Forced conversion depositary shares of Ozon

Yesterday was the first day of trading of Ozon on the Moscow stock exchange after the process of redomiciliation from Cyprus to the Russian Federation was completed. 

The 11th of November 2025 was also the day that Reestr-Proton, the registrar for Ozon, published the procedure for the forced conversion of depositary shares into local ordinary shares. This information can be found here: https://reestr-proton.ru/for_shareholders 

EAHCISS is contemplating hosting a webinar to explain the process of forced conversion of Ozon depositary shares. 

It is well possible that shareholders that do not apply for forced conversion may not have the chance to obtain ordinary shares of Ozon afterwards and that BNY will liquidate the Ozon shares that underly the depositary shares if they see a possibility to do so. Unfortunately voluntary conversion of depositary shares of Ozon has, in practice, not been possible due to a global lock that was placed on the depositary shares by the DTC in October 2024, which made it impossible to surrender depositary shares to BNY for conversion.