RusHydro announced delisting

AK&M 04 July 2022 19:15

RusHydro has sent applications to the London Stock Exchange and the Financial Conduct Authority to cancel the listing and admission to trading of global depositary receipts, as well as American depositary receipts, each of which certifies the rights to 100 ordinary shares. The basic ordinary shares will continue to be traded on the Moscow Stock Exchange in accordance with the procedure prescribed by the regulators of the Russian Federation. This is stated in the company's message.

On July 1, 2022, the Company received notifications from the GDR and ADR depository bank - The Bank of New York Mellon - on the termination of the depository agreement concluded on April 14, 2008 and the depository agreement concluded by RusHydro, The Bank of New York Mellon and the owners and owners of American depositary shares on June 30, 2009.

RusHydro's appeal was preceded by a notification from the GDR and ADR depository bank on March 29, 2022 of the resignation of its powers, RusHydro's measures to replace the depository bank on depositary receipts and the refusal of potential successors to act as a new depository bank.

In addition, on April 27, 2022, a ban on the placement and (or) organization of circulation of shares of Russian issuers outside the Russian Federation through the placement of foreign depositary receipts entered into force in the Russian Federation, introduced by the law "On Amendments to the Law "On Joint Stock Companies" and Certain Legislative Acts of the Russian Federation". In the absence of a candidate for the successor of the depository bank, RusHydro was unable to apply to the Government of the Russian Federation for permission to extend the GDR and ADR programs for the company's shares.

RusHydro expects that the cancellation will take effect on the 21st business day from the date of publication of this message.

PJSC "Federal Hydrogenerating Company - RusHydro" (TIN 2460066195) - unites 90 renewable energy facilities in Russia and abroad, thermal power plants and electric grid assets in the Far East, as well as energy marketing companies and research and design institutes. The amount of the authorized capital of the company is 426.289 billion rubles.

The net profit of PJSC RusHydro under RAS for the first quarter of 2022 increased by 27% to RUB 17.2 billion, EBITDA increased by 16% to RUB 27.4 billion.