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...
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...
07/01/2026
SVG Summit 2025: All General Sessions Now Available to Watch on SVG PLAYThe SVG Summit celebrated its 20th edition with a loaded agendaBy Brandon Costa, Directo...
07/01/2026
NBCU's Brings Rinkside Live' and Courtside Live' Features to Peaco...
07/01/2026
Spotify is launching a week-long celebration spotlighting creators at the center...
07/01/2026
We know people use Spotify not just to listen, but to share the songs, podcasts, and audiobooks they love with their friends and family. When we launched Messag...
07/01/2026
This week, all eyes are on the podcast industry as the Golden Globes recognizes ...
07/01/2026
Podcasts are stepping onto a new stage this week as the Golden Globes recognize the medium for the first time. To mark this milestone moment, we're hosting ...
07/01/2026
The National Film and Video Foundation (NFVF), in collaboration with a distributor, is commissioning new micro-budget fiction feature films and invites eligible...
07/01/2026
NASA's Space Launch System rocket carrying the Orion spacecraft launches on the Artemis I flight test, Wednesday, Nov. 16, 2022, from Launch Complex 39B at ...
07/01/2026
For the first time ever, new C' variants allow international users to interoperate with U.S. personnel via NSA-certified cryptography....
07/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
07/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
07/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
07/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
07/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
07/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
07/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
07/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
07/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
07/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
07/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
07/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
07/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
07/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
07/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
07/01/2026
Abu Dhabi, UAE 7, January 2026 - Abu Dhabi Police and Space42 (ADX: SPACE42), ...
07/01/2026
Back to All News
The Trailer of Paparazzi King: The 5-Episode Docuseries Coming...
07/01/2026
Back to All News
Netflix Supports Warner Bros. Discovery Board's Commitment...
07/01/2026
Back to All News
What Next? Netflix Reveals Series, Films and Games Coming in 2026
Entertainment
07 January 2026
Global
Link copied to clipboard
Download ...
07/01/2026
AI has transformed retail and consumer packaged goods (CPG) operations, enhancin...
06/01/2026
Peacock Bringing Dolby Vision and Dolby Atmos to Live Sports ContentPeacock is the first streamer to embrace Dolbys full suite of advanced picture/sound innovat...
06/01/2026
SVG Europe Audio: Listening to the sounds of powder and ice at Milano Cortina wi...
06/01/2026
Quintar Meta Spatial SDK Integration Promises Next-Level XR ExperiencesBy Ken Kerschbaumer, Editorial Director
Tuesday, January 6, 2026 - 9:41 am
Print This...
06/01/2026
Milano Cortina 2026: BBC Sport Previews Broadcast Ops, Studio Setup, Social Medi...
06/01/2026
Dolby's Jason Power on Elevating Live Sports Through Immersive Audio and HDR...
06/01/2026
DAZN's Global CRO Walker Jacobs on the Streamer's Breakout Year in the U...
06/01/2026
California Dreamin': LA28's SVP of Media Jim Bell Previews the Olympic a...
06/01/2026
One Month Out From Winter Olympics Opening Ceremony, NBC Sports in Final Prep fo...
06/01/2026
Advanced HDR by Technicolor and Zinwell Integrated onto ATSC 3.0 Conversion Boxe...
06/01/2026
Fox Sports President and COO Mark Silverman Shifts to Consulting RoleBy Ken Kerschbaumer, Editorial Director
Tuesday, January 6, 2026 - 2:37 pm
Print This S...
06/01/2026
Spotify is launching a week-long celebration spotlighting creators at the center...
06/01/2026
Lorde. A$AP Rocky. JENNIE. Baby Keem. KATSEYE. That's just a taste of who...
06/01/2026
In a live broadcast, L3Harris CFO and Missile Solutions President Ken Bedingfield joined Morgan Brennan on CNBCs Closing Bell: Overtime. Bedingfield discussed...
06/01/2026
First-of-its-kind SSP capability delivers program-level insight and brand suitab...
06/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
07 Mar 2023
