Sony Pixel Power calrec Sony

VEON announces ratio change under its American Depositary Receipt (ADR) program

06/02/2023

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
LINK: https://www.veon.com/media/media-releases/2023/veon-announces-ratio-ch...
See more stories from vimpel

Most recent headlines

05/01/2027

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be demoed at CES 2026

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...

07/10/2026

Dalet Flex LTS Delivers Smarter Media Operations from Ingest to Distribution

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

Dolby and MagentaTV Bring Fans Closer to the FIFA World Cup 2026 in Germany with Dolby Vision and Dolby Atmos

June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...

10/08/2026

Apple to Bring Friday Night Baseball' Live to Apple Immersive on Vision Pro Beginning Aug. 28

Weekly immersive broadcasts will feature 8K 3D video, a 180-degree field of view...

10/08/2026

Raiju from fedDSP

Saturation plug-in free until 20 August 2026 fedDSP have announced the launch of Raiju, a new guitar pedal-style saturation plug-in that's capable of de...

10/08/2026

I/O Music release Talkback

New mix-comparison & feedback tool Independent Swedish record label I/O Music have recently released a handy new tool that provides artists, engineers, prod...

10/08/2026

Sound Radix launch Radical1 Solo

Additive soft synth gains free counterpart Sound Radix have just released a free monophonic additive software synth that's based on the same engine as t...

10/08/2026

Chroma integrates MXO oscilloscopes into ATS 8000 platform, rounding out its high-end power testing ecosystem

Chroma integrates MXO oscilloscopes into ATS 8000 platform, rounding out its hig...

10/08/2026

Former NAB Tech Exec Tom Keller Has Died

Share Copy link Facebook X Linkedin Bluesky Email...

10/08/2026

Matthews Bows Monitor Stand III

Share Copy link Facebook X Linkedin Bluesky Email...

10/08/2026

AES Elects David v.R. Bowles as President-Elect for 2027

Share Copy link Facebook X Linkedin Bluesky Email...

10/08/2026

NUGEN Audio Helps SFCM Students Achieve Professional Mixe...

Students in the Technology and Applied Composition (TAC) program at the San Francisco Conservatory of Music (SFCM) gain rare, real world experience in professio...

10/08/2026

FOR-A demonstrates new and practical solutions to real ch...

FOR-A is using its presence at IBC2026 (stand 2.B53, Amsterdam RAI, 11 14 September) to show how its products deliver the answers to the real challenges faced...

10/08/2026

Frontier EU brings broadcast-grade network resilience to...

Frontier EU, official Peplink distributor for Europe, will exhibit at IBC 2026 in Amsterdam from 11 to 14 September, presenting live demonstrations of how Pepli...

10/08/2026

Remote Editing Without Cloud Storage Premiere Pro

Remote Editing Without Cloud Storage Premiere Pro Michael Cioni August 10, 2026 0 Comments This is a step-by-step guide that demonstrates how to setup...

10/08/2026

Stunning Pixelated ASCII Effect for Apple Motion

Stunning Pixelated ASCII Effect for Apple Motion Simon Ubsdell August 10, 2026 0 Comments Apple Motion is perfect for building this popular ASCII unic...

10/08/2026

New York Jets, CBS New York Extend Deal

Share Copy link Facebook X Linkedin Bluesky Email...

10/08/2026

Welcome to the Show: Sky Creative unites football fans with start of season campaign

Monday 10 August 2026 Welcome to the Show : Sky Creative unites football fans w...

10/08/2026

Red Seat Ventures' Speakeasy Brings Video to Apple Podcasts, Beginning with Surrounded

Red Seat Ventures' Speakeasy Brings Video to Apple Podcasts, Beginning with ...

10/08/2026

30% More Pumping Hours With Autonomous Frac Operations

A major unconventional operator increased monthly pumping hours by more than 30% by automating critical frac completion processes and eliminating common sources...

10/08/2026

Apple, MLB announce September \u201CFriday Night Baseball\u201D schedule - UPDATE - Posted on 10 August 2026

Today, Apple and Major League Baseball (MLB) unveiled the September schedule for...

09/08/2026

reFX introduce Rippler

Combines physical modelling with subtractive synthesis reFX, the company behind the popular Nexus and Vanguard2 soft synths have announced the launch of the...

09/08/2026

Dreamtonics tease upcoming release

Human nuance is not a switch Dreamtonics have built up a solid reputation off the back of their Synthesizer V Studio software, a powerful vocal-synthesis t...

09/08/2026

COW Jobs: Documentary Editor - Remote

COW Jobs: Documentary Editor - Remote Brie Clayton August 9, 2026 0 Comments Documentary Editor July 31, 2026COW Jobs: Lead Generation Representativ...

08/08/2026

IK Multimedia launch Tonex 2.0 beta

Enhanced ToneNET integration & 220 new Premium V2 Tone Models IK Multimedia have just launched a public beta of Tonex 2.0, a release which is said to repres...

08/08/2026

Roland celebrate 808 Day

Honouring the drum machine that redefined modern music Roland have announced their plans for this year's 808 Day, a day that was founded to celebrate th...

08/08/2026

Call for Entries Now Open for the 20th Annual South African Film & Television Awards (SAFTAs20)

The National Film and Video Foundation (NFVF), an agency of the Department of Sp...

08/08/2026

Star Wars Hyperspeed Tutorial: The No-Echo Method in After Effects

Star Wars Hyperspeed Tutorial: The No-Echo Method in After Effects Graham Quince August 8, 2026 0 Comments The Echo Effect to create long streaks is n...

08/08/2026

Chyron Releases AXIS 4.0 With Expanded News Workflows and Richer Map Storytelling

Chyron Releases AXIS 4.0 With Expanded News Workflows and Richer Map Storytellin...

08/08/2026

Nielsen to Acquire DoubleVerify for $2.15 Billion

Share Copy link Facebook X Linkedin Bluesky Email...

08/08/2026

FCC Chair Carr Announces New Legal Advisor

Share Copy link Facebook X Linkedin Bluesky Email...

08/08/2026

Trump Nominates Danielle Thumann Severs to FCC Commission Seat

Share Copy link Facebook X Linkedin Bluesky Email...

08/08/2026

New York Jets, CBS New York Extends Deal with New York Jets

Share Copy link Facebook X Linkedin Bluesky Email...

08/08/2026

Foundry Unlocks Professional-Grade AI for VFX with Griptape Enterprise; Appoints Kyle Roche as Chief AI Officer

Foundry Unlocks Professional-Grade AI for VFX with Griptape Enterprise; Appoints...

08/08/2026

Award Winning New Horror Film Shot Using Blackmagic Camera App

Award Winning New Horror Film Shot Using Blackmagic Camera App Brie Clayton August 7, 2026 0 Comments Fire Alive, shot using the Blackmagic Camera i...

08/08/2026

Firebird Launches CIS Region's Largest AI Factory in Armenia

The global buildout of AI infrastructure reached a new milestone today - Firebird, an emerging AI cloud, launched the CIS region's largest AI factory in Arm...

07/08/2026

Diversified Appoints Pete Emminger as Global Chief Technology Officer

Diversified has appointed industry veteran Pete Emminger as global chief technology officer. Emminger will lead the company's global go-to-market technology...

07/08/2026

Release Rundown: What to Watch in August, From American Doctor to Idiots

O'Shea Jackson Jr., Dave Franco, and Mason Thames appear in Idiots by Macon Blair, an official selection of the 2026 Sundance Film Festival. (Courtesy of ...

07/08/2026

Sonuscore release The Sculpture

An instrument made for the adventurous composer Described as an instrument made for the adventurous composer , Sonuscore's latest sample library has b...

07/08/2026

Synchron Solo Violin 2 & Viola (sordino) join VSL line-up

Latest solo Synchron libraries arrive VSL have just released the final two instalments in their range of muted solo string libraries. Recorded in the large ...

07/08/2026

GC Audio's new Producer Channel

Channel strip offers plug-in control & recall Along with some new additions to their Inherit modular preamp system, GC Audio's announcements for NAMM 20...

07/08/2026

Opening Statement: Public hearing of the Inquiry into Racism, Hate and Violence Directed at Aboriginal and Torres Strait Islander People

Opening Statement: Public hearing of the Inquiry into Racism, Hate and Violence ...

07/08/2026

Nielsen to Acquire DoubleVerify, Creating a Leading, Independent Media Intelligence Platform

DoubleVerify Shareholders to Receive $13.60 Per Share in Cash, Representing a 30...

07/08/2026

Lawo To Highlight Dynamic Media Facility Support At IBC 2026

Share Copy link Facebook X Linkedin Bluesky Email...

07/08/2026

MediaKind To Feature Unified Product Portfolio At IBC 2026

Share Copy link Facebook X Linkedin Bluesky Email...

07/08/2026

ACT Entertainment Honored with Neutrik Group Americas Par...

The Award Recognizes ACT's Outstanding Sales Performance, Marketing Collaboration and Long-standing Commitment to the NEUTRIK Brand ACT Entertainment, one ...

07/08/2026

Beamr Brings NVIDIA Video Super Resolution to Live Sports...

Beamr Imaging Ltd. (Nasdaq: BMR), a leader in video optimization technology and solutions, today announced it is bringing AI upscaling to live sports, broadcast...

07/08/2026

Berklee City Music Presents Nine Scholarships and Awards at Annual Concert

Berklee City Music Presents Nine Scholarships and Awards at Annual Concert Student recipients from seven states and Canada received scholarships, housing awar...

07/08/2026

Lawo To Highlights Dynamic Media Facility Support At IBC 2026

Share Copy link Facebook X Linkedin Bluesky Email...

07/08/2026

Kevin Trueblood to Return as SBE President

Share Copy link Facebook X Linkedin Bluesky Email...