VEON on Track to Consolidate Trading on Nasdaq in New York, Last Day on Euronext Amsterdam is Tomorrow
VEON (Nasdaq: VEON) announces the final steps of consolidating its trading exclusively on Nasdaq. The company's shares will cease trading on Euronext Amsterdam at the close of trading on November 22, 2024, with the delisting effective from November 25, 2024. VEON has extended the offer to pay ADS issuance fees until December 6, 2024, for shareholders converting their Common Shares to ADSs. Shareholders must hold Common Shares in multiples of 25 for ADS conversion. Current ADS holders not holding Common Shares on Euronext Amsterdam need not take any action.
VEON (Nasdaq: VEON) annuncia i passi finali per consolidare il proprio trading esclusivamente su Nasdaq. Le azioni della società smetteranno di essere negoziate su Euronext Amsterdam alla chiusura delle contrattazioni il 22 novembre 2024, con il delisting che entrerà in vigore dal 25 novembre 2024. VEON ha prorogato l'offerta per pagare le spese di emissione degli ADS fino al 6 dicembre 2024, per gli azionisti che convertono le loro Azioni Ordinarie in ADS. Gli azionisti devono detenere Azioni Ordinarie in multipli di 25 per la conversione in ADS. Gli attuali detentori di ADS che non possiedono Azioni Ordinarie su Euronext Amsterdam non devono intraprendere alcuna azione.
VEON (Nasdaq: VEON) anuncia los pasos finales para consolidar su comercio exclusivamente en Nasdaq. Las acciones de la compañía dejarán de cotizar en Euronext Ámsterdam al cierre de operaciones el 22 de noviembre de 2024, con la deslistación efectiva desde el 25 de noviembre de 2024. VEON ha ampliado la oferta para pagar las tarifas de emisión de ADS hasta el 6 de diciembre de 2024, para los accionistas que convierten sus Acciones Comunes en ADS. Los accionistas deben tener Acciones Comunes en múltiplos de 25 para la conversión a ADS. Los actuales tenedores de ADS que no posean Acciones Comunes en Euronext Ámsterdam no necesitan tomar ninguna acción.
VEON (Nasdaq: VEON)는 거래를 Nasdaq에서만 진행하기 위한 마지막 단계를 발표합니다. 회사의 주식은 2024년 11월 22일 거래 종료 시 Euronext 암스테르담에서 거래를 중단하며, 2024년 11월 25일부터 상장 폐지가 시행됩니다. VEON은 주주가 보통 주식을 ADS로 전환하는 경우 2024년 12월 6일까지 ADS 발행 수수료를 지불하는 제안을 연장했습니다. 주주는 ADS 전환을 위해 반드시 25의 배수로 보통 주식을 보유해야 합니다. 현재 Euronext 암스테르담에서 보통 주식을 보유하지 않은 ADS 보유자는 아무런 조치를 취할 필요가 없습니다.
VEON (Nasdaq: VEON) annonce les dernières étapes pour consolider son trading exclusivement sur Nasdaq. Les actions de la société cesseront d'être négociées sur Euronext Amsterdam à la fermeture des marchés le 22 novembre 2024, le retrait de la cote entrant en vigueur le 25 novembre 2024. VEON a prolongé l'offre de paiement des frais d'émission d'ADS jusqu'au 6 décembre 2024, pour les actionnaires qui convertissent leurs actions ordinaires en ADS. Les actionnaires doivent détenir des actions ordinaires par multiples de 25 pour la conversion en ADS. Les détenteurs d'ADS actuels ne détenant pas d'actions ordinaires sur Euronext Amsterdam n'ont besoin d'entreprendre aucune action.
VEON (Nasdaq: VEON) kündigt die letzten Schritte zur Konsolidierung des Handels ausschließlich an der Nasdaq an. Die Aktien des Unternehmens werden am 22. November 2024 zum Handelsende an Euronext Amsterdam nicht mehr gehandelt, wobei das Delisting ab dem 25. November 2024 wirksam wird. VEON hat das Angebot zur Zahlung der ADS-Ausgabegebühren bis zum 6. Dezember 2024 verlängert, für Aktionäre, die ihre Stammaktien in ADS umwandeln. Aktionäre müssen Stammaktien in Vielfachen von 25 halten, um eine ADS-Umwandlung vorzunehmen. Aktuelle ADS-Inhaber, die keine Stammaktien an Euronext Amsterdam halten, müssen keine Maßnahmen ergreifen.
- Consolidation of trading on Nasdaq streamlines trading venue and potentially reduces administrative costs
- Company covering ADS issuance fees for shareholders converting shares, facilitating the transition
- Delisting from Euronext Amsterdam may reduce trading liquidity and accessibility for European investors
Insights
The consolidation of VEON's trading to Nasdaq represents a significant strategic shift in the company's market presence. This move streamlines trading operations and could potentially enhance liquidity by concentrating all trading activity on a single exchange. The company's proactive approach in covering ADS issuance fees until December 6th demonstrates strong shareholder consideration and should facilitate a smoother transition for European investors.
The 25:1 share-to-ADS conversion ratio requires careful attention from investors holding odd lots. The timing of this announcement gives shareholders one final trading day to adjust their positions to match the required multiple of 25 shares. This consolidation could lead to improved trading efficiency and potentially reduce administrative costs for VEON in the long term.
Amsterdam and Dubai, 21 November 2024: VEON Ltd. (Nasdaq: VEON; Euronext Amsterdam: VEON), a global digital operator (“VEON” or the “Company”), today confirms that, as previously announced, its shares will cease trading on the Euronext Amsterdam at the close of trading tomorrow, 22 November 2024 (the “Last Trading Date”), and that the delisting of its common shares from trading on Euronext Amsterdam (the “Euronext Amsterdam Delisting”) will be effective from Monday, 25 November 2024.
As it moves to consolidate the trading of its shares on the Nasdaq Capital Market (“Nasdaq”), VEON has also extended by two weeks, until 6 December 2024, its offer to pay ADS issuance fees for shareholders who deposit their Common Shares with the Company’s depositary, The Bank of New York Mellon, in exchange for delivery of ADSs. This extension of fees will have no impact on the Last Trading Date, but will be available for shareholders that continue to hold common shares after the Euronext Amsterdam Delisting and wish to convert such shares to ADSs.
“Our strategic transition to Nasdaq as our exclusive listing venue is right on track and tomorrow marks the final day of trading for VEON shares on Euronext Amsterdam,” said Kaan Terzioglu, VEON Group CEO. “We are thrilled to welcome our shareholders who have already converted their shares to ADSs and eagerly anticipate all VEON trading being consolidated on Nasdaq starting Monday, November 25th.”
On or before the Last Trading Date, shareholders that do not hold a number of Common Shares corresponding to a multiple of 25 can sell or purchase Common Shares so that they hold a number of Common Shares that is a precise multiple of 25, allowing for the issue of the corresponding number of ADSs.
Existing holders of ADSs not also holding Common Shares on Euronext Amsterdam do not need to take any action in relation to the Euronext Amsterdam Delisting.
VEON investors can access further information on the delisting process on VEON’s website: www.veon.com/investors.
About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than
Disclaimer
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy the Common Shares or ADSs, nor shall there be any sale of the Common Shares or ADSs in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities described in this announcement have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements.
This announcement does not form part of an offer of transferable securities to the public in the Netherlands and no prospectus has been, or is required to be, submitted to the AFM for approval.
Forward-looking statements
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, the Company’s Euronext Amsterdam Delisting timetable. 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, including the important factors discussed under the caption Risk Factors in VEON’s annual report on Form 20-F for the year ended 31 December 2023, which is on file with the U.S. Securities and Exchange Commission (SEC) and is available on the SEC website at www.sec.gov. 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 dates or to reflect the occurrence of unanticipated events. There can be no assurance that the initiatives referred to above will be successful.
Contact Information:
Hande Asik
Group Director of Strategy and Communication
pr@veon.com
Faisal Ghori
Group Director of Investor Relations
ir@veon.com
FAQ
When will VEON (VEON) delist from Euronext Amsterdam?
What is the conversion ratio for VEON common shares to ADSs?
Until when will VEON cover ADS issuance fees for share conversion?
