MMC NORILSK NICKEL (FRA:NNIA) MMC Norilsk Nickel: UPDATE FOR HOLDERS OF AMERICAN DEPOSITARY RECEIPTS
Transparency directive : regulatory news
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MMC Norilsk Nickel (MNOD)
PRESS RELEASE Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL» (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company") UPDATE FOR HOLDERS OF AMERICAN DEPOSITARY RECEIPTS Moscow, April 21, 2022 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, notifies its American depositary receipt ("ADR") holders that on April 16, 2022, Federal Law No. 114-FZ "On Amendments to the Federal Law on Joint-Stock Companies and Certain Legislative Acts of the Russian Federation" (the "Law") was officially published. The Law requires Russian issuers to terminate their depositary receipts programs. The relevant provisions of the Law will enter into force on April 27, 2022. From April 27, 2022, Nornickel's shares underlying ADRs will become non-voting, and dividends will not be paid on shares underlying ADRs. Following the withdrawal of underlying shares, ADR holders who hold ADRs as of April 27, 2022 may be able to claim unpaid dividends under the procedure set forth in the Russian Federal Law on Joint-Stock Companies for unclaimed dividends. The record date for the surrender of depositary receipts is April 27, 2022. ADR holders should not enter into any transactions involving, or otherwise transfer, their ADRs on or after April 27, 2022 as the purchasers or transferees of such ADRs will not be able to receive any entitlement to the underlying shares. The Law provides that Russian issuers must initiate the termination of their deposit agreements not later than five business days from April 27, 2022 unless they apply for a permission to retain their depositary receipts programs. Nornickel is evaluating its options with respect to its ADR program. There is no assurance that if Nornickel applies for the permission, such application, if made, will be successful.
ABOUT THE COMPANY MMC Norilsk Nickel is a diversified mining and metallurgical company, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products. The production units of Norilsk Nickel Group are located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as well as in Finland. MMC Norilsk Nickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges. Media Relations: Investor Relations: Phone: +7 (495) 785 58 00 Phone: +7 (495) 786 83 20 Email: pr@nornik.ru Email: ir@nornik.ru
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| ISIN: | US55315J1025 |
| Category Code: | MSCH |
| TIDM: | MNOD |
| LEI Code: | 253400JPTEEW143W3E47 |
| Sequence No.: | 156837 |
| EQS News ID: | 1332447 |
| End of Announcement | EQS News Service |
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