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
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 ...
01/04/2026
January 4 2026, 18:00 (PST) DOLBY AND DOUYIN EMPOWER THE NEXT GENERATON OF CREATORS WITH DOLBY VISION
Douyin Users Can Now Create And Share Videos With Stun...
26/03/2026
Extron and Audio-Technica have announced that their Design Solutions devices, Ce...
26/03/2026
SPORTEL Asia took place March 24-25 at the Orchard Hotel Singapore, drawing 370 participants representing more than 220 companies from 35 countries. Approximate...
26/03/2026
LTN will demonstrate satellite-to-IP migration solutions for broadcasters, cable networks, MVPDs, and station groups at NAB Show 2026 (Booth W2100).
The C-Ban...
26/03/2026
The Seattle Mariners have partnered with Daktronics to install an upgraded outfi...
26/03/2026
The Esports Foundation (EF) has awarded National Team Partner status to organizations and individuals across more than 100 countries and territories for the Esp...
26/03/2026
Telestream has announced expanded integration between its Vantage workflow platf...
26/03/2026
FOR-A Corporation has announced a partnership with Nippon TV and NVIDIA to distr...
26/03/2026
CBS Sports and the WNBA have expanded their partnership through a new long-term, multiplatform rights agreement. CBS Sports will feature up to 20 regular-season...
26/03/2026
Zac Brown Band will star in the Sunday Night Baseball show open on NBC and Peacock, NBC Sports announced. The open was filmed at American Family Field, home of ...
26/03/2026
Major League Baseball opens the 2026 season with nationally televised games across multiple media partners. Fans can visit MLB.com/Watch for a complete schedule...
26/03/2026
DIRECTV has announced an agreement to carry nine new MLB-operated team channels, covering the Cincinnati Reds, Detroit Tigers (Detroit SportsNet), Kansas City R...
26/03/2026
Nationals.TV, the Washington Nationals' local broadcast channel, is now avai...
26/03/2026
Starting Thursday, March 26, MLB.TV will be available on the ESPN App, giving fans access to more than 2,000 out-of-market regular season games. Fans can also r...
26/03/2026
Spotify's partnership with NAVER, Korea's leading digital platform, is built around one simple goal: making it easier for listeners in Korea to discover...
26/03/2026
Exclusive to ComposerCloud for first month
Sample library and virtual instrument gurus EastWest have announced the upcoming release of a new virtual drum i...
26/03/2026
Friday 27 March
Friday 27 March will mark Dynamic Range Day 2026, the annual day of online activity that was started in 2010 by mastering engineer Ian Sheph...
26/03/2026
Includes four separate instruments
Max Richter's SRM Sounds venture have just announced their fifth release, ASMR Choir. Captured at the main live room ...
26/03/2026
The National Film and Video Foundation (NFVF), an agency of the Department of Sport, Arts and Culture (DSAC), has been tasked with administering the Sixth Presi...
26/03/2026
By Matt Klein
Hello to everyone reading this - whether you're a current YEP, HPA member, or just YEP-curious. I'm Matt Klein, one of the co-chairs of t...
26/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
26/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
26/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
26/03/2026
28 participating companies, from start-ups to blue-chips, lead the UK Group as part of the GREAT Britain and Northern Ireland presence across all the Halls at N...
26/03/2026
Arkona Unveils BLADE//planner and Major Usability Enhancements at NAB 2026
Brie Clayton March 26, 2026
0 Comments
New graphical configuration tool and...
26/03/2026
Bitfocus showcases complete control at NAB Show 2026
Brie Clayton March 26, 2026
0 Comments
Continuing development drives advances in security, availa...
26/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
26/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
26/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
26/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
26/03/2026
Nevion introduces powerful new Panel Builder to enhance VideoIPath broadcast con...
26/03/2026
2026 Oscar Nominated Films Powered by Blackmagic Design
Brie Clayton March 25, 2026
0 Comments
DaVinci Resolve Studio used on 27 of this year's no...
26/03/2026
Leader to present full suite of advanced Test & Measurement solutions at NAB Sho...
26/03/2026
Boston Conservatory to Present New England and Collegiate Premiere of Groundbrea...
26/03/2026
Thursday 26 March 2026
HBO Max included for Sky and NOW customers from 26 March...
26/03/2026
Thursday 26 March 2026
Sky Sets Iconic Costumes Dancing Together Like Never Before' in Brand CampaignTurn on cookies to view this content. Go to Privacy o...
26/03/2026
Wuppertal March 26, 2026
CS live Builds Future-Ready OB Van With Riedel MediorNet and hi Control SystemRiedel Communications today announced that Czech-based ...
26/03/2026
Back to All News
Have a Wish Worth Dying For? Netflix's First Korean YA Hor...
26/03/2026
Back to All News
The Truthers, Starring Jose Coronado and St phanie Magnin, Pre...
26/03/2026
Enhancements to Harmonic's Sports Streaming Solution Introduce Server-Side Multiview, Contextual Metadata-Driven Advertising, Dynamic In-Stream Ads and Robu...
26/03/2026
Open the report
Our 2025 report brings together results from 79 business magazine titles across 22 market sectors, published by 49 media owners. Over the year,...
26/03/2026
Editor's note: This post is part of Into the Omniverse, a series focused on ...
26/03/2026
RT Commercial today announced Fiat as sponsor of The Louise Duffy Show on RT Radio 1, Weekdays 3pm 4pm.
The Louise Duffy Show is the home of daytime music...
26/03/2026
That gaming backlog won't clear itself - GeForce NOW is here to help. Stream the latest titles straight from the cloud across a variety of devices.
This we...
26/03/2026
Wayne, N.J., March 26, 2026 Phantom High-Speed announces the latest product li...
07 Mar 2023
