VEON Ltd. ADS - VEON STOCK NEWS

VEON Ltd. has appointed Jagan Mohan as the new Group Head of Internal Audit, effective 1st May 2023. Mohan, previously the Group Director of Internal Audit, brings 25 years of experience across various industries, including telecoms and FMCG. This appointment coincides with the transition of Joop Brakenhoff to the role of Group Chief Financial Officer, also effective on the same date. Mohan will report to Kaan Terzioglu, Group CEO, and Michiel Soeting, Chairman of the Audit and Risk Committee. The changes aim to enhance governance standards and improve operations through an effective internal audit function.

VEON Holdings B.V. announces the results of the 2023 Put Option for its USD 529.32 million 5.95% October 2023 Notes and USD 700 million 7.25% December 2023 Notes. The Put Option Period opened on April 5, 2023, and closed on April 19, 2023. Holders validly exercised a total of USD 165.38 million for the October Notes and USD 293.75 million for the December Notes. After the settlement on April 26, 2023, the outstanding principal amounts will be USD 363.94 million for the October Notes and USD 406.25 million for the December Notes. This action is part of VEON's strategy to manage its debt obligations.

VEON Ltd. (NASDAQ: VEON) announced on April 20, 2023, that its Kyrgyzstan subsidiary, Beeline Kyrgyzstan, has achieved ISO/IEC 27001:2013 certification from the British Standards Institute. This certification reflects a commitment to high standards in information security management systems, ensuring the protection of data assets for corporate, individual clients, and employees.

Kaan Terzioglu, CEO of VEON Group, emphasized the importance of cybersecurity in their operations, while Andrey Pyatakhin, CEO of Beeline Kyrgyzstan, highlighted the achievement as proof of the organization’s dedication to data security. The certification underscores VEON's ongoing efforts to enhance its security measures amid the increasing digitalization of its markets.

VEON Ltd. announced a significant increase in share ownership for its management following the completion of management share awards as part of its incentive programs initiated in February 2022. On April 14, 2023, the company disclosed that five members of its Group Executive Committee received a total of 154,876 shares under the Short-Term Incentive (STI) scheme and 643,286 shares through the Long-Term Incentive (LTI) plan. The LTI plan aligns executive remuneration with long-term value creation tied to performance metrics. The shares from the STI plan are deferred into shares for a two-year vesting period starting from March 15, 2023. The announcement underscores VEON's commitment to aligning management interests with those of its shareholders.

VEON Ltd. has appointed PricewaterhouseCoopers Accountants N.V. as auditors for the Group's consolidated financial statements for the year ended December 31, 2022. This follows an earlier announcement on January 11, 2023, regarding PwC's appointment as the Dutch statutory financial auditors. The audit will adhere to the standards set by the Public Company Accounting Oversight Board in the U.S.

VEON, headquartered in Amsterdam, serves over 200 million customers across seven markets, emphasizing digital inclusion and economic growth. The company is listed on Nasdaq and Euronext Amsterdam.

VEON Holdings B.V. has announced the commencement of the 2023 Put Option Period for its notes totaling USD 1.23 billion. This includes USD 529.32 million in 5.95% notes due October 2023 and USD 700 million in 7.25% notes due December 2023. The period starts on April 5, 2023, and ends on April 19, 2023, with the settlement date set for April 26, 2023. Holders can repurchase notes at 102% of their principal plus accrued interest. Participation must comply with applicable sanctions laws, and holders should submit their election notices timely through specified clearing systems.

VEON Ltd. announced the successful completion of amendments to its 2023 Notes, effective as of April 4, 2023. This follows the satisfaction of the Amendment Conditions previously communicated. Key dates include the issuance of the 2023 Put Option Event Notice on April 5, the commencement of the Put Option Period also on April 5, and the expiry of this period on April 19, 2023, at 5:00 p.m. New York time. The Settlement Date for the 2023 Put Option is set for April 26, 2023. VEON serves over 200 million customers across seven markets, focusing on digital connectivity and inclusion.

VEON Ltd. confirms the satisfaction of all Scheme Amendment Conditions as of April 3, 2023. This follows a previous announcement on January 31, 2023, regarding the Scheme's effectiveness. The company has obtained all necessary authorizations to implement amendments to the 2023 Notes. The amendments are set to take effect on April 4, 2023, with further steps detailed in a timeline. Key dates include the issuance of the 2023 Put Option Event Notice on April 5, and the expiry of the 2023 Put Option Period on April 19, 2023.

VEON provides digital services to over 200 million customers across seven markets.

VEON Ltd. has successfully obtained all remaining licenses needed to amend its 2023 Notes and extend their maturities. This includes licenses from UK, Dutch, and Bermuda authorities. With these approvals, the company can implement the amendments as outlined in the Scheme. Group CEO Kaan Terzioglu expressed optimism about the extensions, stating they allow for additional time to finalize the sale of the Russian business and reduce the risk of double principal payments. The company will release details on the process and timeline for implementing the amendments shortly.