VEON Ltd. ADS - VEON STOCK NEWS

VEON (NASDAQ: VEON, Euronext Amsterdam: VEON) has announced the vesting of a conditional incentive award to its Group CEO, Kaan Terzioglu, under the company's 2021 Long Term Incentive Plan (LTIP). The award, granted on January 10, 2024, comprised 3,201,250 common shares and was subject to performance targets, which have been successfully met. Due to VEON's current lack of available registered securities, the settlement terms have been amended to include both cash and equity components:

1. Cash Payment: A gross payment of USD 500,000 was made in August 2024.
2. Equity Payment: 2,729,000 common shares (109,160 ADSs) will be transferred by August 31, 2025.

Mr. Terzioglu is now the beneficial owner of these shares but will not hold them directly until the 2025 transfer to comply with selling restrictions.

VEON 's subsidiary Kyivstar has been recognized as the fifth largest private sector investor in Ukraine for 2022-2023 by New Voice of Ukraine. This follows a similar ranking by Forbes Ukraine, solidifying VEON's position as the top international investor in the country. Kyivstar's investments totaled UAH 13.4 billion (approximately USD 326 million), focusing on:

1. Expanding 4G coverage to 95.5% of Ukrainian-controlled territory
2. Building 5,600 new 4G base stations and upgrading 15,000 from 3G to 4G
3. Investing UAH 1.4 billion in network energy resilience
4. Acquiring a controlling stake in Helsi, Ukraine's leading digital healthcare platform
5. Donating UAH 1.8 billion to social causes since 2022

VEON has committed to a USD 1 billion investment in Ukraine's future, aiming to provide state-of-the-art connectivity and expand essential digital services.

VEON (Nasdaq: VEON, Euronext Amsterdam: VEON) announces that its digital operator Beeline Kazakhstan, through its Corporate Foundation Zhyly Zhurek, is supporting digital skills development in Kazakhstan. The foundation has inaugurated a newly-constructed secondary school in Shelek village, near Almaty, equipped with high-end technology facilities. The school will serve over 900 children and features a state-of-the-art computer lab, workshops, laboratories, and sports facilities.

Zhyly Zhurek, established in November 2023, allocates 1% of Beeline Kazakhstan's annual revenue to CSR programmes. The foundation's school development project was recognized as the "Best CSR Project" by the Eurasian Business Association of Kazakhstan. To date, the programme has invested in refitting eight rural schools, benefiting nearly 5,000 children across Kazakhstan.

VEON (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator providing converged connectivity and online services, has disclosed its unaudited interim condensed consolidated financial statements for the six-month period ended 30 June 2024. This disclosure follows the release of VEON's 2Q24 trading update on 8 August 2024. The company has also published its interim report for the same period, which includes updated risk factors disclosure. This update allows investors to better understand the current risks facing VEON and how the company manages them, as it has been over a year since the last risk factors disclosure in VEON's 2022 Annual Report. The financial statements and interim report are available on the VEON Group website.

VEON announces that Tamasha, Pakistan's largest home-grown streaming platform, has secured international streaming rights for Pakistan's cricket matches against Bangladesh and England. This marks Tamasha's entry into international streaming, expanding its reach to sub-Saharan Africa and India. Launched by Jazz in 2021, Tamasha boasts 18 million monthly active viewers and holds exclusive streaming rights for 2024-2025 ICC tournaments in Pakistan.

During the ICC Men's T20 Cricket World Cup 2024, Tamasha recorded 70% of all digital views, peaking at 9 million daily active users. The platform has attracted over 50 international and local advertisers, positioning it as a top choice for brand partnerships in Pakistan's digital space. VEON Group, through its digital operators, offers various digital products across entertainment, financial services, health, and education, serving 111 million total monthly active users across its digital services and platforms.

VEON's subsidiary Kyivstar has launched We Live Here 2.0, a fundraising campaign to support the demining of Ukrainian territory. The initiative, in partnership with the Come Back Alive Foundation and supported by Ukraine's Ministry of Economy, aims to raise UAH 100 million (approx. USD 2.4 million) for Ukrainian-made robotics, vehicles, and communications tools for minesweepers. Kyivstar will donate UAH 30 million to kickstart the campaign.

This second phase builds on the success of the initial We Live Here campaign, which collected over UAH 180 million (USD 4.8 million) between May 2023 and February 2024, supplying 146 engineering and minesweeping groups with equipment. The project aims to make liberated Ukrainian territories safe and accessible for civilians, while also facilitating the restoration of mobile communications in de-occupied areas.

VEON reports strong Q2 2024 results with double-digit growth in USD terms. Key highlights include:

- Q2 revenue of USD 1,026 million, up 12.1% YoY (15.1% in local currency)
- EBITDA of USD 459 million, up 10.6% YoY (13.9% in local currency)
- Direct digital revenue of USD 108 million, up 83.3% YoY
- Capex of USD 181 million, up 5.8% YoY
- Total cash and cash equivalents of USD 722 million

VEON maintains its FY 2024 guidance for revenue growth of 16-18% and EBITDA growth of 18-20% in local currency terms, with capex intensity of 18-19%. The company's growth is driven by increased 4G customers and digital service users across financial, entertainment, healthcare, education, and enterprise services.

VEON (NASDAQ, Euronext Amsterdam: VEON), a global digital operator, has announced its intention to voluntarily delist from Euronext Amsterdam in the fourth quarter of 2024. This move aims to simplify and streamline the company's reporting requirements, resulting in a sole listing on Nasdaq. Following the delisting, VEON plans to initiate a buyback program for up to USD 100 million of its American Depositary Shares (ADS).

The company believes that its ADSs are currently undervalued relative to its operations, presenting an opportunity for share repurchases. The timing and specifics of the ADS buybacks will be determined by VEON's management and Board of Directors, considering factors such as liquidity, market conditions, and legal requirements.

VEON (Nasdaq: VEON, Euronext Amsterdam: VEON) has published its 2023 Integrated Annual Report, highlighting the company's performance across financial, social, environmental, and governance metrics. Key achievements include:

- Expanded 4G coverage, with 60% of mobile customers on 4G by end of 2023
- Provided digital services in finance, entertainment, healthcare, and education
- Invested in employee training, averaging 40 hours per employee
- Increased share of senior female leaders
- Reduced Scope 1 and 2 CO2 emissions by 14% year-on-year
- Decreased total energy consumption by 0.4% despite 21% increase in data usage

VEON aims to continue driving sustainable growth through digitalization and AI-based solutions, focusing on financial inclusion and bridging the AI gap in its markets.