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 ...

09/10/2026

Dolby Expands Dolby OptiView Platform with New Capabilities at IBC 2026

September 10 2026, 06:00 (PDT) Dolby Expands Dolby OptiView Platform with New Capabilities at IBC 2026 New Sports Intelligence helps providers better unders...

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...

11/09/2026

IBC 2026: Calrec Launches Type RT Console and Apex M6 Modular I/O Platform

Calrec will introduce two new products at IBC2026 (Stand 8.C47, RAI Amsterdam, September 11-14): the Type RT broadcast production console and the Apex M6 Modula...

11/09/2026

IBC 2026: Grass Valley Launches AVORA All-in-One Live Production Platform

Grass Valley has announced AVORA, a standalone all-in-one live production solution launching at IBC2026 (Booth 9.A01 and IBC Future Tech Zone, Stand 14.C49, Sep...

11/09/2026

IBC 2026: CAMB.AI Launches Streaming SDK and Dashboard for Multilingual Live Broadcasting

CAMB.AI is introducing its Streaming SDK and Streaming Dashboard at IBC2026, wit...

11/09/2026

IBC 2026: EVS Launches XT-S Software-Defined Multi-Application Server

EVS has announced XT-S, a software-defined server platform that runs multiple live production applications on a common hardware foundation. The platform debuts ...

11/09/2026

IBC 2026: EKT Showcases Linux-Based ATSC 3.0 Converter Box

EKT is demonstrating a new Linux-based ATSC 3.0 set-top box at IBC2026. The second-generation product moves away from Android to reduce memory costs, with Linux...

11/09/2026

IBC 2026: Sennheiser Group to Showcase Wireless, Monitoring, and Broadcast Workflow

The Sennheiser Group will exhibit at IBC2026 (Hall 8, Booth D50, September 11-14...

11/09/2026

Ludacris Joins Chris Stapleton and Cindy Blackman Santana for Monday Night Footballs In the Air Tonight Open

ESPN's Monday Night Football will open its 2026-27 season with a new renditi...

11/09/2026

Dalet Integrates NVIDIA Synthetic Content Detection into Dalet Flex

Dalet has announced an integration of NVIDIA's Synthetic Video Detector AI model into Dalet Flex, enabling media organizations to identify potentially AI-ge...

11/09/2026

IBC 2026: MC-IF Demonstrates VVC Capabilities

The Media Coding Industry Forum (MC-IF) will demonstrate Versatile Video Coding (VVC) capabilities at IBC2026 (Hall 2, Stand 2.B13), as the codec moves toward c...

11/09/2026

IBC 2026: Sony to Demonstrate Live, News, Cinema, and Immersive Production

Sony will exhibit at IBC2026 (Hall 13, September 11-14), demonstrating products across live production, news, cinema, and immersive and spatial content workflow...

11/09/2026

Wave Central Named Recipient of 2026 Technology and Engineering Emmy for FPV Drone Systems

Wave Central, a Domo Broadcast Company, has been named a recipient of a 2026 Tec...

11/09/2026

IBC 2026: SNS Validates EVO Compatibility With Avid Media Composer 2026.8, Adds Browser-Based Upload to Outpost

Studio Network Solutions (SNS) is bringing a pair of workflow updates to IBC2026...

11/09/2026

IBC 2026: iodyne to Demo Pro Mini Smart Drive Across Four Partner Booths

iodyne will co-exhibit with Hedge at IBC2026 (Booth 7.A36, September 11-14) and appear across three additional partner booths, marking the first public demonstr...

11/09/2026

SVG GameDay, Ep. 30: Freelance Graphics Operator Corinne Yamada - Philly-Based Graphics Creation

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

11/09/2026

CBS Sports Goes HDR Across Its Entire NFL Package, Heads to Rio in Week 3

The network will phase in HDR crew by crew while expanding Next Gen Stats integration, SkyDry availability, and onsite studio shows...

11/09/2026

IBC 2026: CAMB.AI Unveils the World's First Multilingual Broadcasting Agent Powered by NVIDIA

CAMB.AI is introducing its new Streaming SDK and Streaming Dashboard at IBC2026,...

11/09/2026

Netflix Goes Down Under With NBC Sports, NEP for NFL From Melbourne

Massive host operation at Melbourne Cricket Ground featured 54 cameras, 25,000 ST 2110 flows, REMI studio production in Stamford, and global distribution to mor...

11/09/2026

FOX Sports Homogenizes Coverage With Upscaled Game Tech, Seamless Integration With Studio Shows in L.A.

Production Anywhere Remote Kit (PARK) & AR-fueled Stage B are two key pieces to ...

11/09/2026

Get to Know This Fall and Winter's Filmmakers Through These 36 Sundance Institute-Supported Films

By Ramona Flume and Lucy Spicer There's a particular kind of magic that hap...

11/09/2026

Film Festival Watch: 8 Sundance Institute-Supported Films to See at the 2026 Toronto International Film Festival

By Jessica Herndon The fall film season is kicking off, and Sundance Institute-...

11/09/2026

Positive Grid announce the Spark Pedal

Spark series gains compact modelling stompbox Positive Grid's Spark amps have become a popular part of the company's line-up, offering a convenient ...

11/09/2026

Rapid Flow release omniGRID

New flagship sequencing plug-in revealed Rapid Flow have just launched a new 16-track sequencer plug-in which they say has been designed for total rhythmic...

11/09/2026

Rohde & Schwarz unveils the air-cooled R&STM1 medium-power UHF transmitter at IBC 2026

Rohde & Schwarz unveils the air-cooled R&S TM1 medium-power UHF transmitter at I...

11/09/2026

TV Usage Kicks Usual Summer Slowdown, Fueled by World Cup and Streaming in Nielsen's July Gauge Reports

FIFA World Cup 2026 and Peacock's Love Island USA' Power NBCU-Versant ...

11/09/2026

Atomos Debuts New HDR Monitors at IBC2026

Share Copy link Facebook X Linkedin Bluesky Email...

11/09/2026

Calrec to Unveil Type RT Compact Console at IBC2026

Share Copy link Facebook X Linkedin Bluesky Email...

11/09/2026

Lightware Launches LARA 2 with New Architecture for More...

Lightware has announced the launch of LARA (Lightware Advanced Room Automation) 2.0, a major upgrade to its built-in room automation platform, introducing impro...

11/09/2026

MusiMap launches latest technology unlocking new commerci...

10 September 2026 - MusiMap, the B2B music intelligence company that is transforming how companies can harness the emotional power of music to reach consumers a...

11/09/2026

Matrox Video Integrates Matrox ORIGIN with NVIDIA Holosca...

Matrox Video today announced an integration between Matrox ORIGIN and NVIDIA Holoscan for Media, enabling Matrox ORIGIN media services to be provisioned, config...

11/09/2026

Net Insight brings cloud-native live media orchestration...

Net Insight today announced that its cloud-native live media orchestration is now available through Oracle Cloud Marketplace, providing broadcasters, production...

11/09/2026

Calrec to Unveil Type RT Compact Console at IBC 2026

Share Copy link Facebook X Linkedin Bluesky Email...

11/09/2026

Biggest functionality boost yet makes Buttons the perfect...

Version 1.8 will bring advanced routing control, new workflow tools, boosted control panel flexibility and ease of integration into IP networks...

11/09/2026

Ikegami Announces Four New UNICAM XE Series Cameras

Ikegami announces four additions its UNICAM XE range of 4K-UHD cameras with the introduction of the UHK-X700VN, UHK-X750VN, UHK-X600VN and UHK-X650VN. Developed...

11/09/2026

DHD Launches New MX3 Consoles - Modular to the Core

DHD.audio has chosen IBC2026 as the launch venue for a major new addition to its broadcast sound production platform: the MX3 console range. MX3 retains the mod...

11/09/2026

Sony To Showcase Latest Production Technology At IBC2026

Share Copy link Facebook X Linkedin Bluesky Email...

11/09/2026

EKT To Feature New Linux-Based ATSC 3.0 STB At IBC2026

Share Copy link Facebook X Linkedin Bluesky Email...

11/09/2026

Jimmy Kimmel Shifts Political Interview to YouTube Over FCC Worries

Share Copy link Facebook X Linkedin Bluesky Email...

11/09/2026

Remembering 9/11: 25 Years of TV Tech Coverage

Share Copy link Facebook X Linkedin Bluesky Email...

11/09/2026

Tiger Group To Auction Equipment from a National Broadcasting Studio

Share Copy link Facebook X Linkedin Bluesky Email...

11/09/2026

Grass Valley Launches AVORA at IBC2026

Share Copy link Facebook X Linkedin Bluesky Email...

11/09/2026

Survey: Low Latency for Live Streaming Is Industrys Top Challenge

Share Copy link Facebook X Linkedin Bluesky Email...

11/09/2026

Atomos Debuts New HDR Monitors at 2026 IBC Show

Share Copy link Facebook X Linkedin Bluesky Email...

11/09/2026

Grass Valley Launches AVORA at IBC2026 Bringing All in On...

New standalone solution gives production teams everything they need to create, produce and deliver live content from one flexible system. Grass Valley today an...

11/09/2026

Wave Central a Domo Broadcast Company Named Recipient of...

Recognition honors the development of FPV drone camera systems for live sports broadcast coverage Wave Central, a Domo Broadcast Company that develops advanced...

11/09/2026

Teradek Launches Bolt 7 A Unified Wireless System for Zer...

Teradek, the industry leader in zero-delay wireless video solutions, announced the launch of Bolt 7, which now includes a unified wireless video and data system...

11/09/2026

ACT Pixel Academy Announces Autumn Courses

The ACT Entertainment tvONE and Green Hippo Pixel Academy has released its autumn course schedule, with hands-on training dates in September, October and Novemb...

11/09/2026

Scientists discover a new way that a disease-linked protein comes apart

LA JOLLA, CA-Transthyretin amyloid disease (ATTR) is a progressive, life-threatening condition caused when the protein transthyretin (TTR) breaks apart and aggr...