Sony Pixel Power calrec Sony

VEON CEO letter to investors and partners

15/03/2022

15 Mar 2022

VEON CEO letter to investors and partners Amsterdam, 15 March 2022 -VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, has today, given the recent market volatility, provided our investors and partners with an update on our business setting out how we are successfully navigating through the current turbulence.

In the update, VEON's Chief Executive Officer Kaan Terzio lu comments on the following points:

Strong liquidity profile

Our business is strong, and we are well placed to weather the current storm.

The credit rating agencies define our liquidity margin as strong (Fitch) and sound (S&P). At the end of February 2022, VEON had USD 2.1 billion in cash and deposits, of which USD 1.5 billion at headquarters, held with international banks from the European Union, the United States and Japan. On top of that, VEON has a USD 1.25 billion committed revolving credit facility available to it (of which USD 820 million remains undrawn) from a group of diversified lenders headquartered in the United States, Europe and Asia.

On 1 March 2022, VEON repaid USD 417 million of maturing bonds, and on 9 March 2022 it pre-paid and closed a RUB 30 billion (approximately USD 259 million) interest-bearing loan with VTB Bank. Following this payment to VTB, VEON has no further loans outstanding with VTB. VEON has no additional debt maturities at its HQ level for the rest of 2022. We will of course continue to maintain financial discipline, underpinned by our strong liquidity position and our resilient operating profile.

VEON is a global telecoms operator

We are proud to provide to our 218 million customers connectivity and digital services. These are essential for a combined population of 680 million in the nine countries where we operate. We continue to execute on our Digital Operator strategy across our markets, pursuing all growth opportunities enabled by our Digital Products portfolio. VEON shares are listed on NASDAQ in New York and EuroNext in Amsterdam. Our company is run by a diverse and international management team, with oversight from an independent Board of Directors. We have a globally diverse investor base, comprising of shareholders from around the world, and with no single controlling shareholder. VEON employs more than 60,000 people worldwide.

Confident legal position

I want to be absolutely clear: VEON is not the subject of any sanctions imposed by the European Union, the United States or the United Kingdom, and our counterparties' ability to continue to do business with us has not been impacted by these measures. We have received numerous questions regarding sanctions against a former director and indirect shareholders of VEON, so let me also address that particular concern. Following the imposition of sanctions on Mikhail Fridman and Petr Aven on 28 February 2022 by the Council of Europe, Mr. Fridman has resigned from his position as a member of the Board of VEON. Mr. Fridman and Mr. Aven have also resigned from their positions as members of the Boards of Directors of LetterOne Investment Holdings S.A., LetterOne Holdings S.A. and LetterOne Core Investments S.a.r.l. ( LetterOne ). Furthermore, I would underscore that LetterOne does not have a controlling shareholding stake in VEON-neither as a matter of governance nor as the concept of control as interpreted under applicable law.

Protecting our employees and customers

We have been taking specific actions and will be doing all that is in our power to protect the safety of our employees and their families affected by the conflict. We continue contributing to humanitarian support across all our countries. And our technology is more relevant and necessary to our customers than ever before, ensuring continued connectivity, access to information, and it is also being used to help millions of displaced people and locate missing persons.

Committed to further engagement with our stakeholders

In closing, VEON's Chief Executive Officer Kaan Terzio lu notes, Continued engagement with our stakeholders is more important than ever. We deeply value our relationship, and we will continue to maintain an open dialogue, providing you with timely, accurate and relevant information about VEON's strategy, plans and performance .

About VEON

VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services. For more information visit: www.veon.com

Disclaimer

This press 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 sufficiency of VEON's liquidity to meet its obligations, the impact of further sanctions imposed by the European Union, the United States or the United Kingdom, the safety of our employees and customers, and continued engagement with our stakeholders. 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, any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.

Contact information

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 fi
LINK: https://www.veon.com/media/media-releases/2022/veon-ceo-letter-to-inve...
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...

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...

07/08/2026

Riedel To Demo 'Live Production Experience At IBC 2026

Share Copy link Facebook X Linkedin Bluesky Email...

07/08/2026

LTN Enhances Live Event Master Control Capabilities

Share Copy link Facebook X Linkedin Bluesky Email...

07/08/2026

AI-Native Film Studio Launches in Toronto

Share Copy link Facebook X Linkedin Bluesky Email...

07/08/2026

Judge Orders Removal of Nexstar Employees from Tegna Board

Share Copy link Facebook X Linkedin Bluesky Email...

07/08/2026

Riedel Communications at IBC2026 Live Production Experien...

Riedel Communications at IBC2026: Live Production Experience Showcasing Integrated IP Production Workflows At IBC2026, Riedel Communications will bring modern ...

07/08/2026

Shotoku Showcases Expanding Aura PTZ Ecosystem and Award-...

Shotoku Showcases Expanding Aura PTZ Ecosystem and Award-Winning Swoop Robotic Crane at IBC2026 Shotoku Broadcast Systems will officially introduce its Aura fa...

07/08/2026

Cobalt Digital to Bring New and Enhanced Practical Soluti...

Highlights will include new Dante fiber connectivity, expanded IPMX capabilities and award-winning signal processing solutions Cobalt Digital, the leading des...

07/08/2026

Bob Moses Concert at Red Rocks Captured with URSA Cine 12K LF

Bob Moses Concert at Red Rocks Captured with URSA Cine 12K LF Brie Clayton August 6, 2026 0 Comments PYXIS 12K and URSA Cine 12K LF enable cinematic c...

07/08/2026

Use It or Else Is Not an AI Implementation Strategy

Use It or Else Is Not an AI Implementation Strategy Andy Marken August 6, 2026 0 Comments Source - Hitchhikers Guide to the Universe, Touchstone Pi...

07/08/2026

Major transformation of UK digital radio platform

Migration of more than 1,000 radio services delivers improved resilience, efficiency and sustainability 07 August 2026, Winchester, UK Arqiva, the UK's l...

07/08/2026

Commission accelerates IRIS deployment with enhanced security and expanded satellites network

On 6 August, the European Commission and the SpaceRISE consortium concluded nego...

07/08/2026

A date worth betraying your plans for The Traitors Ireland returns to screens Sunday, 30 August

The Traitors Ireland Uncloaked is also back with all the behind the scenes drama...

06/08/2026

USA Sports Rolls Into 2026 NASCAR Season With First Pace-Car Analyst on Selected Races

The broadcaster's 14-race schedule begins in Iowa and ends in November with ...

06/08/2026

SVG GameDay, Ep. 25: Chicago Bears Katlin Strange - Serving the Masses in the Windy City

In-venue and creative video staffers at the professional and collegiate level ha...

06/08/2026

Warner Bros Discovery's Anne Graham Details the Organization's Media-Ops and Metadata Consolidation Across Sports and Entertainment

As media organizations consolidate teams, technology platforms, and content libr...

06/08/2026

Dolby Vision 2 Begins Rollout on Selected 2026 Hisense TVs

Firmware updates introduce Dolby's next-generation picture engine, content-aware optimization, and new motion and ambient-light tools...

06/08/2026

TNT Sports Preps Wall-to-Wall Coverage of FIBA Women's Basketball World Cup 2026 from Sept. 4-13

TNT Sports will have wall-to-wall coverage of the upcoming FIBA Women's Bask...

06/08/2026

IBC 2026: swXtch.io Introduces groundSwXtch Software-Defined Multicast Overlay

swXtch.io (Stand 5.MR13) has unveiled groundSwXtch for Audio over IP (AoIP), a software application that lets broadcasters and media organizations move audio in...

06/08/2026

IBC 2026: Riedel Communications Showcases Integrated IP Production Workflows

At IBC2026, Riedel Communications (Stands: 10.A24, 10.A31, 10.A38) will bring modern media production to life with the Live Production Experience - a connected ...

06/08/2026

Sandy Grossman's Legacy as a Pioneering Director Earns Pro Football Hall of Fame's Pete Rozelle Award

The first live-sports director to receive the prestigious honor, eight-time Emmy...

06/08/2026

NBC Sports, Maryland Jockey Club Continue Partnership To Present Preakness Stakes Through 2032

NBC Sports will continue to present the Preakness Stakes on NBC and Peacock thro...

06/08/2026

IBC 2026: Cobalt Digital Brings New Practical Solutions to Evolving Broadcast Workflows

Cobalt Digital (Stand 8.F90) continues to reinforce its commitment to delivering...

06/08/2026

Wave Central Elevates Jeff Daubert to Director of Sales, Americas

Wave Central has promoted promotion Jeff Daubert to Director of Sales, Americas. In his expanded role, Daubert will lead Wave Central's sales strategy and ...

06/08/2026

KMH Integration Adds Architect Keith Hanadel to Expanding Full-Services Team

KMH Integration is expanding its ability to serve media, broadcast, and IT organizations by adding Keith Hanadel, an accomplished architect with decades of indu...

06/08/2026

Advanced Systems Group Promotes Michele Ferreira to Chief Business Officer

Advanced Systems Group (ASG) has promoted Michele Ferreira from Vice President of its Systems Integration team to the newly created position of Chief Business O...

06/08/2026

IBC2026: Appear Expands X, VX Platforms for Hybrid Live-Production Workflows

Demonstrations will include new JPEG XS, Dolby audio, cloud-gateway, stream-processing, and distribution capabilities...

06/08/2026

Live Media Group Acquires Gravity Media's U.S. Mobile-Production Assets, Adds Eight Units to Fleet

The deal includes three premium mobile units, engineering personnel, existing br...

06/08/2026

Broadcast Management Group, LiveU Power Vertical REMI Production for Amazon Prime's Obsessed Fest on TikTok

Broadcast Management Group produced Amazon Prime's inaugural Obsessed Fest a...

06/08/2026

IBC2026: Ikegami to Showcase Expanded UNICAM Camera and Monitoring Lineup

Exhibit will feature new variable-ND functionality, OLED viewfinders, remote-camera tools, and UHD production monitors...

06/08/2026

Sony Introduces FE 100-400mm Super-Telephoto Zoom Lens

Compact full-frame E-mount lens targets sports, wildlife, and other long-range shooting applications...

06/08/2026

Tennis Channel Lands Exclusive U.S. Coverage of 2026 International Tennis Hall of Fame Induction Ceremony

Live broadcast will honor Roger Federer and Mary Carillo on Aug. 29, with onsite...

06/08/2026

UTEP Upgrades Sun Bowl Stadium Video Display With Daktronics

End-zone board receives higher-resolution LED technology and an updated Show Control system ahead of the 2026 football season...

06/08/2026

Fender launch Fender Motion controllers

New 16- and 32-pad MIDI controllers now available Fender have just announced that the two new performance-focused controllers that were unveiled at NAMM 202...

06/08/2026

Lewitt update Space Replicator plug-in

Standalone version, performance improvements & more Lewitt have just released a significant update for their speaker and room virtualisation software, intro...

06/08/2026

Hallowed Bells from ebbandflow

Combines celeste samples with synth engine After launching earlier in 2026 with deFORM, ebbandflow have returned with their first sampled acoustic instrumen...

06/08/2026

SGL Carbon: Still on track to meet its 2026 annual targets

SGL Carbon's consolidated sales in the first half of 2026 totaled 394.2 million, down 13.0% from the prior year (H1 2025: 453.2 million). On the one hand,...

06/08/2026

BritBox & BBC's Poirot Origin Series Hercule' Reveals Cast

The BBC has announced casting for the forthcoming six-part series Hercule from Mammoth Screen and Agatha Christie Limited. Joining Bluemel are Henry Ashton (A ...

06/08/2026

FCC Votes to Modify TV Station Ownership Caps

Share Copy link Facebook X Linkedin Bluesky Email...

06/08/2026

LTN Showcases Live Event Master Control Capabilities for...

Proven offering builds on more than 20,000 live sporting events with greater automation, flexibility, and operational control LTN , the industry leader in tran...