EAHCISS News (English)

We have received reports that Fidelity has now finally distributed the cash distribution in relation to the liquidation of the Sberbank ADRs. Fidelity unfortunately placed the cash distribution in a '(OFAC) blocked assets account'. Hence the funds cannot be accessed. Our understanding is that Fidelity waited so long with the cash distribution that the specific licence with number MUL-2025-1394826-3 ( https://drive.google.com/file/d/1dNVAXHHnzq6xXvgSXlh7Dmb8LUBM9o4I/view?usp=drivesdk ) expired.  Fidelity unfortunately does not seem to be aware that the license has been extended to the current number MUL-2025-1394826-5. Although we do not currently have a copy of that license we are quite certain that it is an extension of license MUL-2025-1394826-3 in order for the cash distributions to continue without restrictions. UPDATE: We are receiving (mixed) signals that the problem may be that accounts have been closed by Fidelity and that funds may be accessed after the account has bee...

EAHCISS has been following the cash distribution by JPMorgan, as a result of the liquidation of the shares underlying the Sberbank ADRs (see https://news.eahciss.org/2026/06/jp-morgan-liquidated-shares-underlying.html?m=1 ), closely. We decided to give the process various weeks and many investors have now received the cash distribution. However many brokers have not yet credited the cash or wrongfully claim that the cash has been frozen due to sanctions. EAHCISS has set up a small survey to get a more precise overview of the current issues and will help us to determine which parties should be contacted by EAHCISS to increase pressure to distribute the payments. Please complete the survey if you possessed Sberbank ADRs at the time of liquidation by JPMorgan and share the survey with other investors. The survey can be accessed via this link: https://forms.gle/HRjTDbpKMrZDgBFP7 We plan to publish the results next week.

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...