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