Participation in depositary receipts programme
The Company’s American and global depository receipts programmes continued into 2018 with its receipts trading on the OTC markets of the USA, the UK, Germany and other countries. One ADR is equivalent to five ordinary shares of Gazprom Neft. The Bank of New York Mellon is the Company’s depositary bank for its depository receipts programmes.
At the end of 2018, the total number of ADRs issued against Gazprom Neft’s ordinary shares was 90 million accounting for 1.9% of its authorised capital. The total number of outstanding ADRs went down as ADRs were being redeemed throughout the year amidst restrictions on new ADR issuances.
In 2018, the trading volume of Gazprom Neft’s ADRs via the LSE IOB and the OTCQХ totalled $ 150.4 m and $ 0.7 m, respectively. The average monthly ADR trading volume via the LSE IOB stood at $ 12.5 m.