VEON’s Scheme becomes effective
January 31 2023 - 6:30AM
VEON Ltd. and VEON Holdings B.V.
VEON’s Scheme becomes effective
Amsterdam, Netherlands, 31 January 2023
12:30 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”), confirm that, further to the
announcement issued on 30 January 2023 regarding the Scheme
Sanction Hearing, at which the Court made an order sanctioning the
Scheme (the “Order”), the Order has been delivered
to the Registrar of Companies.
VEON and the Company are therefore pleased to
announce that each of the conditions to the Scheme has been
fulfilled in accordance with the terms of the Scheme and therefore
the Scheme has become effective and binds the Company and all
Scheme Creditors, including, among other things, the imposition of
the Scheme Standstill, which will restrict 2023 Noteholders from
taking Enforcement Action (and other related actions) in accordance
with the terms described in the Scheme, as summarised in the
Explanatory Statement issued by the Company on 21 December 2022, as
amended on 11 January 2023.
The Amendments will only become effective if and
when each of the Amendment Conditions has been satisfied or waived
(in accordance with the Scheme). This includes the receipt by the
Company of certain licences, and/or confirmations that no such
licences are required, as set out in the Explanatory Statement (in
the event that the Company determines, in its absolute discretion,
that it requires such licences or confirmations).
Capitalised terms used but not defined in this
announcement have the meaning given to them in the Explanatory
Statement, which is available on the Scheme Website at
https://deals.is.kroll.com/veon.
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 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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