PAO Severstal: Information regarding GDR program
The Law envisages the termination by all Russian issuers, including PAO Severstal, of their depositary receipt facilities.
- The Law envisages the termination by all Russian issuers, including PAO Severstal, of their depositary receipt facilities.
- N.A., as the Depositary for its GDR Programme, of its implications and asked the Depositary to consider the steps necessary to be taken in connection with the termination of the GDR Programme.
- As at the date of this communication, the Depositary has not provided any feedback to PAO Severstal.
- Therefore, PAO Severstal would also encourage GDR holders to liaise with the Depositary in accordance with the terms of the relevant Deposit Agreements and discuss options available to secure their rights, including in connection with the conversion of GDRs into PAO Severstal's ordinary shares.