As earlier reported at: https://corp.megafon.com/investors/news/capital_market_releases/20180716-0900.html, the delisting was approved by the Board of Directors at its meeting on July 15, 2018 after having determined that maintaining a listing of GDRs was no longer a strategic priority for the Company. It is expected that the delisting will become effective on October 5, 2018.
It is the Company’s intention to delist both Regulations S GDRs and Rule 144A GDRs. While the Regulation S and Rule 144A GDR programmes are expected to remain in place following the delisting of the GDRs, holders of Regulation S and Rule 144A GDRs will no longer be able to trade their GDRs on the LSE. However, holders of Regulation S and Rule 144A GDRs will continue to own their GDRs and will retain the rights attached to such GDRs, including the right to vote the underlying Shares in accordance with the terms and conditions of the Deposit Agreement. While it is possible that an over-the-counter market for the GDRs could develop following the delisting, no assurance can be given that it will. In accordance with the terms and conditions of the Deposit Agreement for the GDR programme, including the payment of withdrawal fees of $0.05 per GDR, holders of the Regulation S and Rule 144A GDRs may cancel their GDRs and receive underlying Shares which are listed on the Moscow Exchange. Holders desiring to do this should contact the brokers or other securities intermediaries through which they hold their GDRs.
For More Information:
|Investors: Dmitry Kononov
Director for Investor Relations and M&A
|Tel: +7 926 200 firstname.lastname@example.org|
|Media: Alexander Boreyko
Director for Public Relations
|Tel: +7 925 708 9816||a.boreyko@MegaFon.ru|
Notes to Editors
MegaFon PJSC is a pan-Russian operator of digital opportunities, operating in all segments of the telecommunications markets in Russia, and in the Republics of Abkhazia, South Ossetia and Tajikistan. MegaFon is a recognized market leader in the provision of mobile data services, was the first operator in Russia to launch commercial operation of a third generation (3G) network and was the first operator in the world to launch commercial operation of an LTE-Advanced (4G) data network. MegaFon is traded on the Moscow Exchange and the London Stock Exchange under the symbol MFON. Additional information about MegaFon and the products and services provided by MegaFon can be found at: http://www.megafon.ru.
Cautionary Statement Regarding Forward Looking Statements
Some of the information in this document 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” the negative of such terms or other similar expressions. The Company wishes to caution you that these statements are only 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 our control. We may not achieve or accomplish these plans or predictions. The Company does not necessarily intend to update these statements to reflect events and circumstances occurring after the date hereof 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.
Statement Regarding Inside Information
This announcement contains inside information. The subject matter, the identity of the issuer, the identity of the persons making the notification and their titles, and the date and time of the notification are all as set forth above.
The company increased its service revenue, OIBDA and net profit in spite of plummeting roaming and retail revenues.