PJSC LukOil Re Depositary Receipt Facilities of PJSC LUKOIL (4595K)
May 05 2022 - 4:39AM
UK Regulatory
TIDMLKOD
RNS Number : 4595K
PJSC LukOil
05 May 2022
PRESS RELEASE
May 05, 2022
ON DEPOSITARY RECEIPT FACILITIES OF PJSC LUKOIL
PJSC <<LUKOIL>> (hereinafter, the "Company")
announces that the recently enacted Russian Federation law (Federal
Law No. 114-FZ of April 16, 2022 (the "Law")), prohibits
circulation outside of Russia of depositary receipts representing
shares of Russian issuers, effective April 27, 2022. The Law
requires Russian issuers to initiate termination of their
depositary receipt facilities.
In accordance with the Law and the terms and conditions of the
Company's American Depositary Receipt (hereinafter, "ADR")
facilities, the Company advised Citibank N.A. of its intent to
terminate its Level 1 ADR facility and Rule 144A ADR facility,
effective December 30, 2022.
The Company also notified the FCA and the London Stock Exchange
of its intent to cancel the listing and admission to trading of the
ADRs (ISIN US69343P1057 and ISIN US69343P2048) and ordinary shares
of PJSC LUKOIL (ISIN RU0009024277), effective June 6, 2022.
Note
ADR holders may convert their ADRs into ordinary shares of PJSC
<<LUKOIL>> by December 30, 2022. Only persons who held
ADRs as of April 27, 2022, are eligible for conversion of their
ADRs into ordinary shares of PJSC <<LUKOIL>>.
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END
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