Russia: Depository Receipts update


Clearstream Banking1 informs customers that clarification from the competent authorities has been received with regard to depository receipt (DR) conversion.

Nevertheless, given the possibility to convert DR holdings into underlying Russian shares through the forced conversion procedure introduced by the Russian Federal Law No. 319-FZ and its implications on existing holdings, settlement at Clearstream Banking for Russian DRs with underlying Russian shares remains closed as detailed in Announcement D22052.

Clearstream Banking is analysing potential alternative options for customers to convert the actual holdings.

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.

1. Clearstream Banking refers to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.