REG - PJSC Tatneft - Notice to ADR Holders

Tatneft' Imeni V.D. Shashina PAOAnnouncement

27/04/2022 12:30

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RNS Number : 5622J  PJSC Tatneft  27 April 2022

27 April 2022

 

Notice to the holders of ADRs

 

PJSC Tatneft (the "Company") notifies that today, 27 April 2022, Article 6 of
the Federal Law No. 114-FZ "On amendments to the Federal Law "On Joint Stock
Companies" and Article 5 of the Federal Law "On auditing activities" ("Article
6 of the Law 114-FZ"), which prohibits placement or (and) circulation outside
of the Russian Federation of Russian issuers' shares by way of placement
pursuant to foreign law of securities of foreign issuers representing the
rights with respect to such Russian issuers' shares (i.e. depositary
receipts), came into effect.

 

As of effective day of Article 6 of the Law 114-FZ, unless the Company obtains
a permission pursuant to a special procedure established by the Russian
Government Resolution No. 672 dated 16 April 2022, any circulation of the
Company's American Depositary Receipts, each representing 6 ordinary shares of
the Company, ISIN US876629205 (the "ADRs"), shall stop, no ordinary shares of
the Company shall be permitted to be deposited for the issuance of respective
ADRs, and the ordinary shares already deposited with respect to outstanding
ADRs shall no longer carry voting rights, shall not be counted towards any
voting at the Company's shareholders' meetings, and no dividends shall be paid
on such ordinary shares (but accrued and, subject to any other limitations in
effect, shall be paid following the cancellation of respective ADRs and their
conversion into the ordinary shares). Cancellation of the ADRs is permitted,
but the rights of ADR holders to receive respective ordinary shares is
determined as of effective day of Article 6 of the Law 114-FZ, i.e. 27 April
2022.

 

Pursuant to Article 6 of the Law 114-FZ by 5 May 2022 the Company has to
either submit to Citibank, N.A. as the depositary (the "Depositary") a notice
of cancellation of the deposit agreement relating to the ADRs (the
"Cancellation Notice") or to apply to for a permission to continue the
circulation of the ADRs outside of Russia. If the Company's application is
denied, it will have 5 working days to submit the Cancellation Notice to the
Depositary.

 

Until and unless the Company receives a permission to continue the circulation
of the ADRs outside of Russia, and subject to any conditions which might be
set out therein, the prohibitions and limitations set out in Article 6 of the
Law 114-FZ apply.

 

            This notice is not a legal advice and shall not be
construed as one.

 

This notice contains inside information.

 

Forward-looking statements and disclaimers: This press release contains
certain statements regarding future events and expectations, which are
forward-looking statements in nature. Any statement in this press release that
is not a historical fact is a forward-looking statement that involves known
and unknown risks, uncertainties and other factors that could cause actual
results, performance or achievements expressed or implied by such
forward-looking statements to differ materially. PJSC TATNEFT shall assume no
obligation to update such forecasts to reflect actual results, changes in
assumptions or changes in factors affecting these statements.

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