs. ADS beneficial holders who hold through an ADR holder intermediary need not take any action in connection with the Ratio Change.
For ADS holders, the Ratio Change will have the same effect as a one for twenty five reverse ADS split. No new Shares will be issued in connection with the Ratio Change and the ADSs will continue to be traded on The Nasdaq Capital Market under the symbol VEON.
As a result of the Ratio Change, the trading price of the Company's ADSs is expected to automatically increase proportionally, but the Company can give no assurance that the ADS trading price following the Ratio Change will be at least equal to the ADS trading price before the Ratio Change multiplied by the new 25:1 ratio. As VEON announced previously on 5 October 2022, the Listing Qualifications Department of The Nasdaq Market granted VEON an additional grace period through 3 April 2023 to regain compliance with the minimum bid price requirement set forth in Nasdaq's Listing Rule 5550(a)(2) (the Minimum Bid Price ). While the Ratio Change is intended to bring the bid price of the Company's ADSs into compliance with the Minimum Bid Price, the Company can give no assurance that the Ratio Change will be effective in achieving this goal.
VEON Group CEO Kaan Terzioglu commented: We believe the Ratio Change is in the best interest of all our stakeholders, as it will allow us to ensure VEON's continued Nasdaq listing and provide a pathway toward increasing VEON's visibility on Nasdaq.
About VEON
VEON is a global digital operator that currently provides converged connectivity and online services to over 200 million customers in seven dynamic markets. We are transforming people's lives, empowering individuals, creating opportunities for greater digital inclusion and driving economic growth across countries that are home to more than 8% of the world's population. Headquartered in Amsterdam, VEON is listed on NASDAQ and Euronext.
For more information visit: www.veon.com.
Important Notice
This release is for informational purposes only and shall not constitute a prospectus or an offer to sell or the solicitation of an offer to buy securities in the United States or any other jurisdiction, nor shall there be any offer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under applicable securities laws.
This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129.
This communication or information contained herein is not an offer, or an invitation to make offers, to sell, exchange or otherwise transfer securities in the Russian Federation to or for the benefit of any Russian person or entity and does not constitute an advertisement or offering of securities in the Russian Federation within the meaning of Russian securities laws.
Elements of this press release contain or may contain inside information as defined under the Market Abuse Regulation (EU) No. 596/2014.
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, expectations regarding the Ratio Change and the benefits of the Ratio Change, including compliance with the Minimum Bid Price. 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 and except as set forth above, any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.
Contact information
VEON
Nik Kershaw
Group Director Investor Relations
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 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
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
06/07/2026
Digital Domain Appoints Industry Veteran Patrick Davenport as Executive Vice Pre...
06/07/2026
Gravity Media USA appoints Brittney Boston as Head of Business Development
Brie Clayton July 6, 2026
0 Comments
The strategic new appointment supports...
06/07/2026
Remote Editing Without Cloud Storage in Resolve
Michael Cioni July 6, 2026
0 Comments
This is a step-by-step guide that demonstrates how to setup your...
06/07/2026
Automatic Caption Translation in Adobe Premiere Pro
Colin Smith July 6, 2026
0 Comments
Here I showcase the innovative automatic caption translation f...
06/07/2026
Flavor's First Ever Managing Director Neal Cohen Retires; Longstanding Execu...
06/07/2026
How Adam Rosenwach Pivoted from Music to Medtech Without Missing a Beat What do the rehearsal room and the boardroom have in common? More than you might think...
06/07/2026
Zhongyi Optics unveils the Dreamy Zone T1 FF Cine Lens Series on Indiegogo with ...
06/07/2026
Fresh from his World Cup heroics with Cabo Verde, Roberto Pico' Lopes will join the RT panel for Argentina v Egypt tomorrow and for the England v Norway q...
06/07/2026
Nations have long invested in domestic infrastructure to advance their economies, protect and use their data, and take advantage of technology opportunities in ...
06/07/2026
Every year, the International Conference on Machine Learning (ICML) reveals where thousands of AI researchers have decided to put their work.
This year's ...
06/07/2026
A death can be unsuspicious, but it has to be explained
What happened to Ke...
05/07/2026
We've gone to another level of integrating the graphics into the set architecture -Zac Fields, Fox Sports, SVP of Graphic Technology and Integration...
05/07/2026
Browser-based and desktop apps available
Digital Sunset Studios have been busy working on an interesting project: a free software tool that provides compute...
04/07/2026
When Canada qualified for the FIFA World Cup 2026, OneSoccer knew this wasn'...
04/07/2026
Celebrates company's 80th anniversary
Rhodes have recently revealed that they will be producing a limited run of electric pianos in celebration of their...
04/07/2026
Blackmagic Design Cameras Empower Youth Broadcasting Program
Brie Clayton July 3, 2026
0 Comments
Blackmagic Pocket Cinema Camera 6K Pro and Blackmagi...
04/07/2026
iZotope Joins Boris FX
Boris Yamnitsky July 3, 2026
0 Comments
iZotope, the team behind RX and Ozone, is joining Boris FX. A letter from founder Boris...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
03/07/2026
New bundle & three Single Packs
Continuing to expand their already sizeable orchestral collection, VSL's latest release introduces three new Single Pack...
03/07/2026
Venue installs new ATC-equipped control room
LSO St Luke's, a unique music venue that also serves as the home of the London Symphony Orchestra, have rec...
03/07/2026
Caden Pearson appointed new Commissioning Editor for NITV
3 July, 2026
Media releases
National Indigenous Television (NITV) has strengthened its commitment...
03/07/2026
1 February 2023
SHARE Facebook Twitter Linkedin Email
Munich, Germany, 1st February 2023: Cinegy GmbH, the premier provider of software technology for digit...
03/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
03/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
03/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
03/07/2026
Death Star
Andy Marken July 2, 2026
0 Comments
Look, I can't get involved. I've got work to do. It's not that I like the Empire; I hate i...
03/07/2026
Berklee's New Visual Identity: Honoring Our History, Building for What's...
03/07/2026
Scripps Research scientists awarded $2M to advance global disease surveillance Two Gates Foundation grants will expand wastewater surveillance and AI-driven dis...
03/07/2026
Joan Pulupa joins Scripps Research faculty to study the organization of DNA in brain cells and its links to neurodegeneration Using smell-sensing neurons and ad...
02/07/2026
Entering her senior year, this hometown girl is paving a career in live sports production gaining experience in replay and audio and as a TD
In the live-sports...
02/07/2026
In-venue and creative video staffers at the professional and collegiate level ha...
02/07/2026
BLAST, a competitive entertainment company focused on esports, has announced more than $133 million in revenue for 2025, representing more than 40% year-over-ye...
02/07/2026
Riedel Communications has announced official SKAARHOJ panel support for SimplyLive production workflows, enabled through the SimplyLive 2.1 release. The integra...
02/07/2026
The Fire Rescue Service of the Czech Republic has deployed LiveU video-over-bond...
02/07/2026
Gravity Media USA has announced the appointment of Brittney Boston as Head of Business Development, effective July 1, 2026. Based in Nashville, Tennessee, Bosto...
02/07/2026
TwelveLabs, a video intelligence company, has announced $100 million in Series B funding co-led by NEA and NAVER Ventures, with participation from Amazon, Radic...
02/07/2026
The Pro Padel League (PPL) has announced a broadcast partnership with USA Sports that will air five PPL championship matches on CNBC during the 2026 season, the...
02/07/2026
LiveLike, a digital fan engagement platform, has announced eight confirmed FIFA ...
02/07/2026
Cobalt Digital has received Future's Best of Show Award, presented by AV Technology at InfoComm 2026, for its blueCORE family of standalone signal processor...
02/07/2026
Synamedia has announced the appointment of Dr. Tzvi Gerstl as Chief Executive Officer. Paul Segre, who has served as CEO for the past six years, will transition...
02/07/2026
The Esports Foundation (EF) and Sony Group Corporation have announced an expanded collaboration for the Esports World Cup 2026 (EWC), taking place in Paris, Fra...
02/07/2026
Zee Entertainment Enterprises Ltd. ( Z') has announced exclusive broadcast and digital rights for the Bundesliga in India for five years, beginning with the...
02/07/2026
An effort uniting News, Sports, Local, and Telemundo, the 50+-camera live produc...
02/07/2026
Zoey Deutch, John Slattery, Ken Marino, Miles Gutierrez-Riley, and Ben Wang appe...
02/07/2026
Stammering, stuttering, strangulated tones
The Crow Hill Company's latest creation promises to be the most original sound set they've produced to d...
02/07/2026
A new era in unmixing and spectral editing
The latest version of Steinberg's spectral audio-editing software has just arrived, building on the strength...
06 Feb 2023
