PAO Severstal: Severstal announces the completion of automatic conversion of its GDRs
PAO Severstal (MOEX: CHMF) announces that according to the information published by the National Settlement Depositary on its official website ( https://www.nsd.ru/faq/auto_conv/ ), the automatic conversion of global depositary receipts representing ordinary shares of PAO Severstal (ISIN US8181503025, ISIN US8181501045, together GDRs) pursuant to the procedure contemplated by Federal Law No.114-FZ dated 16.04.2022 and related Russian regulations was completed on 26 August 2022.
- PAO Severstal (MOEX: CHMF) announces that according to the information published by the National Settlement Depositary on its official website ( https://www.nsd.ru/faq/auto_conv/ ), the automatic conversion of global depositary receipts representing ordinary shares of PAO Severstal (ISIN US8181503025, ISIN US8181501045, together GDRs) pursuant to the procedure contemplated by Federal Law No.114-FZ dated 16.04.2022 and related Russian regulations was completed on 26 August 2022.
- Automatic conversion was effected in respect of GDRs held with the Russian depositaries as of 22 August 2022.
- We also note that GDR holders holding their GDRs with foreign custodians are still entitled to apply for direct conversion of their GDRs.
- We also recommend that such GDR holders promptly contact the Depository of PJSC Sberbank to clarify the procedure and details of such conversion.