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.
Most recent headlines
02/07/2023
Our robust, comparable data provides trusted insights and gives media owners, buyers and planners the power to trade confidently.
ABC members and data subscrib...
02/07/2023
We'll be releasing The next set of ABC audited consumer media data covering the period January to December 2022 on Tuesday 21st February at noon.
When rele...
02/07/2023
We'll be releasing The next set of ABC audited consumer media data covering the period January to December 2022 on Tuesday 21st February at noon.
When rele...
01/05/2023
Our Chief Executive Simon Redlich was recently invited by Alliance for Audited Media (AAM) to share his views on what 2023 might hold. Read what Simon and other...
31/03/2023
At Sundance Institute, trans storytellers will always have a place to cultivate their artistic craft, their sense of community, and most importantly, their joy....
31/03/2023
My radical existence is my art.
- Aitch Albertowriter-director...
31/03/2023
Over the years, R&B has been defined by constant evolution. To further support and amplify the genre's dynamic new artists, we're launching a concert se...
31/03/2023
I believe in paying it forward....
31/03/2023
Manned-Unmanned Teaming
Not all autonomous systems are created equal, and it...
31/03/2023
L3Harris' Waco, Texas aircraft modification center completed the integration of the U.S. Air Force's newest electronic warfare aircraft and is preparing...
31/03/2023
Leading the Way Through the Media Maze...
31/03/2023
LAS VEGAS In the runup to the Centennial NAB Show in April, a group of 24 leading British companies have grouped together to bring the British media technology ...
31/03/2023
The first question being asked in various circles about the 2023 Major League Baseball season is obvious: How will the new rules the pitch clock, a limited numb...
31/03/2023
Opening Night 2023 set for Friday, March 31 at Durham Bulls Athletic Park
With Opening Night set for this Friday, the Durham Bulls have unveiled new and exciti...
31/03/2023
Mayssa Karaa Elevates the Performing Arts in Abu Dhabi The singer-songwriter serves as artistic director of Berklee Abu Dhabi, where she and her team are brea...
31/03/2023
Miley Cyrus Ensemble to Celebrate Pop Diva's Career The Signature Series concert will showcase the singer's artistic evolution and unapologetic spirit...
31/03/2023
Universal Pixels Dan Edmonds talks to TVBEurope about the companys work on major...
31/03/2023
Zixis Elizabeth Utting-Quereuil reveals how she found herself working in the media tech industry, and why attending industry events and learning from colleagues...
31/03/2023
Vizrt, the leader in real-time graphics and live production solutions for content creators, today announces an advanced version of Viz Social.
Completely clou...
31/03/2023
Unified Streaming, the Amsterdam-based innovator in the video streaming technology field, has named Martin van Aalderen its new CEO as of March 1, 2023.
Van Aa...
31/03/2023
Proprietary Masquerade 2.0 Facial Capture System and Neural Networks Help Award-Winning VFX Studio Create a Villain That Won't Soon be Forgotten
Over the ...
31/03/2023
arkona technologies GmbH, provider of IP core infrastructure solutions for top-tier broadcast productions, has announced plans to show the latest BLADE//runner ...
31/03/2023
Company celebrates 2,500 SNPs shipped with game-changing new release
Imagine Communications continues to add ground-breaking features to its Selenio Network P...
31/03/2023
Digital Audio Denmark's new AX Center is a dedicated Thunderbolt modular audio interface with dual mic and instrument inputs, dual headphone and monitor out...
31/03/2023
24i and Amagi partnership enables FAST channel operators to rapidly launch high-quality owned and operated (O&O) streaming apps on connected TVs and other strea...
31/03/2023
Dante AV-H Enables Easy Discovery, Connectivity and Control to Marshall IP Camera Lineup
Marshall Electronics, a trusted provider of high-quality and reliable ...
31/03/2023
Eclipse Digital Matrix intercom system adds IP flexibility for easy communication among A/V teams.
Located on New York City's bustling west side, the Jacob...
31/03/2023
Automatic end-to-end workflow enabling sports content rights holders with D2C services to enhance fan engagement
Leading technology partners unite connecting n...
31/03/2023
Booth N2966: Starfish Technologies, a pioneer in transport stream processing, will use its NAB presence to highlight how its innovative software products can d...
31/03/2023
Fort Lee, NJ, March 30th, 2023 Leader Instruments Corporation announces a major addition to its range of broadcast-quality test and measurement solutions. Opt...
31/03/2023
IMDb (www.imdb.com), the world's most popular and authoritative source for information on movies, TV shows, and celebrities, and Fabric (www.fabricdata.com)...
31/03/2023
Rohde & Schwarz, a global leader in broadcast distribution and trusted partner in media solutions, will show its latest transmitter technology at NAB2023 (booth...
31/03/2023
Wooden Camera announces the new custom Sony VENICE 2 and Rialto 2 Accessory System. Lightweight and fully modular, Wooden Camera s Elite System is designed for ...
31/03/2023
TV Techs virtual 2023 Spring Summit drew hundreds of attendees to explore the latest trends in the TV business, including remote live production, virtual produc...
31/03/2023
SAN FRANCISCO The leading television stations serving the San Francisco Bay Area have begun offering NextGen TV, aka ATSC 3.0, broadcasts, bringing the new digi...
31/03/2023
MONTREAL Haivision has announced that YouTube has joined the SRT Alliance and will participate in the company's upcoming SRT InterOp Plugfest....
31/03/2023
IRVINE, Calif. Vizio and AMC Networks have inked a deal that will expand AMC's channels on Vizio smart TV by adding the AMC+ app, nine free streaming channe...
31/03/2023
CUPERTINO, Calif. Interra Systems has announced that MySatGo, an online TV platform offering Arabic content to the Middle East, Australia, and Canada, has deplo...
31/03/2023
It's Opening Day! Durham Bulls staffers have been eagerly anticipating Friday, March 31, 2023, for months. Here's what a few more front office employe...
31/03/2023
Miley Cyrus Ensemble to Celebrate to Pop Diva's Career The Signature Series concert will showcase the singer's artistic evolution and unapologetic spi...
31/03/2023
Opponents of the Standard General-Tegna (SG-Tegna) merger say the companies'...
31/03/2023
New culinary competition series Gordon Ramsay's Food Stars debuts on Fox Wednesday, May 24, leading out of the season 13 starter for MasterChef. The new sho...
31/03/2023
YouTube, Vizio, Amazon, Snap, Peacock, Samsung, Roku, Yahoo, Meta, Vevo and TikTok are among the headliners presenting at this year's NewFronts....
31/03/2023
Roku said it will eliminate 200 employees, or about 6% of the company's workforce as part of a new restructuring plan....
31/03/2023
Prom Pact, a movie about all the drama surrounding the prom, debuts on Disney Channel March 30 and Disney Plus March 31. Mandy and Ben are best friends and outs...
31/03/2023
NextGen TV has come to San Francisco, one of the nation's largest and most technology-savvy markets....
31/03/2023
Vizio and AMC Networks said they have expanded their relationship, with nine additional channels from the programmer available via Vizio's WatchFree Plus st...
31/03/2023
Speedvision, relaunched as a free ad-supported streaming television (FAST) channel last year, is now available on the Amazon Freevee platform in the U.S....
31/03/2023
The Coalition for Innovative Media Measurement said it has launched a study looking at opportunities to enhance the value of smart-TV data as part of television...
31/03/2023
Season three of Awkwafina is Nora from Queens starts on Comedy Central Wednesday, April 26. Awkwafina is the creator, writer and star of the show, inspired by h...
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.
