EAHCISS News (English)

EAHCISS earlier announced that JPMorgan liquidated the shares underlying the Rosneft depositary receipts (GDR's): https://news.eahciss.org/2026/07/jp-morgan-liquidated-shares-underlying.html?m=1 JPMorgan confirmed in the notification that they received dividends on the shares underlying the GDR's since 2025 (see https://api.markitdigital.com/jpmadr-public/v1/cms/document?cmsId=88b769796a7f408d9386afac6a01fd3f&sequenceNo=7 ): "In February 2025, July 2025, January 2026 and July 2026, J.P. Morgan received dividends on the Rosneft Ordinary Shares underlying the outstanding DRs. However, distribution of dividends is not currently permitted under Russian regulations, which require these funds to be held in a restricted "type S" account in Russia. At such time that J.P. Morgan is permitted to do so, it will distribute such dividends pro rata among the Remaining DR Holders. J.P. Morgan cannot provide any assurance that any such additional distributions will be permit...

On the 21st of July 2026 JP Morgan announced that they have liquidated the shares underlying the ADRs of Rosneft: https://api.markitdigital.com/jpmadr-public/v1/cms/document?cmsId=88b769796a7f408d9386afac6a01fd3f&sequenceNo=7 JP Morgan sold the underlyings shares for $1.832142 per share, so $1.832142 per ADR. After fees and the correction for missing underlying shares due to forced conversion the cash distribution per ADR will be $$1.780982 upon cancellation of the ADRs. The liquidation sale was executed at a significant discount to the current price at the Moscow Stock Exchange (MOEX). The current MOEX price is approximately 345 Rubles per ordinary share (so 345 Rubles per ADR). JP Morgan has so far sold the underlying shares of five Russian ADR-programs at significant discounts to the share price at the MOEX: Rosneft, Sberbank, Magnit supermarkets, Mobile Telesystems and Novorossiysk Commercial Sea Port (NCSP). The liquidation by JP Morgan also makes it more easy to establish dam...

On the 8th of June 2026 JP Morgan announced that they have liquidated the shares underlying the ADRs of Sberbank: https://api.markitdigital.com/jpmadr-public/v1/cms/document?cmsId=520e5773254e470ba09e55b38bd59b9d&sequenceNo=1 JP Morgan sold the underlyings shares for $1.184027 per share, so $4.736108 per ADR. After fees and the correction for missing underlying shares due to forced conversion the cash distribution per ADR will be $4.476211 upon cancellation of the ADRs. The liquidation sale was executed at a significant discount to the current price at the Moscow Stock Exchange (MOEX) is approximately 322 Rubles per ordinary share (so 1,288 Rubles per ADR). JP Morgan has so far sold the underlying shares of four Russian ADR-programs at significant discounts to the share price at the MOEX: Sberbank, Magnit supermarkets, Mobile Telesystems and Novorossiysk Commercial Sea Port (NCSP). EAHCISS is trying to establish if ADR holders whose positions have been liquidated can now apply to c...