Global Ports extends period for GDR cancelation by another 60 days
Previously it was extended to 12 June 2023
Global Ports Investments PLC provides an update on termination date of its GDR Program.
On 15 February 2023, Global Ports announced the delivery of a notice to JPMorgan Chase Bank, N.A., as depositary for its GDR program to terminate the GDR deposit agreement dated 28 June 2011 between the Company and the Depositary on 11 April 2023. Subsequently it was extended to 12 June 2023
In order to allow more Holders to cancel their GDRs the Company decided to extend a period for the cancelation by another 60 days and in the Notice sent to the Depositary sets the New Termination Date on August 11, 2023.
Prior to the New Termination Date, Holders may cancel their GDRs and, subject to the payment of surrender fees and otherwise in accordance with the GDR Deposit Agreement, receive the relevant number of Shares represented by the GDRs they hold.
As of the date of this release shares of those Holders who submitted necessary documentation for cancelation of their GDRs have not been completed.
Global Ports Investments PLC is the leading operator of container terminals in the Russian market by capacity and container throughput. Global Ports’ terminals are located in the Baltic and Far East Basins, key regions for foreign trade cargo flows. Global Ports operates five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal and Moby Dik in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland (Multi- Link Terminals in Helsinki and Kotka). Global Ports also owns an inland container terminal Yanino Logistics Park located in the vicinity of St Petersburg.
In 2022, consolidated container throughput of the Group’s terminals totaled 992 thousand TEU. Global Ports’ major shareholder is Delo Group.
