Sber­bank of Rus­sia inks ac­cord with Bank of New York Mel­lon

The Pak Banker - - Front Page -

MOSCOW

Sber­bank of Rus­sia an­nounces that it has en­tered into an amend­ment to its Reg­u­la­tion S GDR pro­gram de­posit agree­ment with The Bank of New York Mel­lon as de­posi­tary un­der which Reg­u­la­tion S global de­posi­tary shares are is­sued.

Sber­bank's Level I Amer­i­can de­posi­tary shares (the "ADSs") are is­sued un­der Sber­bank's Level I ADR pro­gram de­posit agree­ment, dated as of June 27, 2011, as amended as of Septem­ber 24, 2012 ( the "ADR De­posit Agree­ment").

The pur­pose of the amend­ment is to amend and re­state the terms of the Reg S GDR De­posit Agree­ment to be iden­ti­cal to the terms of ADR De­posit Agree­ment, thereby merg­ing the two de­posi­tary re­ceipt pro­grams into one sin­gle pro­gram (the "Reg S GDS Con­ver­sion").

Fol­low­ing the Reg S GDS Con­ver­sion, the Reg S GDSs will be re­des­ig­nated as ADSs and will be­come in all respects fun­gi­ble with the out­stand­ing ADSs. The amend­ment will be­come ef­fec­tive on the 30th day fol­low­ing the date of a no­tice by BNYM of the amend­ment to the Reg S GDR De­posit Agree­ment to hold­ers of Reg S GDSs (ex­pected to be on or around De­cem­ber 19, 2012). As in the case of Reg S GDSs, hold­ers of ADSs have con­trac­tual en­ti­tle­ments to the ex­er­cise of vot­ing rights and the pay­ment of div­i­dends and other dis­tri­bu­tions.

From a trad­ing per­spec­tive, the ADSs, in ad­di­tion to be­ing ad­mit­ted to the Of­fi­cial List of the Fi­nan­cial Ser­vices Author­ity and to trad­ing on the Main Mar­ket of the LSE (the "LSE"), also trade on the en­try stan­dard trad­ing plat­form of the Frankfurt Stock Ex­change and over-the-counter in the United States.

Fol­low­ing the Reg S GDS Con­ver­sion, ADSs will con­tinue to trade on the LSE un­der the ticker sym­bol "SBER" as well as on the en­try stan­dard trad­ing plat­form of the Frankfurt Stock Ex­change and over-the-counter in the United States.

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