Die Bank of NY Mellon, die selbst einer der "Betreiber" von ADR mit US-ISIN ist und auch den Polymetal-Schein US73178Q1058 verantwortet, hat letzte Woche am 21.4.22 ein PDF online gestellt mit weiteren Informationen zu den grundsätzlichen Implikationen der neuen russischen Gesetzeslage.
https://www.adrbnymellon.com/d…ountry-profile?country=RU
https://www.adrbnymellon.com/files/AL996040.pdf
Darin heißt es:
On April 16, 2022, Russian law Federal Law No. 114-FZ, providing for the mandatory termination by Russian incorporated issuers of depositary receipt ("DR") programs over their shares was signed (the "DR Law"). The DR Law will come into effect on April 27, 2022 ("Effective Date"). The DR Law provides for the mandatory termination of DR programs by all Russian incorporated issuers unless an express permission is obtained from the relevant Russian authority to retain the DR program. No assurance can be given that any Russian issuers will apply for such permission and would receive the required permission. Please note that the DR Law applies only to Russian incorporated issuers and not to issuers who are incorporated outside of Russia but have assets or business interests in Russia. The issuers that may be impacted by the DR Law have an underlying share ISIN beginning "RU".
The DR Law provides that irrespective of provisions of the relevant deposit agreement:
a) no new shares can be accepted for deposit in the DR program for the issuance of new DRs from the Effective Date;
b) all voting and dividend rights attached to the shares underlying the DRs will be suspended from the Effective Date (see further below); and
c) the record date for the surrender of DRs will be set as of the Effective Date (see further below).
The Bank of New York Mellon as depositary bank is not authorized under Russian law to claim dividends on the shares held on behalf of a DR holder. Under the DR Law, DR holders who held DRs as of the Effective Date might be able, after receiving delivery of the underlying shares, to claim unpaid dividends if they follow the procedure set out by the Russian Joint-Stock Companies Law for "unclaimed dividends". No assurance can be given that such procedures will be available to former DR holders or that the Russian authorities will not impose additional restrictions on the ability of foreign shareholders to claim dividends.
DR holders are determined as of the Effective Date for the purposes of the DR Law, including for the purposes of withdrawing the respective number of the underlying shares upon the surrender of their DRs. Any DRs acquired or otherwise transferred with a change in beneficial ownership following the Effective Date will not entitle the holder to withdraw the underlying shares, nor to claim for unpaid dividends or other distributions with respect to the underlying shares. Notwithstanding any provision of the relevant deposit agreement to the contrary, The Bank of New York Mellon may refuse to process any withdrawal request by any DR holder who was not a DR holder as of the Effective Date or is unable to provide evidence of the foregoing.
The Bank of New York Mellon’s current understanding is that any Issuer terminating its DR program will be required to do so in accordance with the terms, including notice periods, set out in the applicable deposit agreement. The Bank of New York Mellon will notify DR holders of the termination of a DR program by the relevant Issuer in accordance with the terms of the applicable deposit agreement.
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Es folgt dann noch ein rechtlicher Absatz ("Bitte fragen Sie Ihren Arzt oder Apotheker", ach so, Anwalt und Broker) und eine FAQ. Da ist aber nochmal der Punkt Lieferung der Originalaktien genauer definiert:
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Q. How can I retain my interest in a Russian incorporated issuer by cancelling my DRs for the underlying Russian shares?
A. The February 28, 2022, announcement by the Central Bank of Russia that prohibited BNY Mellon as a non- Russian person, from delivering shares from its Russian custody accounts was supplemented on March 5, 2022, with the Information Letter by the Central Bank of Russia allowing for cancellations of DRs for the delivery of the underlying Russian shares where there is no change in beneficial ownership.
Effective March 30, 2022, BNY Mellon opened books for cancellations for all Russian DR programs for which it serves as Depositary, in accordance with the terms outlined in the respective deposit agreements on condition of receipt of the required no change in beneficial ownership attestation.
Owners of DRs that wish to cancel the DRs and take possession of the Russian shares, should instruct their broker to surrender impacted DRs to BNY Mellon, in its capacity as Depositary for impacted DR facilities, for the cancellation of the DRs and further delivery of the underlying Russian shares.
Please be advised that, due to restrictions introduced by the Central Bank of Russia, for investors surrendering DRs for delivery of the underlying Russian shares, an attestation confirming no change in beneficial ownership must accompany the request. Any cancellations requested on or after April 27th must use an updated form of attestation (which will be available on the bnymellonadr.com website), which will additionally attest to ownership of the DR by the cancelling party on April 27th, 2022, as required by the Russian Law of April 16th, 2022. Additionally, the Depositary will require delivery instructions for delivery of the underlying Russian shares, which should include the bank / broker-dealer Russian account details for the applicable beneficial owner.
Additional information and instructions may be found in the News & Publications—Special Notices section of adrbnymellon.com.
Q. Are you aware of any brokers willing to open an account to hold the underlying Russian shares on my behalf?
A. BNY Mellon, in its capacity as a depositary receipts service provider, is unable to open accounts to hold Russian shares for beneficial owners of DRs. Custody clients holding DRs should leverage their custody provider to assist with the opening of an S-type account with a Russian custodian.
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Wie urai bereits oben gesagt hat, ist Polymetal nicht davon betroffen. Von diesem Heckmeck sind eben nur ADRs mit Aktien betroffen, deren hinterlegte ISIN mit RU beginnt. Und auch noch interessant: Der russische Emittent kann also auch einen Antrag auf Fortführung des ADR-Programms stellen, muß aber nicht. Und selbst wenn, kann ja auch die Zustimmung verweigert werden. Das wird sich zeigen.
Klar ist aber auch, keiner hat wirklich eine Ahnung von nix, schließlich machen wir das ja alle zum ersten mal, nicht wahr blöder Sanktionskram ...