Lenta IPJSC (LNTA;LENT)
Press Release | St. Petersburg | 18 August 2022
Lenta IPJSC Informs about Submission of a Notification for Automatic Conversion of GDRs
Saint-Petersburg, Russia, 18 August, 2022: Lenta IPJSC (LSE: LNTA, MOEX: LENT, the Company), one of leading Russian retailers, informs that, in accordance with Federal Law No. 114-FZ of April 16, 2022, it has submitted to AO Raiffeisenbank, in which a deposit account of depository programs has been opened under the Global Depositary Receipts Program for ordinary shares of Lenta IPJSC (ISIN US52634T2006, ISIN US52634T1016, hereinafter collectively referred to as the " the Company’s GDRs"), a notification of the action required for the holders of the Company’s GDRs, the rights to which are recorded in Russian depositories, to obtain the corresponding number of ordinary shares of Lenta IPJSC.
Based on the notification sent by the Company, AO Raiffeisenbank will automatically convert the Company’s GDRs, the rights to which are registered in depositories in the Russian Federation, into ordinary shares of Lenta IPJSC in accordance with the procedure and terms established by the decision of the Board of Directors of the Bank of Russia dated July 22, 2022.
For the Company’s GDRs, the rights to which are registered in foreign depositories, a forced conversion is possible upon application of their holders. The application should be sent to AO Raiffeisenbank by October 12, 2022. We recommend that holders of the Company’s GDRs who wish to exercise the right of forced conversion, contact AO Raiffeisenbank to clarify the procedure and details of such forced conversion.
For further information on procedure for automatic conversion and exercise of rights to forced conversion of the Company’s GDRs please contact AO Raiffeisenbank (firstname.lastname@example.org).
This statement does not constitute individual investment, financial or legal advice. This statement is for information purposes only and Lenta IPJSC shall not be liable if the interpretation of applicable laws and regulations by the relevant state authorities differs from the interpretation given in this statement. Holders of depositary receipts should make an independent decision on how to act in connection with the published statement and, if necessary, contact their investment, legal and other advisors.
For further information, please visit https://corp.lenta.com/ or contact:
Lenta IPJSC (LSE: LNTA, MOEX: LENT) is a leading Russian multi-format food and FMCG retailer. The Company operates hypermarkets, supermarkets, and recently launched a new proximity store format under the brand Mini Lenta. It also provides customers the option to shop online via its own Lenta Online services, Online Partners and the Utkonos platform. Lenta is Russia’s largest hypermarket operator and the fourth largest food retailer overall by Sales. The Company was founded in 1993 in St. Petersburg and as of June 30, 2022, operated 254 hypermarkets and 555 supermarkets and Lenta Mini stores in over 200 cities and towns across Russia, with almost 1.78 million square meters of Selling Space. The average Lenta hypermarket has approximately 5,500 square meters of Selling Space, the average Lenta supermarket has 800 square meters, and the Mini Lenta format is 500 meters on average. The Company operates 14 distribution centers to supply all its stores. 2021 Revenues were RUB 484 billion (approximately USD 6.5 billion).
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