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Mandatory Tender Offer

Mandatory Tender Offer for the purchase of ordinary shares of PJSC “MegaFon” made by LLC “MegaFon Finance”

On 27 December 2018, Public Joint Stock Company “MegaFon” (“PJSC “MegaFon” or the “Company”) received a mandatory tender offer to purchase securities of PJSC “MegaFon” (the “Mandatory Tender Offer”) made by Limited Liability Company “MegaFon Finance” (“LLC “MegaFon Finance”) in respect of 131 212 843 ordinary shares of PJSC “MegaFon” (the “Shares”).

As of the date the Mandatory Tender Offer was received by the Company, LLC “MegaFon Finance” together with its affiliate held 78.84% of the total outstanding Shares.

The proposed purchase price of the Shares is RUB 659.26 per one Share.

The period for acceptance of the Mandatory Tender Offer is 70 (seventy) days from the date the Mandatory Tender Offer was received by the Company (i.e. from 28 December 2018 until 7 March 2019, inclusive).

Mandatory Tender Offer, recommendations of the Board of Directors of PJSC “MegaFon” and additional information for the shareholders of PJSC “MegaFon”:

  1. Mandatory Tender Offer to purchase ordinary shares of PJSC “MegaFon” made by LLC “MegaFon Finance”.
  2. Recommendations of the Board of Directors of PJSC “MegaFon” in respect of the Mandatory Tender Offer to purchase ordinary shares of PJSC “MegaFon” made by LLC “MegaFon Finance”.
  3. Information Letter in relation to the Mandatory Tender Offer for the purchase of ordinary shares of PJSC “MegaFon” made by LLC “MegaFon Finance”.
  4. The recommended form of an application to sell ordinary shares of PJSC “MegaFon” pursuant to the Mandatory Tender Offer made by LLC “MegaFon Finance”.

Procedure for the acceptance of the Mandatory Tender Offer

Any shareholder to whom the Mandatory Tender Offer is addressed and who is registered in the shareholders’ register of PJSC “MegaFon” may accept the Mandatory Tender Offer by sending a written application to sell the securities (the Shares owned by such shareholder) to the registrar of PJSC “MegaFon” by post or delivering it personally at the below addresses:

  • prior to the date of entry of a record of cessation of the operations of JSC Independent Registrar Company in the Unified State Register of Legal Entities due to its reorganization in the form of merger into Joint Stock Company “Independent Registrar Company R.O.S.T.”:

    to the address of JSC Independent Registrar Company: 18 bldg. 5B, Stromynka Street, Moscow, 107076, Russian Federation, c/o JSC Independent Registrar Company; or

    to the address of any branch of JSC Independent Registrar Company (information on the branches of JSC Independent Registrar Company is available on its website at http://nrcreg.ru/contacts/branch/default.aspx).
  • from the date of entry of a record of cessation of the operations of JSC Independent Registrar Company in the Unified State Register of Legal Entities due to its reorganization in the form of merger into Joint Stock Company “Independent Registrar Company R.O.S.T.”:

    to the address of Joint Stock Company “Independent Registrar Company R.O.S.T.”: 18 bldg. 13, Stromynka Street, Moscow, 107996, Russian Federation, c/o Joint Stock Company “Independent Registrar Company R.O.S.T.”; or

    to the address of any branch of Joint Stock Company “Independent Registrar Company R.O.S.T.” (information on the branches of Joint Stock Company “Independent Registrar Company R.O.S.T.” is available on its website at http://www.rrost.ru/ru/filials/).

The recommended form of the application is available on this website page.

The application of the shareholder who is not registered in the shareholders’ register of PJSC “MegaFon” shall be submitted to the entity (nominee holder) through which such shareholder holds its Shares. Such applications shall be submitted pursuant to the procedure set forth in Article 76, para. 3.1 of Federal Law No. 208-FZ on Joint Stock Companies dated 26 December 1995 (as amended) (the “JSC Law”) for tendering shares for redemption by the company by way of sending a respective order (instruction) to the nominee holder in accordance with the Russian securities laws. Such order (instruction) must contain information on the number of Shares sold by the shareholder, the category (type) of the Shares, as well as other information required pursuant to the deposit agreement and necessary for the nominee holder to identify the shareholder, write off the Shares from the depo account and transfer the purchase price for the Shares purchased pursuant to the Mandatory Tender Offer.

All applications must be received by expiration of the term for acceptance of the Mandatory Tender Offer, i.e. by 7 March 2019 (inclusive).

More detailed description of the procedure for acceptance of the Mandatory Tender Offer is provided for in the Information Letter in relation to the Mandatory Tender Offer published on this website.

Any questions with respect to the procedure for the acceptance of the Mandatory Tender Offer can be addressed to the registrar of PJSC “MegaFon” by email to: MegafonTO@nrcreg.ru, or by telephone: 8-800-200-81-60.

In accordance with the provisions of the JSC Law the Mandatory Tender Offer is made to the shareholders — holders of the Shares. The holders of Global Depositary Receipts representing the Shares (“GDRs”) should be able to participate in the Mandatory Tender Offer following the cancellation of the GDRs held by them, receipt of the respective number of the underlying Shares, and submission of the application to sell the securities (the Shares) pursuant to the Mandatory Tender Offer, on the terms and conditions of the Mandatory Tender Offer and within the applicable deadlines.

Please note that pursuant to the JSC Law the shareholders have a right, but not an obligation, to accept the Mandatory Tender Offer. Shareholders should make their own decision as to whether to sell their Shares pursuant to the Mandatory Tender Offer and, if so, how many Shares to sell. Prior to making any decision to sell their Shares pursuant to the Mandatory Tender Offer, the shareholders of PJSC “MegaFon” should carefully read and consider the terms and conditions of the Mandatory Tender Offer and Articles 84.2 and 84.3 of the JSC Law, the Information Letter in Relation to the Mandatory Tender Offer and the recommended form of an application to sell the shares of PJSC “MegaFon” pursuant to the Mandatory Tender Offer. Shareholders are urged to consult with their financial and tax adviser, and legal counsel if they have any questions in relation to the Mandatory Tender Offer.

Cautionary Statement Regarding Forward Looking Statements

Some of the information on this website may contain or refer to projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward looking statements by terms such as “expect”, “believe”, “anticipate”, “estimate”, “forecast”, “intend”, “will”, “could”, “may”, or “might”, including the negative form of such verbs or other similar expressions. These statements are predictions, and are based upon various assumptions which are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond control of the Company. These plans or predictions may fail to be achieved or accomplished. The Company does not necessarily intend to update these statements to reflect events and circumstances occurring after the date of the respective documents or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Company, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries in which the Company operates, as well as many other risks specifically related to the Company and its business and operations.