Novolipetsk Steel (NLMK) announces the termination of its depositary
receipt programme for common shares due to the decision by Deutsche
Bank Trust Company Americas (Depositary Bank) to terminate the
deposit agreement effective on 18 January 2023 (for details, see
Receipt holders retain the right to convert them
into common shares of Novolipetsk Steel within six months from the
date of the deposit agreement termination. Current restrictions in
investment and banking operations could make the procedure
challenging. Once the six-month period lapses, the Depositary Bank
can sell the remaining common shares of Novolipetsk Steel represented
by the receipts and transfer the proceeds into a special account to
be distributed among the receipt holders (less the amounts due to the
For questions regarding further steps by the
depositary receipt holders in connection with the deposit agreement
termination, including questions on receipt conversion into common
stock, it is recommended to contact Deutsche Bank Trust Company
Americas at email@example.com.
About NLMK Group
NLMK Group is the largest steelmaker in Russia and
one of the most efficient in the world.
NLMK Group’s steel products are used in various
industries, from construction and machine building to the
manufacturing of power-generation equipment and offshore wind
NLMK operates production facilities in Russia,
Europe, and the United States. The Company’s steel production
capacity exceeds 18 million tonnes per year.
NLMK’s ordinary shares with a 20.7% free-float
are traded on the Moscow Stock Exchange (ticker "NLMK") and
its global depositary shares are traded on the London Stock Exchange
(ticker "NLMK:LI"). The share capital of the Company is
divided into 5,993,227,240 shares with a par value of RUB1.
For more information about NLMK Group, please
visit our website.