VEON confirms unhindered trading of its shares, offers support to its investors
06 September 2023 - 3:23PM
VEON confirms unhindered trading of its shares, offers support to
its investors
Amsterdam, 6 September 2023 – VEON Ltd. (NASDAQ:
VEON, Euronext Amsterdam: VEON), a global digital operator that
provides converged connectivity and online services (“the
Company”), announces that it has issued a CEO Letter to current and
potential investors, confirming the unhindered trading of its
shares and offering the Company’s support to investors if they
experience arbitrary obstacles to trading.
In the letter, shared with the investor community on 5 September
2023, VEON Group CEO noted the following:
“Dear Valued Investors,
I am writing this letter to you to address some stock market
observations that have recently come to our attention. We have
noted that the trading volumes of our shares are unusually low, and
have received reports suggesting that certain brokers are
arbitrarily declining orders to purchase VEON shares.
Allow me to reiterate once more that VEON is a global company,
headquartered in Amsterdam, and listed on NASDAQ and Euronext
Amsterdam stock exchanges. We have no majority or ultimate
controlling shareholder, and, as a publicly traded company, we have
a diverse investor base including US, EU and UK investors.
Independent directors make up the majority of VEON’s Board of
Directors and we have a multinational management team. We operate
in 6 emerging markets including Ukraine and continue to deliver
accelerating growth with our digital operators that serve nearly
160 million customers with connectivity and digital services. We
are also in the final stages of our exit from Russia, originally
announced on November 24th, 2022, and continue to engage
proactively with our counterparts to close this sale process. Let
me also clarify once again that VEON Group has not been targeted by
US, EU, or UK sanctions at any point since the onset of the
conflict in February 2022. Over the course of the past 18 months,
we have communicated that we have received various regulatory
approvals and licenses from US, UK and EU authorities, adding
further clarity and transparency to the trading status of our
shares, and enabling the completion of several key liquidity
projects, including our Scheme of Arrangement in 2023, extending
the maturities of our 2023 bonds. Among these regulatory
authorizations, the two licenses issued by the US Treasury
Department’s Office of Foreign Assets Control (OFAC) - General
License 54 issued on on November 18th, 2022, and General License
54A issued on January 17th, 2023 - are also publicly available
documents.
Finally, let me underscore that the recent changes in the US, EU
and UK sanctions designations have no impact on VEON’s status as a
non-sanctioned entity. We are actively addressing the reports we
have received regarding the arbitrary treatment and are in
discussions to ensure that all counterparts have clarity about our
standing, enabling the trading of our shares in line with orders
received from our current and potential investors. In the interim,
if you, or any other investors you might know, experience any
issues while trying to purchase our shares, please reach out to our
Investor Relations team immediately at ir@veon.com.
We value the trust you have placed in us and are committed to
assisting you in any communications you might need to have with
your brokers regarding this matter.
Thank you for your continued support and belief in our
company.”
The letter is available on the Company’s website
www.veon.com.
About VEON
VEON is a global digital operator that currently
provides converged connectivity and online services to about 160
million customers in six dynamic markets. We transform people’s
lives, empower individuals, create opportunities for greater
digital inclusion and drive economic growth across countries that
are home to more than 7% of the world’s population. Headquartered
in Amsterdam, VEON is listed on NASDAQ and Euronext Amsterdam, and
has a broad investor base.
For more information visit:
http://www.veon.com.
Disclaimer
This press release contains “forward-looking
statements”, as the phrase is defined in Section 27A of the U.S.
Securities Act of 1933, as amended, and Section 21E of the U.S.
Securities Exchange Act of 1934, as amended. Forward-looking
statements are not historical facts, and include statements
relating to, among other things, expectations regarding the
sufficiency of VEON’s liquidity to meet its obligations, the impact
of further sanctions imposed by the European Union, the United
States or the United Kingdom, the safety of our employees and
customers, and continued engagement with our stakeholders.
Forward-looking statements are inherently subject to risks and
uncertainties, many of which VEON cannot predict with accuracy and
some of which VEON might not even anticipate. The forward-looking
statements contained in this release speak only as of the date of
this release. VEON does not undertake to publicly update, except as
required by U.S. federal securities laws, any forward-looking
statement to reflect events or circumstances after such date or to
reflect the occurrence of unanticipated events.
Contact information
Investor Relations Faisal Ghori ir@veon.com
VEON (TG:35V1)
Historical Stock Chart
From Jun 2024 to Jul 2024
VEON (TG:35V1)
Historical Stock Chart
From Jul 2023 to Jul 2024