Surgutneftegas notifies LSE of DR delisting after BNY refuses depository services

MOSCOW. Jan 10 (Interfax) - Surgutneftegas has notified the London Stock Exchange that it is delisting its depositary receipts (DR) because The Bank of New York Mellon intends to stop acting as depository, the Russian oil company reported.

Surgutneftegas said it sent a notice to the LSE on January 9 "on cancellation of admission to trading on Multilateral Trading Facilities (MTF) in ATT Only segment, section IOBE (International Order Book Electronic) of American Depositary Receipts, representing rights to ordinary shares of the Company."

The notice to the LSE was sent due to notification from the depositary bank, The Bank of New York Mellon, that as of January 23, 2023 it will terminate the Deposit Agreements dated April 8, 2008 between the company, the depositary bank and owners and beneficial owners of American Depositary Receipts for ordinary and preferred shares of the company, Surgutneftegas said.