VTB announces termination of Depositary Receipts Program

 

 

Given the sanctions imposed on VTB Bank PJSC by the USA and other countries as well as provisions of Russian Federal Law #114-FZ of 16 April 2022 further maintenance of Depositary Receipts Program is no longer possible.

In accordance with the Deposit Agreement between VTB and The Bank of New York Mellon the program shall be terminated after 90 days from the date of the Termination Letter which was submitted on 2 June 2022. Subsequently VTB Depositary Receipts Program will be terminated on 1 September 2022.

Conversion of Depositary Receipts into ordinary shares and all other issued related to the termination of the Depositary Receipts Program shall be coordinated between the holders of depositary receipts and the issuer of depositary receipts, The Bank of New York Mellon.

Following termination of the Depositary Receipts Program VTB’s listing at the London Stock Exchange (LSE) will be also terminated.