PJSC Gazprom... submitted an application to the government of the Russian Federation to continue circulation of receipts outside the country, but on April 28, 2022, it was refused.
Today, PJSC Gazprom sent The Bank of New York Mellon an instruction to terminate the deposit agreement,” the company said in a release.
By agreement, BNY Mellon is required to provide receipt holders with notice of the closure of DR programs.
The conversion will be carried out as part of the standard procedure in accordance with the law.
"The company also sent applications to the London and Singapore stock exchanges for delisting no later than 20 business days," Gazprom added.
Russian President Vladimir Putin earlier signed a law banning the placement and circulation on foreign stock exchanges of depositary receipts for shares of Russian issuers.