October 19, 2023 JPMorgan Chase Bank, N.A. 500 Stanton Christiana Rd. Newark, Delaware 19713-2107 Phone: 800-990-1135; Fax: 302-220-4591 London Stock Exchange Security Name: PJSC Magnit Reg S / 144A Reg S CUSIP: 55953Q202 144A CUSIP: 55953Q103 Corporate Action Type: Tender Offer / Termination ADR Termination Date: August 26, 2022 Payment Date: October 24, 2023 October 24, 2023 As previously announced, PJSC Magnit ("Magnit" or the "Issuer") terminated its Rule 144A and Reg S global depositary receipt ("GDR")programs with JPMorgan Chase Bank, N.A. ("J.P. Morgan" or the "Depositary") effective at the close of business (NY time) on August 26, 2022, in accordance with the terms of the deposit agreement dated February 20, 2008, between J.P. Morgan and Magnit (as amended, the "Deposit Agreement"). Consistent with its contractual obligations under the Deposit Agreement to sell the ordinary shares ("ORDs") underlying any remaining GDRs following termination of the GDR programs, J.P. Morgan participated in the public tender offer (the "Tender Offer") announced by Magnit and subsequently announced that all submitted shares were accepted in the Tender Offer at a rate of 2,215 rubles per ordinary share. The payment date will be October 24, 2023, with final payment details below: Rubles per ordinary share 2,215 GDR:ORD Ratio 5:1 Rubles per GDR 443 Ruble tax withheld per GDR 0 Foreign Exchange Date July 26, 2023 Final Foreign Exchange Rate (rubles per USD) 90.0945* The Final Cash Distribution Rate per GDR is USD 4.8425008.** * FX rate at which Issuer executed the conversion of Tender Offer proceeds from rubles. ** Net rate is inclusive of a cancellation fee of $0.05 per GDR and all fees, costs and expenses associated with J.P. Morgan’s participation in the Tender Offer. Foreign tax withholding is not applicable for this distribution. As previously disclosed, J.P. Morgan is actively seeking the recovery of ORDs underlying GDRs that were twice cancelled as a result of the Russian mandatory conversion laws. Any cash equivalent of the missing shares that is recovered will be distributed pro rata among the remaining GDR holders. Quelle: JPMorgan siehe PDF Datei vom 19.10.2023 Fazit: Bei dem Rückkauf von Magnit war bislang nicht klar welcher Wechselkurs Rubel/US-Dollar und ggf. mit welchen Abschlägen zugrunde gelegt wurde. Der Final Foreign Exchange Rate (rubles per USD) 90.0945*entspricht exakt dem am 26.07.2023 veröffentlichten Kurs.
Verfasser: Autor
1 Comment
Ibra
2/11/2023 08:08:29 pm
Also wäre deine Berechnung die du immer wieder durchgeführt hast mit Abschlag und Steuer etc am Ende nicht richtig sondern es ist der 1-1 Rubel Dollar Kurs den es zur Zeit gibt lediglich eine kleine Gebühr für jede gdr angefallen richtig ? Oder wie bewertest du den Kurs ?
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