Sony Pixel Power calrec Sony

VEON confirms revised timing for effectiveness of ratio change under its American Depositary Receipt (ADR) program

07/03/2023

07 Mar 2023

VEON confirms revised timing for effectiveness of ratio change under its American Depositary Receipt ( ADR ) program Amsterdam, Netherlands, 7 March 2023 16:30 CET: VEON Ltd. (NASDAQ, Euronext Amsterdam: VEON) ( VEON or the Company ), a global digital operator that provides converged connectivity and online services, today provides an update on the timing of the ratio change under the Company's ADR program, previously announced on 6 February 2023 and originally planned to become effective on 6 March 2023 (the Ratio Change ). As announced on 6 March 2023, the Company was informed late afternoon on Friday, 3 March 2023 by BNY Mellon that the ratio change effectiveness had been postponed as The Depository Trust & Clearing Corporation ( DTCC ) was not prepared to make the new CUSIP reflecting the new ratio available on Monday, 6 March 2023 as scheduled. DTCC has now confirmed the availability of the new CUSIP, and the effective date of the Ratio Change (the Effective Date ) is now confirmed as 8 March 2023.

As previously announced with respect 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. American Depositary Share ( 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 VEON common 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.

The Company's original announcement with respect to the ratio change can be found on the Company's website at this address:

www.veon.com/newsroom/press-releases/veon-announces-ratio-change-under-its-american-depositary-receipt-adr-program

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

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 ADR ratio change. 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

Group Director Investor Relations

Nik Kershaw

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-confirms-revised-t...
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 ...

04/08/2026

Dalet Announces Commercial Availability of Dalia, Bringing Media-Aware Agentic AI to Enterprise Productions

Dalet, a leading technology and service provider for media-rich organizations, t...

04/07/2026

Detective Conan: Fallen Angel of the Highway Opens in Dolby Cinemas Across Japan, Presented in Dolby Atmos and Dolby ...

April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...

01/06/2026

Dolby Sets the New Standard for Premium Entertainment at CES 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 Flex LTS Delivers Smarter Search, Faster Editing, and an AI-Ready Foundation for Modern Media

Dalet, a leading technology and service provider for media-rich organizations, t...

01/05/2026

NBCUniversal's Peacock to Be First Streamer to Integrate Dolby's Full Suite of Premium Picture and Sound Innovations

January 5 2026, 18:30 (PST) NBCUniversal's Peacock to Be First Streamer to ...

21/04/2026

Nielsen data shows Australian outdoor and sport retailers are changing how they advertise to win over outdoor enthusiasts

Advertising strategies shift as competition grows for a large, active and qualit...

21/04/2026

ATSC Celebrates 3.0's Global Expansion

Share Copy link Facebook X Linkedin Bluesky Email...

21/04/2026

Cinematic Feel Makes Survivor' Built to Last

Share Copy link Facebook X Linkedin Bluesky Email...

21/04/2026

Live Event Technology Expands Fan Engagement

Share Copy link Facebook X Linkedin Bluesky Email...

21/04/2026

MS NOW Uses Community to Build Up Its Brand

Share Copy link Facebook X Linkedin Bluesky Email...

21/04/2026

Why Broadcast Is Well-Positioned to Safeguard Freedom of Speech

Share Copy link Facebook X Linkedin Bluesky Email...

21/04/2026

AWS Demos AI Tools to Deliver Vertical Video

Share Copy link Facebook X Linkedin Bluesky Email...

21/04/2026

Video Podcasting Leaps in Popularity

Share Copy link Facebook X Linkedin Bluesky Email...

21/04/2026

Audio Systems Get Boost From Cloud and AI

Share Copy link Facebook X Linkedin Bluesky Email...

21/04/2026

Layercake Deepens Bitmovin Integration to Power End-to-End Media Orchestration with Streamcake

Layercake Deepens Bitmovin Integration to Power End-to-End Media Orchestration w...

21/04/2026

Cobalt Digital Announces Launch of blueCORE at NAB Show 2026: Compact Powerhouse Signal Processors for SDI and ST 2110 Workflows

Cobalt Digital Announces Launch of blueCORE at NAB Show 2026: Compact Powerhouse...

21/04/2026

On-Premise AI Suite from Studio Network Solutions Debuts at NAB Show 2026

On-Premise AI Suite from Studio Network Solutions Debuts at NAB Show 2026 Melanie Ciotti April 21, 2026 0 Comments Unlimited processing, no cloud depe...

21/04/2026

IBC appoints Tim Banham as Chief Commercial Officer to dr...

London, 21 April 2026 IBC today announced the appointment of Tim Banham as its first Chief Commercial Officer (CCO), a newly created role that reflects the or...

21/04/2026

Motion Design Tools - April 2026

Motion Design Tools - April 2026 Roland Kahlenberg April 21, 2026 0 Comments Within 2 days, Maxon and Canva announced pro-level motion design apps - A...

21/04/2026

Chaos and Zero Density to Showcase Real-Time Ray Tracing for Virtual Studios and XR

Chaos and Zero Density to Showcase Real-Time Ray Tracing for Virtual Studios and...

21/04/2026

Diversified Appoints Tyler Affolter Chief Revenue Officer

Share Copy link Facebook X Linkedin Bluesky Email...

21/04/2026

TV Azteca to Bring Dolby Atmos to Free-To-Air TV in Mexico

Share Copy link Facebook X Linkedin Bluesky Email...

21/04/2026

Maxon Announces Free Tools and Mobile Expansion of ZBrush...

Cinema 4D brings professional 3D workflows to iPad. The return of Autograph now free for individual users. ZBrush expands to Windows on Arm. See it all at NAB...

21/04/2026

Bitfocus improves availability, security and user managem...

Software version 1.6 extends enterprise functionality to place Buttons at the heart of media operations at any scale Bitfocus, the Norwegian software develope...

21/04/2026

Cobalt Digital Announces Launch of blueCORE at NAB Show 2...

Cobalt Digital Announces Launch of blueCORE at NAB Show 2026: Compact Powerhouse Signal Processors for SDI and ST 2110 Workflows Compact, multi-function stan...

21/04/2026

Applications open for 2026 AISF and Screen Australia Writer/Director Virtual Sessions

Applications open for 2026 AISF and Screen Australia Writer/Director Virtual Ses...

21/04/2026

Comscore Continues Building Momentum in Local Measurement Through New Agreements with More than 15 Clients

Comscore Continues Building Momentum in Local Measurement Through New Agreements...

21/04/2026

Cultivating creativity: Super Garden is back for another season

Summer is nearly here and Super Garden is returning to our screens to spark some gardening inspiration. The new series kicks off on Thursday 23 April at 7pm on ...

20/04/2026

Live From NAB 2026: Sonys Hugo Gaggioni Highlights HDR Advances, Software-Defined Workflows

At the 2026 NAB Show, Sony is showcasing a broad slate of innovations across liv...

20/04/2026

Live From NAB 2026: Fujinons Stosh Durbacz on Expanding the 4K Broadcast Lens Lineup With New Portable Zooms, 94x Box Lens

Fujifilm is sharpening its focus on core broadcast production with a new wave of...

20/04/2026

Live From NAB 2026: Rock-It Sports' John Walberg on Powering Logistics, Shipping for the 2026 FIFA Men's World Cup

This upcoming summer in North America is going to be a busy one. The 2026 FIFA M...

20/04/2026

NAB 2026: Glookast outlines product updates including Media Producer UX, connectors and Premiere Pro panel

Glookast (Booth W1661) announced a series of product updates at NAB Show 2026, c...

20/04/2026

NAB 2026: Matrox Video and Amagi collaborate on cloud-based broadcast workflows using ORIGIN framework

Matrox Video and Amagi announced a collaboration to integrate the Matrox ORIGIN ...

20/04/2026

NAB 2026: Riedel SimplyLive supports expanded centralised VAR system for Argentina football league

Riedel Communications (Booth C4908) announced that the Asociaci n del F tbol Arg...

20/04/2026

NAB 2026: Ikegami introduces VFE-P07D OLED viewfinder with integrated LCD monitor

Ikegami (Booth C3819) announced the VFE-P07D monocular OLED viewfinder at NAB Sh...

20/04/2026

NAB 2026: IABM rebrands as IAMT and launches AI discovery platform and global alliance

International Association of MediaTech (IAMT), formerly known as IABM, announced...

20/04/2026

NAB 2026: Harmonic supports DIRECTV DTH platform upgrade with VOS Media Software

Harmonic (Booth W2831) announced that DIRECTV is updating its US direct-to-home (DTH) video platform using Harmonic's VOS Media Software. The deployment is...

20/04/2026

NAB 2026: Wasabi Technologies acquires Seagate Lyve Cloud business

Wasabi Technologies announced that it has acquired the Lyve Cloud business from Seagate Technology. As part of the agreement, Seagate received equity in Wasabi ...

20/04/2026

NAB 2026: EVS introduces Choreon robotics orchestration platform for unified production control

EVS (Booth N1841) has launched Choreon, a robotics controller for media producti...

20/04/2026

SportsTechBuzz at NAB 2026, Day 2: Live Reports From the Show Floor in Vegas

The NAB Show is in full swing, and the SVG and SVG Europe editorial teams are chasing down the hottest stories from all over the Las Vegas Convention Center. He...

20/04/2026

NAB 2026: Skyline Communications launches DataMiner packages on Grass Valley AMPP App Store

Skyline Communications announced the availability of its DataMiner xOps platform...

20/04/2026

NAB 2026: SNS launches Outpost, Trio and AI Suite for connected post-production workflows

Studio Network Solutions (Booth N1129) introduced a set of new products at NAB S...

20/04/2026

NAB 2026: Dell Technologies and NVIDIA present AI data platform for media workflows

Dell Technologies is showcasing its Dell AI Data Platform with NVIDIA at NAB Sho...

20/04/2026

NAB 2026: Blackmagic Design Announces Fairlight Live Software Audio Mixer

Blackmagic Design has announced Fairlight Live, a software-based live audio mixer with SMPTE 2110 support and spatial audio mixing. A public beta is available n...

20/04/2026

Live From NAB 2026: Imagine Comms Jimbo Haneklau Talks Prismon, Hybrid IP/SDI Workflows, and Cloud Playout

At the 2026 NAB Show in Las Vegas, Imagine Communications VP of Sales, Sports an...

20/04/2026

Live From NAB 2026: LiveUs Phillip Broaddus on LU900Q Launch, Nexus Cloud Platform, and REMI Growth

At the 2026 NAB Show in Las Vegas, LiveU Senior Director of Sales, Sports Philli...

20/04/2026

3 New Ways to Dive Deeper Into the Music You Love

A song that perfectly captures a moment is magic. But when you uncover the story behind it, who made it, what inspired it, and the meaning woven into the lyrics...

20/04/2026

Deity Microphones announce the PR-4

Ultra-compact 32-bit recorder set for launch Deity Microphones will soon be launching a new 32-bit six-track recorder that's been designed with producti...