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Showing posts from April, 2026

Compensation from broker for Russian CFD (contract for difference)

The UK Financial Ombudsman has ordered Interactive Brokers (IB) to compensate an investor that invested in a Russian CFD (contract for difference). In this case the CFD was for 10.000 Sberbank ordinary shares. Interactive Brokers refused to close the position because they could not trade the underlying Sberbank shares Interactive Brokers had bought to cover the CFD contract. From March 2022 onwards, IB raised the margin required for the position to 100%. By August 2024 the interest alone charged on the position had amounted to around USD $12,000.  The European Securities and Markets Authority (ESMA) introduced a margin close-out rule in 2018 that states that CFD providers have to close positions once the net asset value in the investor's account drops to 50% of the required margin. The Financial Ombudsman ruled that Interactive Brokers was required to stop charging interest and other charges on the CFD position once they had to close the position on the basis of the ESMA 50% margin...

EAHCISS Annual General Meeting to take place on 6th of June 2026

The annual general meeting (AGM) of EAHCISS will take place during the afternoon of the 6th of June 2026 in hybrid form. Members of EAHCISS can attend physically at a location located centrally in the Netherlands in person or via video connection. After the physical meeting there will be social drinks with the opportunity to chat with other members and the board. Members of EAHCISS will receive an email with more information and how to register for the AGM over the next two weeks.

O'key Group to delist from AIX

On April 10, 2026, the Gerenal Meetingof O'KEY GROUP S.A. decided to suspend trading on the AIX (Astana International Exchange) in the Group's global depositary receipts (ISIN US6708662019) from May 8, 2026 and to terminate trading and exclude these GDRs (ISIN US6708662019) from the official list of the AIX from May 13, 2026. O'key Group GDRs have also been listed on the Moscow Exchange since December 2020. It is planned that after delisting from AIX, the GDR program will continue to be traded on the Moscow Exchange. More information can be found here: https://okeygroup.lu/press-center/press-releases/2026/2033/

Nanduq (formerly known as Qiwi) buyback offer

Nanduq (formerly known as Qiwi) has launched a buyback tender offer for its depositary shares (ISIN US74735M1080). Nanduq is offering 4.3 USD per depositary share. Shareholders can sign up for the tender offer until the 17th of April. More information on the buyback offer can be found on the website of Nanduq: https://nanduq.com/investors/buyback/

Sberbank dividends over 2022 and 2023

We have received some questions about the Sberbank dividends over 2022 and 2023. The dividends over 2022 for ordinary shares held via Western nominee holders were returned to Sberbank and can be claimed until the 21st of April 2026 (that is when the 3 year statutory period expires). The dividends over 2023 (distributed in 2024) for ordinary shares held via Western nominee holders were transferred to the type C accounts of these nominee holders (such as Interactive Brokers or Citibank). Interactive Brokers has indicated to clients that they are working on the reconciliation in regards to the dividends over 2023 (they have to work out which clients directly claimed these dividends via Raiffeisenbank Russia). Once this process is completed Interactive Brokers is expected to start displaying the Sberbank dividends that have been paid on ordinary shares in the accounts of investors. Dividends on depositary receipts have not been paid over the years 2022, 2023 and 2024. These dividends shoul...

X5 has now largely executed a mandatory conversion of X5 Global Depositary Receipts into Dutch Depositary Receipts

X5 Netherlands has notified investors that BNY has assisted in the mandatory conversion of X5 Global Depositary Receipts into Dutch Depositary Receipts. Holders that participated in the share distribution of X5 Russia are effectively denied ownership of X5 Netherlands shares. Investors can self declare that they did not participate in the share distribution of X5 Russia and become a Qualified shareholder (via Dutch Depositary Receipts) in X5 Netherlands. Only Qualified shareholders can transfer depositary receipts and participate in the planned cash distribution. More information can be found here: https://x5.com/wp-content/uploads/2026/03/stage-one-announcement_final.pdf

Evraz Russia foreclosed on assets of Evraz PLC

The Moscow Arbitration Court earlier ruled on the claim of PJSC EVRAZ (Evraz Russia) for debt collection in the amount of 97,588,032,616.97 rubles against Evraz Plc, as well as on foreclosure on property to repay the above-mentioned debt from Evraz Plc. On April 01, 2026, PJSC EVRAZ executed the court’s decision by foreclosing on the property of EVRAZ plc. This information was disclosed by Evraz PLC on the 3rd of April 2026: https://www.evraz.com/en/news-and-media/press-releases-and-news/evraz-plc-announces-the-entry-into-force-of-the-decision-of-the-moscow-arbitration-court-on-the-clai/