Company officials have stated that it is extremely important to stand up for the interests of its investors and that they are confident that there have been no violations of the stock exchange’s rules and procedures on the part of investors. If the appeal is rejected, the Company plans to file it again, as permitted by the exchange’s rules.
On March 21, Ozon filed an appeal against Nasdaq’s decision on the compulsory delisting of the Company’s American depositary shares (ADSs). According to the exchange’s rules, the Company has the right to request a hearing in front of a special commission to appeal the exchange’s decision, which it has done. The hearing must be held within 45 days from the date of receipt of the Company’s request. Until the commission issues a written decision, measures to delist the Company must be suspended.
“No matter how this plays out, the delisting decision has no impact whatsoever on the Company’s operations and does not affect its financial stability,” noted Ozon’s press service. “We continue to develop our business: demonstrating high growth rates, increasing our number of sellers and expanding our product range, developing our logistics infrastructure and our products, and delivering orders to our customers.”
Ozon’s goal is to remain a public company and retain its listing on Moscow Exchange. Under any scenario, company remains committed to act in the best interests of its investors to the best of its ability.
On March 15, 2023, Ozon, along with other Russian businesses, received a notification from Nasdaq to the effect that their American depositary shares would be removed from the exchange’s listings.
On March 21, Ozon filed an appeal against Nasdaq’s decision on the compulsory delisting of the Company’s American depositary shares (ADSs). According to the exchange’s rules, the Company has the right to request a hearing in front of a special commission to appeal the exchange’s decision, which it has done. The hearing must be held within 45 days from the date of receipt of the Company’s request. Until the commission issues a written decision, measures to delist the Company must be suspended.
“No matter how this plays out, the delisting decision has no impact whatsoever on the Company’s operations and does not affect its financial stability,” noted Ozon’s press service. “We continue to develop our business: demonstrating high growth rates, increasing our number of sellers and expanding our product range, developing our logistics infrastructure and our products, and delivering orders to our customers.”
Ozon’s goal is to remain a public company and retain its listing on Moscow Exchange. Under any scenario, company remains committed to act in the best interests of its investors to the best of its ability.
On March 15, 2023, Ozon, along with other Russian businesses, received a notification from Nasdaq to the effect that their American depositary shares would be removed from the exchange’s listings.