US Treasury expands general license to include both VEON Ltd. and VEON Holdings
Amsterdam, 18 January 2023: VEON Ltd. announced the U.S. Department of the Treasury has replaced General License 54 with General License 54A. This new license includes both VEON Ltd. and VEON Holdings B.V., allowing transactions related to the purchase of their debt or equity securities that were previously prohibited. The license applies to debt and equity securities issued before 6 June 2022 and covers all necessary facilitation activities. VEON Group CEO Kaan Terzioğlu expressed satisfaction over the confirmation, which alleviates market uncertainties regarding VEON Holdings' debt.
- General License 54A inclusion enhances market confidence for trading VEON Ltd. and VEON Holdings securities.
- License clarifies and expands the ability to trade previously restricted debt and equity securities.
- None.
Amsterdam, 18 January 2023: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, announced that the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC) has replaced the General License 54 originally issued on 18 November 2022 with General License 54A to now include both VEON Ltd. and VEON Holdings B.V. (VEON Holdings).
This general license authorizes all transactions ordinarily incident and necessary to the purchase and receipt of any debt or equity securities of VEON Ltd. or VEON Holdings that would otherwise be prohibited by section 1(a)(i) of Executive Order (E.O.) 14071. OFAC General License 54A applies to all debt and equity securities of VEON Ltd. or VEON Holdings that were issued before 6 June 2022, and confirms that the authorization applies not only to the purchase and receipt of debt and equity securities, but also to transactions ordinarily incident and necessary to facilitating, clearing, and settling of such transactions. This General License ensures that all market participants can trade the relevant securities with confidence that such trading is consistent with E.O. 14071, which targeted “new investment” in Russia.
Commenting on the issuance of General License 54A, VEON Group Chief Executive Officer Kaan Terzioğlu said: “We are very pleased that the Office of Foreign Assets Control has now confirmed that the license covers both VEON Ltd. and VEON Holdings’ debt and equity securities. This confirmation addresses some of the market uncertainty there was regarding the debt issued through VEON Holdings.”
Disclaimer
This release contains “forward-looking statements,” as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, expectations regarding management plans and the ability to successfully execute operating model, governance and development plans. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.
About VEON
VEON is a global digital operator that currently provides converged connectivity and online services to over 200 million customers in seven dynamic markets. We are transforming people’s lives, empowering individuals, creating opportunities for greater digital inclusion and driving economic growth across countries that are home to more than
For more information visit: https://www.veon.com.
Contact Information
VEON
Investor Relations
Nik Kershaw
ir@veon.com
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