Lenta IPJSC (LNTA;LENT) Lenta IPJSC: Information for Holders of
Global Depositary Receipts of IPJSC Lenta 05-Aug-2022 / 16:00
CET/CEST Dissemination of a Regulatory Announcement, transmitted by
EQS Group. The issuer is solely responsible for the content of this
announcement.
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Press Release | St. Petersburg | 5 August 2022
Information for Holders of Global Depositary Receipts of IPJSC
Lenta
Saint-Petersburg, Russia, 5 August , 2022: Lenta IPJSC (LSE:
LNTA, MOEX: LENT, the Company), one of leading Russian retailers,
informs on amendments of the laws of the Russian Federation related
to the procedure for conversion (cancellation) of the Global
Depositary Receipts representing the Company's ordinary shares (the
Company's GDRs).
On July 14, 2022 Federal law No 319-FZ "On Amendment of Certain
Legislative Acts of the Russian Federation" ("Law No 319-FZ") came
into force, which provides, among other things, amendments of
procedure for obtaining of shares of Russian issuers by holders of
depositary receipts representing such shares ("Shares"), including
in case of termination of depositary receipts programs, in
particular:
-- the procedure for obtaining the corresponding number of
Shares by holders of depositary receipts,which are accounted for in
Russian depositaries ("Automatic Conversion"):
within five business days following 15 August 2022 Russian
issuers of Shares shall notify the Russian custodians, where DR
program depo accounts for recording Shares of the corresponding
Russian issuers have been opened (the "Custodian"), that actions
need to be taken to ensure Automatic Conversion.
The Central Depositary, the Custodian and Russian depositaries,
where the DR rights are recorded at, shall carry out operations for
the purposes of Automatic Conversion in accordance with the
procedure and within the time limits determined by the Bank of
Russia.
-- the procedure for forced conversion of depositary
receipts:
Holders of depositary receipts, which are accounted for by
foreign depositaries, who are unable to get Shares, including due
to sanctions, are entitled to apply to the Custodian with a request
for forced conversion of depositary receipts.
Such application accompanied by relevant documents shall be made
within 90 days from the effective date of the Law No 319-FZ that is
July 14, 2022.
The Custodian shall, within 10 business days following the above
period, open a depo account in the name of the holder, debit the
corresponding number of Shares from the DR depo account and credit
them to the holder's depo account opened in the name of the
applicant.
The Custodian may refuse to do the above actions if it has
reasonable doubts with respect to the accuracy and (or)
completeness or lack of information provided in the application for
forced conversion and documents thereto.
In addition, the Law No 319-FZ stipulates that operations under
forced conversion shall not be carried out if the total number of
Shares referenced by applications for forced conversion will exceed
the number of Shares accounted for on DR depo account.
Full text of the Law No 319-FZ is available at
http://publication.pravo.gov.ru/Document/View/0001202207140088 (in
Russian).
The Company plans to notify AO Raiffeisenbank (The Custodian of
the Company) that actions need to be taken to ensure the Automatic
Conversion of the Company's GDRs within five business days
following 15 August 2022.
For further information on procedure for Automatic Conversion
and exercise of rights to forced conversion of the Company's GDRs
please contact AO Raiffeisenbank
(adr.settlement@raiffeisen.ru).
This statement does not constitute individual investment,
financial or legal advice. This statement is for information
purposes only and IPJSC Lenta shall not be liable if the
interpretation of applicable laws and regulations by the relevant
state authorities differs from the interpretation given in this
statement. Holders of depositary receipts should make an
independent decision on how to act in connection with the published
statement and, if necessary, contact their investment, legal and
other advisors.
For further information, please visit https://corp.lenta.com/ or
contact:
Lenta Lenta
Mariya Filippova
Tatyana Vlasova Head of Public Relations and Government Affairs
Head of Investor Relations maria.filippova@lenta.com
tatyana.vlasova@lenta.com
About Lenta
Lenta IPJSC (LSE: LNTA, MOEX: LENT) is a leading Russian
multi-format food and FMCG retailer. The company operates
hypermarkets, supermarkets, and recently launched a new proximity
store format under the brand Mini Lenta. It also provides customers
the option to shop online via its own Lenta Online services, Online
Partners and the Utkonos platform. Lenta is Russia's largest
hypermarket operator and the fourth largest food retailer overall
by Sales. The company was founded in 1993 in St. Petersburg and as
of June 30, 2022, operated 254 hypermarkets and 555 supermarkets
and Lenta Mini stores in over 200 cities and towns across Russia,
with almost 1.78 million square meters of Selling Space. The
average Lenta hypermarket has approximately 5,500 square meters of
Selling Space, the average Lenta supermarket has 800 square meters,
and the Mini Lenta format is 500 meters on average. The company
operates 14 distribution centers to supply all its stores. 2021
Revenues were RUB 484 billion (approximately USD 6.5 billion).
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ISIN: US52634T2006, US52634T1016
Category Code: MSCH
TIDM: LNTA;LENT
LEI Code: 213800OMCE8QATH73N15
Sequence No.: 179553
EQS News ID: 1414267
End of Announcement EQS News Service
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