VEON’s proposed Scheme approved by 97.59% of Scheme Creditors present and voting at Scheme Meeting
January 24 2023 - 06:00AM
GlobeNewswire Inc.
VEON Ltd. and VEON Holdings B.V.
VEON’s proposed Scheme approved by 97.59% of
Scheme Creditors present and voting at Scheme Meeting
Amsterdam, Netherlands, 24 January 2023
12:00 CET: VEON Ltd. (NASDAQ, Euronext Amsterdam: VEON), a
global digital operator that provides converged connectivity and
online services, and its subsidiary, VEON Holdings B.V. (the
"Company"), are pleased to announce that, further to the
announcement dated 21 December 2022, the Scheme was overwhelmingly
approved by Scheme Creditors at the Scheme Meeting held today.
Of the Scheme Creditors present and voting at
the meeting, 97.59 per cent. by value and 94.79 per cent. by number
voted in favour of the Scheme (with the requisite statutory
majority – being a majority in number, representing at least 75 per
cent. in value, of those present and voting – voting in
favour).
The Scheme Sanction Hearing is anticipated to
take place in London on 30 January 2023. Further details, including
the precise time and location of the Scheme Sanction Hearing, are
expected to be provided on the Business and Property Courts Rolls
Building Cause List (which can be accessed via the following link:
https://www.gov.uk/government/publications/business-and-property-courts-rolls-building-cause-list/business-and-property-courts-of-england-and-wales-cause-list#insolvency--companies-court-list-chancery-division)
on the day before the Scheme Sanction Hearing. If the Scheme is
sanctioned by the Court at the Scheme Sanction Hearing, and the
other specified conditions to the Scheme are satisfied, the Scheme
will then become effective. The Company will issue an announcement
providing further information regarding the time and location of
the Scheme Sanction Hearing in due course.
Capitalised terms used but not defined in this
announcement have the meaning given to them in the Explanatory
Statement issued by the Company on 21 December 2022, as amended on
11 January 2023.
About VEONVEON is a global
digital operator that currently provides converged connectivity and
online services to over 200 million customers in seven dynamic
markets. We are transforming people’s lives, empowering
individuals, creating opportunities for greater digital inclusion
and driving economic growth across countries that are home to more
than 8% of the world’s population. Headquartered in Amsterdam, VEON
is listed on NASDAQ and Euronext.
For more information visit:
https://www.veon.com.
Important NoticeThis release is
for informational purposes only and shall not constitute a
prospectus or an offer to sell or the solicitation of an offer to
buy securities in the United States or any other jurisdiction, nor
shall there be any offer of securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under applicable securities laws.
This press release is not a prospectus for the
purposes of Regulation (EU) 2017/1129.
This communication or information contained
herein is not an offer, or an invitation to make offers, to sell,
exchange or otherwise transfer securities in the Russian Federation
to or for the benefit of any Russian person or entity and does not
constitute an advertisement or offering of securities in the
Russian Federation within the meaning of Russian securities
laws.
Elements of this press release contain or may
contain “inside information” as defined under the Market Abuse
Regulation (EU) No. 596/2014.
DisclaimerThis release contains
“forward-looking statements,” as the phrase is defined in Section
27A of the U.S. Securities Act of 1933, as amended, and Section 21E
of the U.S. Securities Exchange Act of 1934, as amended.
Forward-looking statements are not historical facts, and include
statements relating to, among other things, the anticipated date of
the Scheme Sanction Hearing. Forward looking statements are
inherently subject to risks and uncertainties, many of which VEON
cannot predict with accuracy and some of which VEON might not even
anticipate. The forward-looking statements contained in this
release speak only as of the date of this release. VEON disclaims
any obligation to update them or to announce publicly any revision
to any of the forward-looking statements contained in this release,
or to make corrections to reflect future events or
developments.
Any steps taken in respect of the Scheme and in
connection with the Amendments must be in compliance with all
applicable sanctions laws and regulations, including the sanctions
laws and regulations administered by the European Union, the United
Kingdom and the United States, and including securing any necessary
licences and approvals from competent sanctions authorities.
Contact InformationVEONGroup
Director Investor RelationsNik Kershawbonds@veon.com
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