St. Petersburg, Russia; 21 February 2020– Lenta PLC (“Lenta” or the “Company”), one of the largest retail chains in Russia, today announces that the continuance of the Company into Cyprus (the “Redomiciliation”) and a change in the depositary appointed in connection with the Company’s global depositary receipt programme (the “GDR Programme”) have become effective.
This announcement should be read in conjunction with the Company’s announcement of 8 January 2020 in relation to the Redomiciliation and change in depositary (the “Previous Announcement”).
Further to the Company’s application to the Department of Registrar of Companies and Official Receiver (the “DRCOR”) for continuance of the Company’s incorporation into Cyprus, the DRCOR today issued the Company with a certificate of temporary registration in Cyprus.
As a result of the Redomiciliation becoming effective, the Company is now named Lenta PLC, a public limited liability company incorporated under the laws of Cyprus, registered at 6 Karaiskaki Street, City House, 3032 Limassol, Cyprus. The Company’s corporate secretary is Crystalserve Secretarial Limited.
The Company’s GDRs continue to be admitted to trading on the London Stock Exchange and the Moscow Exchange (with no change to their ISINs) and to the Official List of the UK Financial Conduct Authority. The terms and conditions of the Company’s GDRs remain governed by English law and the Redomiciliation has not resulted in any changes to the rights attaching to them.
In connection with the Redomiciliation becoming effective, the Company has adopted a new memorandum and articles of association (which may be viewed on the Company’s website (www.lentainvestor.com) and entered into a new deposit agreement (the “New Deposit Agreement”).
Further information regarding the status of the Company following the Redomiciliation may be found in the Previous Announcement.
To make the Redomiciliation permanent, the Company intends to apply to the Registry of Corporate Affairs in the British Virgin Islands for a certificate of discontinuance of the Company in the British Virgin Islands and, thereafter, to the DRCOR for a permanent certificate of incorporation in Cyprus.
Change of depositary
Deutsche Bank Luxembourg S.A. today ceases to be the depositary under the GDR Programme. Pursuant to the New Deposit Agreement, its affiliate Deutsche Bank Trust Company Americas (the “New Depositary”) has today become the depositary under the GDR Programme.
In accordance with rule 18.4.5 R of the listing rules of the UK Financial Conduct Authority, the Company sets out below key information regarding the New Depositary:
NAME: Deutsche Bank Trust Company Americas
REGISTERED OFFICE: 60 Wall Street, New York, NY 10005, USA
PRINCIPAL ADMINISTRATIVE ESTABLISHMENT: Same as registered office
DATE OF INCORPORATION: 24 March 1903
CORPORATE LIFESPAN: Indefinite
OPERATIVE LEGISLATION: The New York Banking Law
LEGAL FORM: State-chartered New York banking corporation
Other than as set out in this announcement and the Previous Announcement, there has been no change to the information regarding the Company’s GDRs.
Lenta is the largest hypermarket chain in Russia and the country’s fourth-largest retail chain. The Company was founded in 1993 in St. Petersburg. Lenta operates 249 hypermarkets in 88 cities across Russia and 131 supermarkets in Moscow, St. Petersburg, and the Siberia, Urals and Central regions, with a total of approximately 1,489,497 sq.m. of selling space. The average Lenta hypermarket store has selling space of approximately 5,500 sq.m. The average Lenta supermarket store has selling space of approximately 840 sq.m. The Company operates 12 distribution centers.
The Company’s price-led hypermarket formats are differentiated in terms of their promotion and pricing strategies as well as their local product assortment. The Company employed approximately 48,391 people as of 31 äĺęŕáđ˙2019.
The Company’s management team combines a mix of local knowledge and international expertise coupled with extensive operational experience in Russia. Lenta’s largest shareholders include Severgroup, which is committed to maintaining high standards of corporate governance. Lenta is listed on the London Stock Exchange and on the Moscow Exchange and trades under the ticker: ‘LNTA’
A brief video summary on Lenta’s business and its Big Data initiative can be seen here.
For further information please visit www.lentainvestor.com, or contact:
Public Relations and Government Affairs Director
Tel: +7 812 380-61-31 ext.: 1892
Ňel:+7 495 795 06 23