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 ...
01/06/2026
January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026
Throughout the week, Dolby brings to life the latest innovatio...
02/05/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
01/05/2026
January 5 2026, 18:30 (PST) NBCUniversal's Peacock to Be First Streamer to ...
06/04/2026
Michigan legends bring a new voice to the broadcast as TNT Sports and CBS Sports...
06/04/2026
From high school sports all the way up to the major leagues, building high-quali...
06/04/2026
Quickplay, an AI company for the media and entertainment industry, has been accepted into the Advanced tier of the TwelveLabs Ecosystem Partner Program. Quickpl...
06/04/2026
Grass Valley has announced the Future Playmakers Program, a global initiative to...
06/04/2026
El l der de operaciones impulsa la producci n en estudio mientras encuentra insp...
06/04/2026
The ops leader helps lead the charge in studio for the Spanish-language broadcas...
06/04/2026
Behind The Mic provides a roundup of recent news regarding on-air talent, includ...
06/04/2026
The National Hockey League (NHL), in partnership with Verizon and the New Jersey Devils, today announced the opening of the NHL Innovation Lab powered by Verizo...
06/04/2026
Rock League, a new professional curling league, has announced that ESPN+ will stream its inaugural 2026 season for fans in the United States. The first Rock Lea...
06/04/2026
Advanced Systems Group has announced the appointment of Andrea (Andy) Cummis as Vice President of Systems Design and Engineering. In this role, she will lead de...
06/04/2026
Backed by Bolt Ventures, the venture brings Bryson DeChambeau, Grant Horvat, and...
06/04/2026
With this environment we can start that collaboration even earlier because we ca...
06/04/2026
Like the immortal lives of vampires, some stories never really end. That's t...
06/04/2026
As podcasting continues to evolve, growth increasingly means building beyond aud...
06/04/2026
Multiband dynamics plug-in enhanced
California-based developer FSK Audio have released a significant update for their innovative multiband dynamics processo...
06/04/2026
Share official & user-created full-rig presets
IK Multimedia's latest TONEX update makes it possible for users of the popular amp and effects modelling ...
06/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/04/2026
Dalet Showcases Dalia Agentic AI and End-to-End Media Workflows at NAB Show 2026
Brie Clayton April 6, 2026
0 Comments
Dalet, a leading technology and...
06/04/2026
OpenDrives Shows Off Sports Expertise in Sports Business Hub located in NAB Show...
06/04/2026
Proton to Demonstrate 3D Application at NAB 2026
Brie Clayton April 6, 2026
0 Comments
Yet further creative potential unleashed through innovation in ...
06/04/2026
Autoscript Highlights Voice-Driven Prompting and PTZ Solutions at NAB 2026
Brie Clayton April 6, 2026
0 Comments
Experience Autoscript Voice, PTZ prom...
06/04/2026
Mediaproxy Highlights Significant Enhancements to its LogServer suite at NAB Sho...
06/04/2026
Wayne, N.J., April 6th, 2026 Phantom High-Speed announces the release of PCC 4...
06/04/2026
April 6th, 2026
TRIBECA STUDIOS AND LILLY ANNOUNCE WINNERS OF INAUGURAL VITAL...
06/04/2026
Back to All News
Netflix Expands Kids Entertainment Lineup With Playground App ...
05/04/2026
Tackles all reported bugs!
SoundBridge have just announced the launch of a new update that introduces a couple of minor changes to their remote collaboratio...
04/04/2026
The University of Arizona's Men's Basketball team has only loss twice th...
04/04/2026
1080p HDR arrives, a new generation of storytelling tools takes center stage, an...
04/04/2026
Michigan legends bring a new voice to the broadcast as TNT Sports and CBS Sports...
04/04/2026
Faster, cleaner and more intuitive than ever
The control software for Flock Audio's digitally controlled patchbay systems has just been treated to an up...
04/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/04/2026
DHD Introduces AI-Based Audio Noise Reduction to XD3 IP Core
Brie Clayton April 3, 2026
0 Comments
The accompanying image shows the rear panel of the ...
04/04/2026
Macnica Redefines ST 2110 Flexibility with Two Speeds on One Card
Brie Clayton April 3, 2026
0 Comments
New for NAB Show 2026, MEP100 SmartNIC now sup...
04/04/2026
Unified Media Workflows for Story-Centric Production
Brie Clayton April 3, 2026
0 Comments
Framelight X unifies field capture, editing and publishing ...
03/04/2026
Michigan's Fab Five will reunite for an alternate presentation of the Mich...
03/04/2026
Avid will exhibit at NAB Show 2026 (April 18-22, Booth N2226, Las Vegas Convention Center), demonstrating its Content Core platform and new AI-driven workflow c...
03/04/2026
Mark Roberts Motion Control (MRMC) has announced the appointment of Nick Barthee as Chief Operating Officer.
The announcement follows MRMC's transition fro...
03/04/2026
Interra Systems has announced that Elite Media Technologies has selected its BATON file-based QC solution for media workflows. Elite Media Technologies speciali...
03/04/2026
Ateme has announced that Moldtelecom has deployed Ateme technologies across its streaming workflow, covering encoding, delivery, operations, and analytics.
Mol...
03/04/2026
Grass Valley will demonstrate Framelight X, its content management platform, at NAB Show 2026. The platform connects capture, ingest, editing, and publishing in...
03/04/2026
Encompass Digital Media and Techex have announced a cloud-native Master Control ...
06 Feb 2023
