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Information for DR holders

On August 8, 2023 Citibank N.A. as depositary bank re-opened the books for cancellation of American Depositary Receipts (ADRs) subject to the conditions specified in the Books Notice below

  • Books Notice
  • Lukoil DR Cancellation Instruction - CUSIP 105
  • Lukoil DR Cancellation Instruction - CUSIP 204

​An Information Agent of Citibank N.A. (Georgeson) to contact for the questions related to cancellation of ADRs

+1 (800) 509-0984 toll-free line

+1 (212) 440-9850 for banks and brokers

According to the Federal Law No. 114-FZ of April 16, 2022, (hereinafter, the "Law") Russian issuers were obliged to take actions aimed at terminating depositary agreements, underpinning circulation of depositary receipts issued for shares of Russian issuers. 

In accordance with the Law, the issuance of new depositary receipts is prohibited starting from April 27, 2022. Only those persons who were holders of depositary receipts as at April 27, 2022 are entitled to receive ordinary shares (hereinafter, the "Shares") through conversion of their depositary receipts. 

Until the receipts are converted into Shares, the holders of depositary receipts do not have voting rights and rights to receive dividends. 

On May 5, 2022, PJSC "LUKOIL" notified the depositary bank Citibank N.A. (hereinafter, the "Citibank") on its intention to terminate from December 30, 2022 depositary agreements under the Level 1 and Rule 144A American Depositary Receipt programs (hereinafter, the "ADR").

 In its turn, Citibank notified ADR holders about its intention to terminate ADR programs on its website.

Up-to-date information on conversion in the standard mode with use of international clearing systens, including description of the procedure and list of required documents, is available at Citibank N.A. website via the link below.

In case of further questions related to the conversion, you may contact shareholder@lukoil.com or ir@lukoil.com.

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