19 May 2022 15:30
Lenta IPJSC (LNTA;LENT) Lenta IPJSC: Lenta Received Permission to Retain its Depositary Receipts Program 19-May-2022 / 16:30 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Press Release | St. Petersburg | 19 May 2022
Lenta Received Permission to Retain its Depositary Receipts Program
St. Petersburg, Russia, 19 May 2022: Lenta IPJSC (LSE: LNTA, MOEX: LENT), one of the largest multi-format retail chains in Russia, announces that the Government Commission on Control of Foreign Investments in the Russia Federation (the Commission) has approved the Company’s request to maintain the circulation of its global depositary receipts (ISIN: US52634T2006, ISIN: US52634T1016) (the “GDRs”) outside of the Russian Federation for a duration of one year until 13 May 2023. Lenta has submitted a request to the Commission pursuant to the Federal Law No. 114-FZ “On Amendments to the Federal Law on Joint-Stock Companies and Certain Legislative Acts of the Russian Federation”, which came into effect on 27 April 2022 and requires the Russian issuers to terminate their depositary receipts programs, with the exceptions provided upon consideration of the issuers’ requests. The Commission's approval gives the Company time to reconsider the future of Lenta's depositary receipt program. For further information, please visit https://corp.lenta.com/ or contact:
About Lenta Lenta IPJSC (LSE: LNTA, MOEX: LNTA, LENT) is a leading Russian multi-format food and FMCG retailer. The company operates hypermarkets, supermarkets, and recently launched a new proximity store format under the brand “Mini Lenta.” It also provides customers the option to shop online via its click-and-collect and express delivery services. Lenta is Russia’s largest hypermarket operator and the fourth largest food retailer overall by Sales. The company was founded in 1993 in St. Petersburg and as of March 31, 2022, operated 254 hypermarkets and 541 supermarkets and convenience stores in over 200 cities and towns across Russia with more than 1.77 million square meters of Selling Space. The average Lenta hypermarket has approximately 5,500 square meters of selling space, the average Lenta supermarket has 800 square meters, and the Mini Lenta format is 500 meters on average. The company operates 14 distribution centers to supply all of its stores. 2021 Revenues were RUB 484 billion (approximately USD 6.5 billion). | |||||||||
| ISIN: | US52634T2006, US52634T1016 |
| Category Code: | MSCH |
| TIDM: | LNTA;LENT |
| LEI Code: | 213800OMCE8QATH73N15 |
| Sequence No.: | 162950 |
| EQS News ID: | 1357033 |
| End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.