Ozon Informs about Receipt of Delisting Notice from Nasdaq
March 16 2023 - 8:22AM
Business Wire
Ozon Holdings PLC (NASDAQ and MOEX: “OZON”, hereafter referred
to as “we”, “us”, “our”, “Ozon” or the “Company”), an operator of
the leading Russian e-commerce platform, announces that on March
15, 2023, it received a notice (the “Notice”) from The Nasdaq Stock
Market LLC (the “Exchange”) that the Listing Qualifications Staff
has determined to delist the Company’s American Depositary Shares,
each representing one ordinary share of the Company (“ADSs”), from
the Exchange.
We believe that we have been and remain in full compliance with
all applicable reporting obligations and qualitative and
quantitative listing criteria of the Exchange and met all
additional requests for disclosure by the Exchange since the
suspension of trading on February 28, 2022.
According to the Notice, the Staff Delisting Determination has
been issued in reliance on Nasdaq’s discretionary authority under
Rule 5100 in light of the geopolitical circumstances affecting
Russia and their potential impact on the Company.
Under the Exchange’s rules, the Company may appeal the
Exchange’s determination to a Hearings Panel, pursuant to the
procedures set forth in the Exchange’s Listing Rule 5800 Series, by
requesting a hearing within seven calendar days of the date of the
Notice. The Company is considering an appeal, which stays the
delisting action pending the issuance of a written decision of the
Hearings Panel. Under the Exchange’s rules, the hearing is
required, to the extent practicable, to be held within 45 days of
the request for a hearing.
As previously disclosed in the Company’s press release dated
March 4, 2022, trading of Ozon’s ADSs on the Exchange was suspended
by the Exchange on February 28, 2022, and remains suspended. The
trading suspension is not affected by the receipt of the Notice or
the appeal to the Hearing Panel.
The notice of delisting does not impact our business operations.
We continue to actively grow and develop our core and adjacent
verticals as well as new products, and to serve our sellers, buyers
and various partners on our platform. We also note that Ozon is not
subject to any sanctions imposed by U.S. or EU authorities.
*Source: AETOSWire
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version on businesswire.com: https://www.businesswire.com/news/home/20230316005478/en/
Maryia Berasneva Investor Relations ir@ozon.ru
Maria Zaikina Press Office pr@ozon.ru
Ozon (NASDAQ:OZON)
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