Translation. Region: Russian Federal
Source: Central Bank of Russia –
From June 9, 2025, the automatic conversion of depositary receipts into shares of Russian issuers whose programs were terminated in accordance withby law. Bank of Russia determined the order its implementation.
The conversion will only affect those investors whose securities are registered with Russian depositories at the time of the conversion. No later than June 17, 2025, issuers are required to send a notice of the launch of the procedure to the depository where the shares for which the depository receipts were issued are stored. All transactions with depository receipts are suspended until the conversion is completed.
Depositories will write off depository receipts from accounts and credit shares of Russian issuers instead. Investors, regardless of whether they are residents or non-residents, do not need to take any action. The entire process will take no more than one month.
Automatic conversion will also affect those depository receipts whose programs were extended in accordance with the procedure established by the Government. It will be carried out after the program ceases to be effective.
Preview photo: Muanpare Wanpen / Shutterstock / Fotodom
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect
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