Ozon Holdings PLC - OZON STOCK NEWS

Ozon Holdings PLC (NASDAQ: OZON) announced updates regarding its $750 million 1.875% senior unsecured convertible bonds due 2026. A standstill agreement was reached on June 1, 2022, with bondholders representing 35.9% of the outstanding bonds, allowing a temporary halt on enforcement actions related to defaults. The agreements aim to facilitate a consensual restructuring of the bonds, expiring on August 30, 2022, with options for early termination or extensions. Ozon encourages non-sanctioned bondholders to join the agreements for mutual benefit.

Ozon Holdings PLC (NASDAQ: OZON) reported a strong Q1 2022, with a 173% year-on-year growth in orders, totaling 93 million. Gross Merchandise Value (GMV) reached RUB 177.5 billion, up 139%. Active buyers increased by 79% to 28.7 million. Total revenue grew 90% to RUB 63.6 billion, driven by a 61% rise in goods sales and a 169% increase in service revenue. However, it reported a loss of RUB 19.1 billion and negative Adjusted EBITDA of RUB 8.9 billion. Concerns linger over sanctions impacting operations and liquidity amid ongoing geopolitical tensions.

Ozon Holdings PLC (NASDAQ: OZON) has announced the resignation of CEO Alexander Shulgin, effective April 11, 2022, due to sanctions from the European Union and Australia. Igor Gerasimov, the CFO, will assume his role on the Board of Directors. The company will operate under a Management Board, emphasizing collaborative leadership. Ozon continues to be unaffected by sanctions and has recently been removed from the U.S. Treasury's blocked persons list. Over the past four years, Ozon has grown significantly, transforming into a leading e-commerce platform in Russia.

Ozon Holdings PLC (OZON) reported its preliminary unaudited financial results for Q4 and the full year 2021, showcasing substantial growth in key metrics. Q4 GMV including services surged to RUB 176.8 billion, a 133% year-on-year increase, with active buyers growing by 86% to 25.6 million. Total revenue rose 76% to RUB 66.3 billion. However, adjusted EBITDA was negative RUB 15.9 billion. For FY 2021, GMV reached RUB 448.3 billion (up 127%), while the company recorded a loss of RUB 56.8 billion. Capital expenditures increased significantly, impacting cash flow negatively.

Ozon Holdings PLC, a major Russian e-commerce platform, announced that its banking subsidiary, Ozon Bank, has been removed from the Specially Designated Nationals and Blocked Persons List (SDN List) by the Office of Foreign Assets Control (OFAC). Previously added to the list on February 24, 2022, due to its links with Sovcombank, Ozon Bank is now free from any U.S. sanctions. This change allows U.S. persons to trade Ozon's securities without restrictions, enhancing the company's market position and operational capabilities.

Ozon Holdings PLC (NASDAQ: OZON) is actively addressing a Delisting Event related to its $750 million convertible bonds due 2026. An Ad Hoc Committee of Bondholders has been formed, engaging Houlihan Lokey for financial advice and legal support from Akin Gump Strauss Hauer & Feld LLP. Ozon is preparing a proposal to bondholders and has enlisted Alvarez & Marsal and Cleary Gottlieb Steen & Hamilton LLP for further assistance. The company aims for a sustainable solution amidst ongoing uncertainties in the Russian market.

Ozon Holdings PLC, a leading Russian e-commerce platform, reported trading of its American Depositary Shares (ADSs) has been suspended on NASDAQ since February 28, 2022. This suspension resulted in a 'Delisting Event' affecting the company’s $750 million convertible bonds due 2026. Despite this, Ozon maintains liquidity of approximately RUB 113 billion to support operations. The company is developing a proposal for bondholders to address the Delisting Event, with legal and financial advisors being retained to assist.

Ozon Holdings PLC, a leading Russian e-commerce platform, has announced the suspension of its American Depositary Shares (ADSs) trading on NASDAQ since February 28, 2022. This suspension could lead to a 'Delisting Event' affecting its $750 million senior unsecured convertible bonds due 2026. If trading does not resume by March 8, 2022, bondholders may redeem their bonds at principal value, impacting the company’s liquidity. As of February 28, 2022, Ozon reported approximately RUB 113 billion in cash and equivalents, predominantly in foreign currency.

Ozon Holdings PLC confirms that it is currently not subject to any sanctions, allowing for uninterrupted operations within its e-commerce platform. The company reports that over 90% of its transactions occur in Russia, where both buyers and sellers can continue business as usual. Key IT systems and logistics remain fully operational, and a strong liquidity position is noted with RUB 126 billion in cash and deposits. However, Ozon acknowledges potential indirect impacts from ongoing sanctions affecting the Russian economy, which could hinder future capital raising efforts.