ING BANK (EURASIA) ZAO to Act as a Trustee for Shares Underlying Gazprom ADRs
Further to the news released in mass media on the change of the custodian for OAO Gazprom (‘Gazprom’) shares underlying respective American Depository Receipts (‘ADRs’) please be advised of the following.
The change is related to the forthcoming introduction of a new structure under which the ADRs’ issuer, The Bank of New York (‘BNY’) appoints ING BANK (EURASIA) ZAO (‘INGE’) to be the trustee acting as a guardian (‘popetzitel stzeta’ as defined by applicable Russian legislation) in respect of the involved Gazprom shares, while Gazprombank ZAO (‘Gazprombank’) will act as the custodian.
Under Russian law and the agreement between the parties, BNY will be able to manage the Gazprom shares deposited with Gazprombank only through INGE. For ADR programme participants the only change will be that the underlying shares will be deposited with Gazprombank, while they will continue submitting all the documents to INGE and BNY exclusively.
Please note that the new structure will apply to Gazprom ADRs only and will not affect any other ADR programmes.
Full text of Notice to holders of Gazprom ADRs published on Bank of New York official website can be found at http://www.ing.ru/files/051222_GAZP_BONY.pdf.
Press enquiries: ING BANK (EURASIA) ZAO, Maria Teplukhina, +7 095 755 51 70
